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endowment question ?
fox63
Posts: 9 Forumite
Hello, I have a Standard life endowment mortgage, taken out in 1988 and now in it's last year, (May2008). I am on Red Alert, shortfall, my mortgage is for £19100. I seem to be at around £14000 at the last statement. Can anyone tell me if I have any chance hitting my £19100, or none. I see people getting paid out £27000, paying much the same as I do monthly, it's all beyond me, any help would be nice, thank you, fox63
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I would hang fire with this as stock markets have recovered.
See it through to the end.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
Projections from Standard life dont include final bonus and mortgage promise value. Find out what they currently are and add it in and see how it comes out.I see people getting paid out £27000, paying much the same as I do monthly
Younger ages at start? higher target growth rates reducing the premium down (not a good thing)? life and critical illness included? you have only 20 years, they have my 25?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 -
were you mis sold the endowment ? have you thought about claiming compo?my bark is worse than my bite!!!!!!!!0
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I seem to be at around £14000 at the last statement.
Call them up and ask for a "surrender value" as of now.That will at least uodate you on how much you might get.
If you fall short at maturity you can extend the mortgage term and then overpay the remaining few thousand pounds using the endowment premiums plus any extra cash you have until it's paid off.Trying to keep it simple...
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I was not mis sold my policy, I knew it was a gamble, went into it with eyes wide open, my bad luck.0
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Well, it makes a refreshing change to hear that.I was not mis sold my policy, I knew it was a gamble, went into it with eyes wide open, my bad luck.
Most would have gone for compensation regardless.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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