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End of endowment Confusion (by me)
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Comments
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It will undoubtedly be interesting...
I will make an appointment with the Halifax to discuss the options...
Many thanks for all the comments0 -
Just a heads up to anyone in the same position.....
I have just spoken to the Halifax
They said that they no longer had an interest in old assigned endowment policys.
They said they would send a letter to the NU saying as much..
So, the NU will just pay me the maturity amount.
About a month later the Halifax say they will send a letter offering the opOrtunity to pay off the value of the first endowment. And obviously then remove it from the mortgage.
But they said they would be happy if the endowment policy money is paid into a Halifax savings account that will be used to pay off the mortgage, when the mortgage finally finishes.... In 5 years time...
The crux of the matter is that the Halifax just want to see that you have a means to pay off the mortgage when the 25 years is up...
I hope this helps.....0 -
That's really helpful - thanks for coming back to the boards! Dolly.0
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You are welcome Dolly...
I was quite releaved to find out that I wasnt going to have to find the endowment shortfall in one go.
I think a really good question to use with your mortgage proviver is:-
Why are you asking me to repay part of my morgage before the agreed end on the deal......0 -
Once again I don't agree with dunstonh.
Most lenders have no interest in the assignments, in many cases they haven't even kept the deed. Get them to write to the life office.0 -
Once again I don't agree with dunstonh.
No surprise there. If I said the grass was green you would say it was purple.
That is firmly proven by the fact you say you dont agree yet have repeated what I said in post #11I 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 -
Sorry dunstonh, I only read your first post which I feel was misleading.0
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saverjustice wrote: »Sorry dunstonh, I only read your first post which I feel was misleading.
No problem. However, in the context of that point of the thread it was correct (it still is correct).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 -
I don't agree that it was correct.0
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saverjustice wrote: »I don't agree that it was correct.
What part of it is incorrect?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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