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Endowment surrender advice, please
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springbokfamily
Posts: 28 Forumite
I wonder if anyone can give me some advice about my endowment as I really dont know what to do for the best.
We have an endowment with Legal and General since 1999. The guaranteed sum assured is £114000. It is a managed fund.
Payments are 224.48 per month. We have had letters from L&G to say that there is a significant risk that there will be a shortfall on the plan.(matures 2024)
I am also about to loose my job and we will find it difficult to make the payment into the endowment every month
We are trying to decide the best thing to do. We have recently changed to an offset mortgage, one of our thoughts was to surrender the endowment (got a value from them today of £14306) and put that money straight into the mortgage?
Our mortgage is £135k, house value £240k
If anyone can offer any advice I would be very grateful
Thanks
We have an endowment with Legal and General since 1999. The guaranteed sum assured is £114000. It is a managed fund.
Payments are 224.48 per month. We have had letters from L&G to say that there is a significant risk that there will be a shortfall on the plan.(matures 2024)
I am also about to loose my job and we will find it difficult to make the payment into the endowment every month
We are trying to decide the best thing to do. We have recently changed to an offset mortgage, one of our thoughts was to surrender the endowment (got a value from them today of £14306) and put that money straight into the mortgage?
Our mortgage is £135k, house value £240k
If anyone can offer any advice I would be very grateful
Thanks
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