Need to get rid of endowment?

misters_2

Hi my sis recieved a letter stateing that her mortgage endowment has a shortfall and that she should take action to correct this, but she just wants rid of the thing all together and then look at another way, like a life insurance policy to cover her mortgage and funeral expensies.

She is looking for best way to get rid of her endowment saying its a noose around her neck( her words).

Whats the best direction for her to take? Any advice would be appreciated.

Thanx in advance

Furniture_man

Go to Google, type in 'sell endowmnents' and it will pull up a list of those companies you can contact to find out if they are interested in purchasing your endowment.

I have tried a few. Some were not interested, others I am waiting for replies.

Give it a go!!!!!!!!!!

misters_2

Would writing to the building society that sold her the endowment, make any difference?

david78

You might be able to make the endowment "paid up" and convert to a repayment loan. You should really seek proper help from an advisor on this.

misters_2

Any advisors want to give free advice on this plz.

mars_2

Hi

I'm looking to do something similar for a relative.

First you need to find out the surrender value, any bonuses it may have had and and what the final value will be then get an advisor to work it out for you.

If you decide to surrender you can get quotes from

http://www.apmm.org/ they might pay you more than you provider

misters_2

Thanx for the site mars i'll have a look, and see if i can pass on any information. 8)