Endowment Cash In

colingray3

I'm thinking about cashing in a couple of endowments to raise capital for a holiday rental property purchase. The endowments are Eagle Star Homebuyer £45/month 25 year term was linked to a mortgage but not any more matures Oct 2018; Standard Life £50/month 10 year term matures Jan 2009; Friends Provident £50/month 15 year term, matures Dec 2013. Can anyone advise on where to get best deals and how this process works?

skint1_2

in a similar situation myself,had an endowment mortgage sold property but continued paying into endowment,£54 per month.Been paying into it for about ten years(15 years to go till it matures) but looking to raise some capital now.should i sell ?

EdBrown

I too am considering selling one of my endowments, several newspaper ads (particularly money mail of Daily Mail) promise to get you the best price if selling. Does anyone have any advice on who to use or best way to sell?
Also any advice on which one to sell? One was originally Scotish Amicable (now Prudential controlled) bought 1987 for 25 year term, next is Standard Life bought late 1988 timed to mature about same as first. A brief look at performance (both under-performing of course), would suggest that the Standard Life one is doing better overall so I am inclined to sell the Scot-Am, but does anybody know other reasons which might influence my decision please?

Midas

I would be tempted to keep the Standard Life Policy at least until they have converted to a plc and distributed the shares in the new company.

I also have a (terribly performing) standard life policy and am holding mainly for the expected payout in 2006/7. If you haven't already received it you should shortly get an AGM pack from standard life which gives some info about the proposed conversion.

EdBrown

Just thought of a very good reason myself which adds weight to keeping the Standard Life policy, useful for others too: Standard Life are likely to demutualise in 2006, so hanging on for share distribution is one to bear in mind.