Stuck in endowment trap - help!

AndyWallace

barbara22 wrote:

Will check out the FSA again, as I'm sure they provide lists of accredited brokers etc with their qualifications for given areas. Again, not that this is a guarantee of course :rolleyes:

Barbara,

I can't see what this would achieve tbh. Anyone can have a list of qualifications, whether they are any good is another matter. Have a chat with people you know and get a personal recommendation if you can.

Andy.

barbara22

Good idea Andy - some friends of ours who actually got a successful result from their claim against mis-sold policy did give us the name of a good advisor they had used - unfortunately he was near retirement then and no longer operates in this capacity. Still, there must be others!

barbara22

Hope I'm not talking just to myself now in this thread! Had to have some rather unexpected and serious dental work done before Christmas and am only just recovering - more money spent, it never ends.

Checked out roll up lifetime mortgages for equity release - unfortunately the most reputable ones have minimum age qualifications, which I meet but other half (being much younger than me) will not qualify for for another 8 years yet. As I retire in 5 years this will leave us with a single earner (partner, if the poor soul lasts) with 4-5 years to pay the mortgage and then also have the endowment shortage to deal with.

Oh well, the house will have fallen down by then :huh: - you've got to see the funny side I suppose.

Please, I really would like comments from other people who have visited this thread and who have been in this or a similar kind of mess and found a way to deal with it.

Thanks to Ed, Andy, MM, Dunston and others who have however given me sound advice to consider for the future.

I just hope other people have picked up some valuable warnings as well as good advice from reading this.