Why cash in your endowment policy?
If you are planning to move house, build an extension or refurbish your home, you may decide to cash in your endowment policy to fund the project. But did you know you could get more by selling your endowment rather than surrendering it back to your life company?With house prices rising rapidly, and all the fees that go along with buying a new home, you may decide to cash in your endowment policy if you are moving. ...
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- Why cash in your endowment policy? updated Tue Aug 28 2007 5:22 am CDT
If you are planning to move house, build an extension or refurbish your home, you may decide to cash in your endowment policy to fund the project. But did you know you could get more by selling your endowment rather than surrendering it back to your life company?With house prices rising rapidly, and all the fees that go along with buying a new home, you may decide to cash in your endowment policy if you are moving.Mary Davis, who sold her endowment to fund a move, said: “I wanted to cash in my endowment policy as I was moving house. The pay-out meant I could afford to buy a much better property than I was planning to do. I had no idea that selling it on was an option before I heard an advert for an endowment buyer.” Cash in an endowment mortgage and improve your homeYou can also cash in your endowment mortgage to fund home improvements. If you decide to improve your home, it is likely you will need to release funds quickly.When James Cotgrove decided to add an extension to his home he considered surrendering his endowment to cover the costs. After looking at the other options open to him, he said: “When I decided to cash in my endowment mortgage, I contacted a number of other companies offering to buy my endowment, and I was given a profitable offer.” Rearranging your financesPeople also often choose to cash in an endowment mortgage when they are rearranging their finances. Andy Mossack Marketing Director of the UK’s biggest endowment buyer aap claims "at least half the policies” sold to them are the result of people restructuring a mortgage.If you have decided to surrender your endowment to cover the cost of refurbishing your home, moving house or simply want to restructure your finances, you could get more by selling it to a specialist endowment buyer.This article was written by Scott Andrews on behalf of aap, the biggest endowment policy buyer in the UK. aap can offer up to 35% more than the surrender value of your endowment. If you have decided to cash in an endowment policy, go to http://www.aap.co.uk for more information.
Tue, 28 Aug 2007 10:22:50 +0100
