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No money to pay BUT none back.
shezza2
Posts: 201 Forumite
A few years ago we finished paying our endowment mortgage and at the time I suppose I was just glad that we owned our house with no more mortgage to pay.So much so that I did not take much notice of the fact that when we paid our last payment we did not have to make any money up like some people with endowment mortgages, BUT neither did we get any back!! I am just wondering what are the chances of our endowment mortgage finishing bang on to the penny?
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Your mortgage is with one institution while your endowment is with another. Both should have accounted to you for the settlement of the accounts separately.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Did your policy contain a guarantee?0
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If it was down to chance alone, given that a difference of £5000 either way would be perfectly normal that would be a 1 in a million chance.
So I'd be 99.9999% certain that either someone did something wrong or the two were linked in some way.0 -
You must have had some documents sent when your endowment matured surelymake the most of it, we are only here for the weekend.
and we will never, ever return.0 -
It sounds as if it may have been a repayment mortgage.0
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Have you moved in the last 25 years? Could it be that the endowment policy company sent a statement to your old address?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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To whom have you been paying premiums for all the term of the endowment?
Did you receive discharge forms for the maturity and complete and return them?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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