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Cash in endowments now?
RonnieW
Posts: 1 Newbie
I have 2 parts to my mortgage, both are covered by Endowments that are not going to reach the amount needed. My mortgage isn't high (about a 5th of what the property is worth). My question is should I cash in both the endowment policies now, pay off as much of both mortgages as possible (this will be about half the amount owing) and then remortgage for the remainder. I need to do some work on the house, so perhaps I could make it work for me by getting money in the remortgage to cover work (new windows). I'm just a bit unsure what to do about the endowments as they are just not making any money. Help! Any suggestions or ideas?
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