Extend my mortgage?

EdInvestor

Hello Cosmic,

This is a 20 year endowment is it, maturing this year?When are you due to repay the mortgage?

If you want to retain membership what you can do is roll the money from the maturing policy over into a new With-profits bond. This means you will get a DM windfall.

There is one risk with this idea. SL's WP bonds don't have an anniversary date when you can withdraw the money penalty free. So there is a risk that you might lose money if they put a Market Value Ajuster (exit penalty) on the WP fund.

How big is the current shortfall and what proportion of your policy is made up of terminal bonus, do you know?

Compensationitis

A DM windfall?

Looks unlikely given the legal action heading their way.

cosmic_2

Hi Compensationitis.
Thank you for all the time you have given to my little problem, I am sorry that I am a little slow with my reply but my daughter is up to her eyes on my computer with her uni' work and I have to give way to her.
I now have a better idea as to how I will handle this.
Thank you and thank you to the other replies
Cosmic
PS what is private mode?

Compensationitis

I found 'private mode' by clicking on someone's 'handle', this brings up some options including send a 'private message'. You can see the 'Reply to Thread' box at the top and if you look to the right where it says 'Welcome cosmic' you can see 'Private Messages' underneath.

The people who write the software for these forums-aka-boards think more gadgets mean more users, I don't agree. My right eye is drawn to little yellow men bouncing around and a brown bloke with a thumb doing cartwheels, quite disturbing.

Glad you know which way to turn but don't hestitate to get back here if you need further assistance. Hope your daughter does well coz mine is also up to her eyeballs but networking old PCs and putting them on 2.2MB Broadband means we can all get to the things that matter to each of us at the same time.