Mortgage Endowment Promise (MEP)

molly22

mlefa30 said:

our endowment matures next year so impressed with some of these MEP payouts but who knows what will have happened by June 2021, fingers crossed for good results for all future maturities

Just looking at past posts and found yours.. ... made me wonder how you got on???
Molly22

Unclebhuna

Mine matures in mid February and I have been informed it will be about £9000 short with a predicted MEP payment between £1600 and £2400. I’ll let you know how I get on...

mlefa30

i've not heard anything new about this, especailly with only 5 months to go

Unclebhuna said:

Mine matures in mid February and I have been informed it will be about £9000 short with a predicted MEP payment between £1600 and £2400. I’ll let you know how I get on...

we are in a very similair position, so i'd be happy with anything above these figures!!!

Lanzarote60

All along in all annual letters our MEP has shown a figure of £15,475.  Our Aviva endowment matures mid February 2021 and the maturity letter received a few weeks ago states it as estimated MEP.  I assume we will get the full £15,475 in our case as the estimated payout without it is well below the target amount.
Target amount £60,275
Estimated Maturity Value £35,492.88
Plus Estimated MEP £15,475.00
Total Estimated Maturity Payment £50,967.88
Will post the final figures following payment.

Unclebhuna

I have received my final numbers today and, pleasingly, it is better than expected:
Target amount £62700
Total - £45707.64
Bonus - 8745.77
MEP Payment £4000 - Had been estimated between £1600 and £2400
Maturity Value - £58453.41

So, whilst still below target, taking into account the shares I received a few years ago, it could have been a lot worse. Have had plenty of notice that there would likely be a shortfall so that difference has all been taken care of. Time to open a bottle of something fizzy!

dunstonh

So, whilst still below target, taking into account the shares I received a few years ago, it could have been a lot worse. Have had plenty of notice that there would likely be a shortfall so that difference has all been taken care of. Time to open a bottle of something fizzy!

And dont forget that an endowment mortgage of around 62k over 25 years would have been about £25pm cheaper than a repayment mortgage.   £7500 difference over the term.

mlefa30

Unclebhuna said:

I have received my final numbers today and, pleasingly, it is better than expected:
Target amount £62700
Total - £45707.64
Bonus - 8745.77
MEP Payment £4000 - Had been estimated between £1600 and £2400
Maturity Value - £58453.41

So, whilst still below target, taking into account the shares I received a few years ago, it could have been a lot worse. Have had plenty of notice that there would likely be a shortfall so that difference has all been taken care of. Time to open a bottle of something fizzy!

really positive news, congrats more of my fingers are now crossed that ours is similiar, lol

mlefa30

here are our figures:

Target amount £42500
Total - £27945
Bonus - £5780
MEP Payment £5303 - Had been estimated between £1600 and £2400
Maturity Value - £39028

considering recent conditions, brexit/covid, really pleased with overall return