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Matured Endowment
Free_At_Last_2
Posts: 51 Forumite
The endowment on my mortgage matured last August. My mortgage is paid off. I was sent the paperwork to release the money but have not returned it. Do I have to claim the money now, or can I leave it till I need it. For personal reasons, I do not want to have a large amount of cash at this time.
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Comments
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Do I have to claim the money now, or can I leave it till I need it.
Its not making any money and will be sitting there waiting for you.I do not want to have a large amount of cash at this time.
You have though. On maturity, the endowment ceases and is treated as deposit. So, it gets declared as such to HMRC etc.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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