should I cash in endowment?

wispachoc

I have an interest only mortgage of £15,000 due to be paid off in 2015. I also have an endowment which was supposed to be worth £20,000 which matures in 2014. It was supposed to cover the mortgage and leave a bit over.
The endowment is worth 12,000 at the moment if I cash it in. I intend to use savings to fund the shortfall when the mortgage is due to be repaid.
My question is, should I cash in the endowment now and invest the 12,000 to hopefully earn a bit of interest which will help with the shortfall or leave it until early 2014 when it matures?

sheslookinhot

Is there a possibilty you will get a terminal bonus ?

wispachoc

the bonuses so far have been very low amounts so I don't think there will be much to add if I leave it for another year.
The only advantage I can see in keeping it is for the death benefits.

kidmugsy

wispachoc wrote: »

the bonuses so far have been very low amounts

I dare say, but why not answer sheslookinhot's question?