Selling Endownments

kirsty1_2

Can anyone help I have had an endownment with my mortgage for 9 years but It is no longer needed as the house is up for sale and I am getting divorced. I know if I just cash it in I will lose out which I don't want as it is getting split with husband, does anyone know of the companies who buy them?

EdInvestor

Hi kirsty,

Google for "TEPs traders" to find the companies that buy endowments.These days many can't be sold and surrender back to the life company is the only way out.

mdean

I think it might be a good idea to see an IFA about whether to keep the endowment. It provides life insurance which may cost more now you are 9 years older. You could either buy out your ex and continue to pay the premiums or make the policy 'paid up'

EdInvestor

Kirsty

If you want some idea of whether it's sensible to keep the policy, post the following info:

Company it's with
guaranteed sum assured
bonuses so far
monthly premium
maturity date
surrender value

NAR

Why give away even 10% to that or any other company? A couple of hours time form filling and the price of a stamp is all you need.

ReportInvestor

ethangrant wrote:

They have good contacts with the Ombudsman, and in some cases can fast-track your complaint.

That sounds like a good exclusive for an enterprising journalist .

Fairdo_2

If you still want to sell your endowment, I believe the following address might help, as they have an on-line form you complete and they search the "TEP" companies on your behalf. Commission Free because they are the Association body.

https://www.apmm.co.uk

If that doesn't get you through, go on Google and type in APMM.

It seems to be quite helpful.

Midget_Karen

I have worked in the complaints department for a company which sold endowments, where the redress for those mis-sold is calculated.

A customer gets the same amount whether it's individual or claimed through a company. Except if they write themselves they don't have to pay a share to the claims company.

dibbs26

Midget_Karen wrote:

I have worked in the complaints department for a company which sold endowments, where the redress for those mis-sold is calculated.

A customer gets the same amount whether it's individual or claimed through a company. Except if they write themselves they don't have to pay a share to the claims company.

Quite Right Madam. They only have to put you inthe position you would have been in if you had taken a repayment mortgage.

dunstonh

They are also ex-complaint handlers for some of those companies, and have good contacts in the companys and with the Ombudsman, and in some cases can fast-track your complaint.

Absolute bull. This is self advertising rubbish from a company that has only had the website registered for 2 weeks. Every post made by this poster has been promoting this company.

Self advertising companies pretending to be a satisfied consumer is the lowest of the low. It shows no morals or standards and is a good enough reason to avoid using them.

Fairdo_2

Well done to you eagle eyed contributors dunstonh & TheManWithNoName

Looks like those posters have been erased and the self advertising they were trying to dupe us with.

Looks like the Moderators are on top form aswell.

Good to see the self policing works!

Fairdo