endowments

[leeandjoanne]

hi my mum has to on 2 endowments for her mortage she has had a letter saying when they mature either next yr or the yr after she may have a shortfall and will have to find 10 - 12 thousnad which she has got . is there any way she can sort it all now and oay it all up now so she has nothing to pay and her house is hers thanks jo

[factor-fiction]

wouldn't advise surrendering the policies now given that they mature next year- although she can get a quote if she wants. She could however ask about paying off say �10000 of her mortgage now, thereby saving on interest payments, and then pay the rest off from the endowment proceeds next year

[Whoever]

the stockmarket has dropped a great deal recently and unless it recovers by nthe time the policies mature your mother may find she owes even more money on her mortgage. She certainly shouldn't surrender it now because stock market values (on which the endowments are based) may recover a little.