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should I cash in endowment?

wispachoc
wispachoc Posts: 14 Forumite
in Mortgages & endowments
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?

Comments

  • sheslookinhot
    sheslookinhot Posts: 2,403 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Is there a possibilty you will get a terminal bonus ?
    Mortgage free
    Vocational freedom has arrived
  • wispachoc
    wispachoc Posts: 14 Forumite
    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
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    wispachoc wrote: »
    the bonuses so far have been very low amounts

    I dare say, but why not answer sheslookinhot's question?
    Free the dunston one next time too.
This discussion has been closed.
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