Cancel Endowment?

franco_2

My son bought his first house about 10 years ago with an endowment mortgage. Then a few years ago, he sold and bought another house, this time setting up a repayment mortgage on the new house, but kept the endowment as a kind of savings plan. Like many others he has now received the bad news that his expecting £45,000 will in fact realise about £22,000. He has worked out that he will have paid in about £19,000 when the 25 year period is up. He is a asking me should he cancel the endowment. I would think yes, but am not an authority on these matters, so here seeking advice. If the answer is the expected yes, has any one any recomendations for companies to approach that will give him a better settlement figure than this current company?
Many thanks.

dunstonh

There are a lot of endowment threads over the last month or two. All of which contain the same answer. I could copy and paste the info but if you take a look back, that will save a bit of work.

Every endowment is different. You can also have a good endowment with xyz company and a bad one. So it is not possible to give specific information without knowing about the endowment itself.