assignment of endowment policy

tarchin

i have two endowment policies - both were assigned to me on remortgage (from Barclays to RBOS) in 1993 and I have the policies. Should they have gone to RBOS? How do they know i have them - have just switched back to an interest only mortgage with them as am unemployed and cannot afford the capital/repayment element of current mortgage. they have not asked to see policies.

Gatos

If you have switched to a capital and repayment mortgage when you moved from Barclays to RBOS (which I doubt) then the policies would not be assigned to Barclays anymore. Assuming that your mortgage with RBOS in 1993 was interest Only, are you sure that your policies where not assigned to them at the time. Keep in mind that back then most lenders had the tendency to assign the policies to them. However, these days very few of them, if any, do that anymore.
If the policies mature and they are actually assigned to you, then that means that you get the money. However, you would most probably use that money towards your mortgage since there wouldn't be a point continuing to pay a higher interest. What I am trying to say, is that even if the policies are assigned to you and you get the money, the banks wouldn't really care. The longer you have a mortgage with them, the more they will make out of you.

Hope this helps. Anymore questions, feel free to ask.