selling endowment to pay off debts

denise43

Hi, I am currently looking to re-mtg to another lender as my fixed rate finishes soon. My mortgage broker has said that I really need to sell my endowment and reduce my debts before any lender can lend us a mortgage. My endowment does have a large shortfall of approx £25000 and I had already considered doing this. Does any one know how I go about this and can you get caught out by these companies that offer you a price if you respond within 7 days? Thanks

EdInvestor

Post some info about the policy

Provider
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
Maturity date
Maturity forecasts

interest rate payable on mortgage

denise43

Provider: standard life Low cost.
Guarantedd sum assured: £16827
Declared bonuses: £7222.81
Surrender value: £16704
Monthly premium: £66.24
Maturity date: Oct 2016
Maturity forecasts: 3.75% - £27400
5.50% - £31600
7.25% - £36400

mortg int rate currently 5.79% ending Dec.