do i keep my endowment on but switch to repayment mortgage?

deb54

Im nearing the end of my divorce andthe settlement is i get the house and endowment... anyway i went to C&G and they couldn't advise but told me my options ... cash in endowmnet and pay off some of my mortgage and have a repayment. or continue to pay endowment and take out a repayment mortgage OR (this is my only option really coz its the cheapest) ... keep endowment mortagage. and contune it to the end and just pay the short fall. what do i do? is it silly to contue my endowment mortgage?

EdInvestor

There is a further option: surrender your endowment, use the money to reduce the mortgage now, and then increase the monthly mortgage payment by the amount of the endowment premium.This will overpay the loan without increasing your outgoings, so you pay less capital and interest over the term and thus reduce the shortfall automatically.

Post some info about the endowment though, as you never know, it might be one of the few worth keeping.

Provider
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly payment
Maturity date
Maturity forecasts
Interest rate payable on mortgage

Would you need to replace the life cover?