Closing L+G Endowment.

Pauli363

I am planning retirement in 5 years, and just about to do a final remortgage to reduce my existing mortgage (12 years to run) to match my retirement date. I have a 25 yr L+G endowment due to mature in 5 years also, but I am looking to cash it in now.
I will use the amount to clear some of the existing mortgage and the remainder will be remortgaged via a company scheme I have access to at 0.25%.

So, My question is this, how much of a penalty am I likely to be hit with for early exit.

Details as follows

Paying £177 pm on 25 year term with 4.5 years to go.
£67,000 was the maturity amount aimed for and so far all letters have been green.
I received my latest plan update yesterday, and the plan is valued at £51,326 today.
It is a Flexible mortgage plan with 20,215 units held.
How close to that £51k figure is the surrender value likely to be. In general, am I likely to be penalised thousands or hundreds for surrendering?
Also, what would the likely sell value be if I decided to sell on the policy, given thats it seems to be on track to at least match the promised value of £67k. It had jumped in value between 2015 and 2016 by about £5k.

dunstonh

My question is this, how much of a penalty am I likely to be hit with for early exit.

Impossible to say. You will need to ask L&G