Reeling from the Reality Check

in_need_of_direction

Can it be sold on?

chevalier

might be worth asking that question on the endowment board?

Brogden

Good Morning HB - hope you are feeling better

Mention of the fund and annual management charge tells me this is a unit-linked endowment and there is no second hand market at all for these.

Consider the life assurance cover the policy gives you and how valuable or not that is for you and obtain from the life company a quotation of the 2016 maturity benefit and the current surrender value. Comparing these figures should help you decide.

Finally if you were advised to be in the deposit fund for the long term you may wish to make a complaint as this would have been terrible advice.

Your mortgage is now on a wholly repayment basis isn't it? ie. you don't need this policy to repay it?

Have a good day.

Brogden x

Historybuff

Thanks all. Brogden, I made a complaint, but they wouldn't uphold it. Said it was out of time limit. Spoke about it with OH. As it pays out next Feb we might as well just carry on with it to the bitter end, so we will just let it roll on. A good thing is, at least there will be a lump sum. If we had never had it the money would have just dripped away with nothing to show.
Still off work with this nasty virus. I hope I start to feel a bit better soon...its lousy.

Igamogam

Historybuff wrote: »

Said it was out of time limit. (

I know its not the same thing but we claimed for PPI payments that was form over 20 years ago. At first they refused using 'out of time' ad we said 'think again' and guess what we had a cheque within the week for full amount we where claiming. Worth a push?

Historybuff

I think I backed down too easy Igamogam. Had a certain amount of time to take it to the ombudsman, but didn't. I was a bit intimidated because it was our mortgage providers who we still owe money to.
Update to the fireplace saga if anyone is interested…it's in! And working at last.
Decorating is still in progress, but things are moving.

DawnW

Will you be able to pay a chunk off your debts / mortgage when you get the lump sum? Or do you have other plans for it? (Feel free not to answer if you feel this is too nosy )

At any rate, you won't have to pay it any more after Feb, which will free up a bit more money from your budget :T

Historybuff

Don't know yet, DawnW. Might use it to overpay mortgage till the fixed deal ends, then pay the lump sum off that because that is the only thing that we are paying interest on now all the other debts are in a DMP, albeit a self managed one. We'll see closer to the time.

Historybuff

Original retirement date aimed for was Aug 2021. I'm going to really try to bring that forward to April 2020 at the LATEST. Just working on a plan...

Historybuff

Still off, feeling rubbish. Sending off for phased retirement and reduced working hours this week. Eeek! Deep breath. Massive attack of coughing...