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Endowment help
GrannyW100
Posts: 18 Forumite
My husband and his ex-wife had an endowment mortgage and they each had an endowment policy which my husband paid. The mortgage was changed to a repayment mortgage but the endowments were continued (again both being paid by my husband). They then got divorced, they were maid joint tenants (or owners - can't remember exact wording by the solicitor) but the endowments were not changed - that was about 8 or so years ago with my husband still paying both. Both parties have now remarried - his ex-wife still lives in the property with her new husband and my husband lives in my property . How does he go about transferring her endowment over to her so he doesn't have to pay anymore. The endowment did not feature in any financial settlement and, apart from the house, a clean break was made. I've searched but I can't really find any concrete help.
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They then got divorced, they were maid joint tenants (or owners - can't remember exact wording by the solicitor) but the endowments were not changed
The solicitor messed up there. They should have been assigned as part of the settlement as they are an asset.
How does he go about transferring her endowment over to her so he doesn't have to pay anymore.He assigns the policy to her. Most providers will have a policy assignment form.
The endowment did not feature in any financial settlement and, apart from the house, a clean break was made.Or not so clean as it turns out with these left behind.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
It appears from your post that the wife took-out an endowment and so did the husband and following the divorce the husband continued paying the premiums under both policies.You ask, how does he go about transferring her endowment to her but if it really has been her endowment from the start, he would just need to arrange for her to pay her own premiums.1
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