Norwich Union Windfall Payments

Middle_Wicket

Hi, my first message here so if i get things wrong, excuse me please, i have a with profits endowment still active from a previous mortgage (kept it going as a savings plan), i'm wondering if i should cash it in and make overpayments on my flexible capped repayment mortgage instead. I heard a rumour, possibly when listening to the radio, about six months ago that Norwich Union were going to pay investors windfall payments which is why i have hesitated, can anyone help or advise please.
Kind regards
mw

JoeK_3

Norwich Union with profits fund has withstood the test of time through the stock market crash and it now improving dramatically.

It's very much a case of comparing the interest rate on your existing mortgage versus the bonuses to be paid on the endowment.

JoeK

dunstonh

The last with profits invesmtents I did with NU have been performing in excess of 10% a year. Whilst I have never been a big fan of with profits (luckily I began my career for a unit linked company), NU and Pru are about the only two that I would trust going forward.

NU are looking at dispersing some of the orphan assets as a special bonus into the plans. If the proposal gets full agreement of all parties, then expect a small special bonus to be paid into the plans around 2008/9. There are still a lot of unknowns though.