Mortgage Endowment paid to me instead of Santander

y002cjw

I've had the proceeds of my mortgage endowment paid to me by cheque instead of directly to santander.

How long do you think i could string santander along with, 'im on holiday' and 'the cheque is in the post' type excuses whilst i bank the cheque and earn £5 a day and Santander charge me £2 a day!!!!!

This is Santanders fault they sent a letter to the insurance company releasing their interest in the policy 2 weeks ago!!!

comeandgo

Dont all endowment cheques go to the policy holder? Ours do

McKneff

Ours did too, it was up to us to pay it over.

Just pay it and get it over with.

elmer

I received my endowment payment last year, Santander are not looking for the money until 2016.

I told them it had been paid to me and they said thats fine, do what you want with it till the end of the mortgage.

I paid it in to the mortgage two days later, I couldnt cope with the temptation to dip into it.

elmer

kingstreet

If the policy is assigned to the lender as collateral security for the mortgage, the proceeds will be paid to them.

If it isn't, or the assignment was released when you moved house or mortgage, the proceeds will paid to the policyholder.

y002cjw

I have the chq in my hand. Santander have frozen the account until 13th June. So i am now looking for tge best 1 month notice account :j:beer:

Goldiegirl

y002cjw wrote: »

I have the chq in my hand. Santander have frozen the account until 13th June. So i am now looking for tge best 1 month notice account :j:beer:

Of course, if Santander had the money in their hands and were dragging their feet with repaying the mortgage and were charging you interest, you'd be jumping up and down with rage.

Thrugelmir

y002cjw wrote: »

whilst i bank the cheque and earn £5 a day and Santander charge me £2 a day!!!!!

That's some differential...........

Is your maths correct.