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Loan secured against endowment policy
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Have you read the terms of the policy or asked who administers it ?0
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have you priced selling (not surrendering) the policy?2021 GC £1365.71/ £24000
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Ask the life assurance company.
Although an unsecured loan may be cheaper.0 -
I have asked the LA co (Legal & General), but they don't offer loans.
Personal loans are a problem having just returned from abroad for 8 yrs so no UK Credit Rating and was not on Voters Register.
Would be interested to explore option of Selling (rather than surrendering) - but where/how ?0 -
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Would be interested to explore option of Selling (rather than surrendering) - but where/how ?
You could try APMMThe Association of Policy Market Makers (APMM) consists of 5 member firms specialising in the buying and selling with-profits endowments and whole-of-life policies.
They say they will get you a quote within 48 hours: http://www.apmm.org/index.php
(Note: I've never used APMM, so I can't make any comment or recommendation. But organisations like The Money Advice Service suggest using them: https://www.moneyadviceservice.org.uk/en/articles/ending-your-with-profits-policy-early)0 -
eddddy, thanks, am giving APMM a try.0
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