We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help With My Mis Sold Endownment !
peter_holland
Posts: 46 Forumite
I have a standard life endowment which is due to end Nov 2012, the cover was for £60,000 we have overpaid like everyone else and now owe £20,000 on the mortgage.SL are quoting min payout of £19,500 how do I estimate a final payout figure? Or is it worth selling the endowment now,to help pay off the mortgage I would then put cash to this to fully pay off the mortgage.As it is only appox 5 years left is it worth selling or stick with it? could any one offer any advice as I'm afraid I don't know agreat deal about money issues.
Thanks for any help this is the first time i have posted a thread and am rather nervous about it all!
Thanks for any help this is the first time i have posted a thread and am rather nervous about it all!
0
Comments
-
they should send you a projected maturity figure or will give you it over the 'phone but the £19,500 is surely the minimum sum assured, not the end value on a £60K policy?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
-
Sorry minmum amount assured on my plan 19,500 ,the minimun amount pqayable at maturity 35,000 final bonus is at 20.6% not guaranteed what do I do, SELL THE PLAN ON THE OPEN MARKET ?
THANKS FOR YOUR TIME0 -
what is the current surrender value, and the monthly premium?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
-
The current surrender value is around 34.650, preminms 74.11 per month0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards