we took out an endowment policy in 1989 for 30 years. Supposed to mature to 44,000 but will only reach £25,000. Converted to a capital and interest 2 years ago on buying new property. This mortgage runs til 2019 and costs £508 a month. Paying £40 a month for endowment. Been offered £13,500 for endowment. Should we use this to pay off some of the mortgage. Been told this will reduce monthly repayments to £387?
Orignal From: Should I sell endowment policy to pay off some of my mortgage?
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