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endowment assigned to Northern Rock
peterth125
Posts: 80 Forumite
We have an endowment policy assigned to the Northern Rock which is due to mature in June 2014 and pay off our interest only mortgage. The question is if the terminal bonus takes it over the amount owed how will we get that money and how will we know the final pay out? Will the endowment company write to us with final figures or will these go direct to Northern Rock?
0
Comments
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The question is if the terminal bonus takes it over the amount owed how will we get that money
The bank will either issue a cheque to you or pay direct to your bank.how will we know the final pay out?
The insurer gives you the values.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you so much for your reply. I thought that would be how it worked but just wanted to be sure. Did' nt want to be ripped off anywhere along the line.
Thanks again. Peter0
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