Raising a loan against an endowment...

Ugly_Kid_Joe_2

Hi - first time poster, I hope someone can give me some information.

Can a loan be taken out against an endowment by only one of the parties on a joint policy? My husband won't agree to it but it's not just his so I wondered if it was possible.

Thanks!

Jo

Thrugelmir

Its "yours". So would require both parties to sign any documentation.

dunstonh

1- not all providers allow it
2 - if the policy is assigned to a lender then the lender has to agree to it
3 - its joint and as Thrugelmir says, that means both have to agree it
4 - often the rates of those that do allow it mean its expensive compared to possible alternatives (although can be seen as valid as an option of last resort).