Surrender!!!!!

Pobby

Before I finally surrender my Scottish Life endowment policy I thought I would give AAP a go.They wrote back to say that they were not interested.Do you think that other similar companies would make the same decision.Thanks in advance.

Pobby

Shameful but I have bumped it!!!!!!!!!

Nyx_2

Hi There,
i`m a newbie but hope to learn quite fast now i`ve come accross this site.
I too have a Scottish life endowment and i don`t quite know what to do with it, i`ve had it a while now since 1988 and i did try to claim due to mis selling but as i bought it 2 months before the cut off date they said i wasn`t entitled to anything, i don`t know whether to keep it of sell it.
I would be interested to know how long you`ve had yours and why you want to sell.
Thanks
Nyxie

Pobby

Hi Nyx.I have my endowment since 88 also.I don1t need it to pay off the mortgage and frankly it is not performing well.It would appear to be in a ``zombie`` fund so it is closed for new business.I have been paying £107 per month for all that time and have obtained a surrender value of a tad under £29,000.

I will be investing/saving that amount and be adding to it monthly.BTW,welcome to MSE!

Nyx_2

Hi Pobby thanks for your reply,
mines only a small endowment ( about 8000) and it sounds the same as yours in that it`s not earning much and i can`t really decide what to do, it should end in 2013 and i don`t know if it will be worth waiting for any bonuses or not. I don`t need it to pay off the mortgage it was attached to but i could do with it to help with my current mortgage.
Did you/ were you able to claim for a mis-sell or not?

EdInvestor

Try here for additional sale quotes:

https://www.apmm.org

Pobby

Nyx wrote: »

Hi Pobby thanks for your reply,
mines only a small endowment ( about 8000) and it sounds the same as yours in that it`s not earning much and i can`t really decide what to do, it should end in 2013 and i don`t know if it will be worth waiting for any bonuses or not. I don`t need it to pay off the mortgage it was attached to but i could do with it to help with my current mortgage.
Did you/ were you able to claim for a mis-sell or not?

Yes I was mis-sold and as yet I have not complained but I will be doing so.I think that as interest rates are on the risre I will do better to put it in a savings account and keep paying the premiums.

Nyx_2

Good Luck, let me know how you get on with the claim!

djbd1973

Pobby wrote: »

Before I finally surrender my Scottish Life endowment policy I thought I would give AAP a go.They wrote back to say that they were not interested.Do you think that other similar companies would make the same decision.Thanks in advance.

Hi Pobby,

I can't gain credit for this as I saw this in another thread but you could try this link www.endowmentcheck.co.uk. I haven't tried this myself but looking at the site, they do charge to calculate the maturity value and there is also a section of selling the endowment as well.

Maybe one of the more astute advisors who read these threads may be able to suggest if this site is any good or any other alternatives that haven't come up yet.

Hope this helps