I have had a surrender value on my with profits endowment plan which is due to mature in 1 year's time. At the moment the value is approx. £32.000 which will pay my mortgage off apart from £700 which I would pay off myself.
The question is would it be better to let it run for the last year or cut and run and take the money. I will then be better off by £103 a month that I am paying to Friends Life for the endowment plus £124 a month with no mortgage to pay.
Or keep paying for another year and hope for a decent terminal bonus
I just cannot decide what to do so any suggestions would be welcome.
With my luck I will keep paying in for another year and the final figure will come out at less than it is now !!
The question is would it be better to let it run for the last year or cut and run and take the money. I will then be better off by £103 a month that I am paying to Friends Life for the endowment plus £124 a month with no mortgage to pay.
Or keep paying for another year and hope for a decent terminal bonus
I just cannot decide what to do so any suggestions would be welcome.
With my luck I will keep paying in for another year and the final figure will come out at less than it is now !!