Selling and buying endowments to pay off debt
Levels of debt in the UK are increasing, and it is important to stay on top of repayments. If you have decided to surrender an endowment policy, which will free up cash allowing you to pay off debts, it is important you know that there are other options available to you.There are many companies that specialise in buying endowment policies in the UK. They could even give you more than the surrender value offered by your life company. ...
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- Selling and buying endowments to pay off debt updated Wed Sep 12 2007 8:11 am CDT
Levels of debt in the UK are increasing, and it is important to stay on top of repayments. If you have decided to surrender an endowment policy, which will free up cash allowing you to pay off debts, it is important you know that there are other options available to you.There are many companies that specialise in buying endowment policies in the UK. They could even give you more than the surrender value offered by your life company.Paying off debt is one of the most common reasons given when cashing in an endowment policy. Other common reasons to sell endowment policies are:To paying off debt Divorce Re-mortgaging Restructuring finances. So if you are planning to surrender a policy to free up cash and pay off debt, be sure to contact a company that specialises in buying endowments in the UK.They should be able to give you a quick and easy valuation, and could offer more than the surrender value. Buying endowments in the UKCompanies that specialise in buying endowments in the UK can offer more than the surrender value because they can sell the policies on to larger investors.aap can often exceed the surrender value when buying endowment policies in the UK, as they are the largest company in the country to do this. Dan Farrow, chief operating officer of aap, said: “Where there is demand for second-hand endowments, policyholders can get as much as 35% more than if they were surrendered.”Endowment buyers will often offer a quick, no obligation valuation of your policy. It is definitely worthwhile to look into selling your policy if you have decided to surrender it. Why sell your endowment?As well as paying off debts, many people decide to cash in their endowment policy because they want to restructure their finances.Andy Mossack of aap said: “When we are buying endowment policies in the UK; at least half the policies sold to us are the result of people restructuring their mortgage."Whatever reason you have for selling your policy, many companies that specialise in buying endowments in the UK will be able to offer a larger payment that the surrender value. This article was written by Scott Andrews on behalf of aap – the UK’s largest buyer of endowment policies. Visit http://www.aap.co.uk to find out how much your policy could be worth. You’ll see aap is the company to buy your endowment policy.
Wed, 12 Sep 2007 13:11:30 +0100
