endowment buyers

cameron_3

could someone please help me.
I have taken out a repayment mortgage and am now looking to sell my endowment policy onto a 3rd party.
I am being told buy 1st policy that they buy the policy and we will receive our money within 3-6 weeks and that policy plus sell on to a 3rd party which isn't garunteed they can retract at any time leaving us back at square one.
Where on the other hand policy plus are saying that they are identical companies and 1st policy could take a long time to pay us are money and are very difficult to pull out of if we are un happy with there service!!!
I need to know which is the better company?
help please

EdInvestor

Choose the one which will buy direct from you, rather than the one which needs to sell it on first, as you may face a long wait with the second trader.

dipsomaniac

depends on the quotes and how quickly you need the money.

if the quotes are within a couple of hundred pounds of each other i would always sell to the cash buyer. once you agree to sell through the other business model you will be locked in (financial penalty) with no guanteed date for the sale to be completed.

if there is a big difference in the figures, you need to weigh up the pros and cons but be prepared to wait up to a year for the money if you go down the 'middleman' route.

don't forget the loss of life cover (if needed) when selling the policy