{"id":61292,"date":"2017-07-20T13:00:13","date_gmt":"2017-07-20T06:00:13","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-cash-in-my-endowment-early-to-pay-off-my-mortgage\/"},"modified":"2017-07-20T13:17:28","modified_gmt":"2017-07-20T06:17:28","slug":"should-i-cash-in-my-endowment-early-to-pay-off-my-mortgage","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-cash-in-my-endowment-early-to-pay-off-my-mortgage\/","title":{"rendered":"Should I cash in my endowment early to pay off my mortgage?"},"content":{"rendered":"


\nI\u2019m thinking of topping up its current cash-in value with a personal loan so I can pay off the mortgage when my deal endsQ The current fixed-rate deal on my interest-only mortgage of \u00a347,000 will finish at the end of next March, and the entire mortgage term is due to end in July 2023. My endowment will mature a year before that and is on track to pay out \u00a349,800 at the low rate and \u00a357,300 at the mid rate. It has never performed better than the mid rate since it started, and has frequently performed at the low rate, leaving me with a potential small shortfall at times.My yearly endowment statement has just arrived and the cash-in value is now \u00a341,000. So rather than just remortgaging next March, I\u2019m thinking of cashing in the endowment early next year and topping up the \u00a341,000 with a personal loan of \u00a36,000 so I can pay off the entire mortgage of \u00a347,000. I only have \u00a32,000 in savings and that\u2019s not likely to grow quickly as I\u2019m focusing all I can on pension payments. Is it a good idea to cash in soon, or am I missing something here? Continue reading…
\n
\nSource : theguardian.com
\nRead more…Should I cash in my endowment early to pay off my mortgage?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I\u2019m thinking of topping up its current cash-in value with a personal loan so I...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-61292","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fWA","jetpack-related-posts":[{"id":129976,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-cash-in-my-endowment-and-pay-off-my-41000-interest-only-mortgage\/","url_meta":{"origin":61292,"position":0},"title":"Should I cash in my endowment and pay off my \u00a341,000 interest-only mortgage?","date":"September 26, 2022","format":false,"excerpt":"\r I could use the \u00a3200 a month to overpay on my repayment mortgageQ My endowment is due to mature next year in September. It is a nonprofit policy, so there is no bonus for letting it mature.The endowment is currently valued at about \u00a351,000, which is about \u00a310,000 more\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101436,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-remortgage-for-the-final-18-months-of-my-loan\/","url_meta":{"origin":61292,"position":1},"title":"Should I remortgage for the final 18 months of my loan?","date":"November 19, 2018","format":false,"excerpt":"\r I have an interest-only mortgage and I\u2019m a bit concerned in case the rate goes upQ My current fixed-rate mortgage deal ends about 18 months before my mortgage comes to an end in 2022. It\u2019s an interest-only mortgage so the last \u00a340,000 should be paid off by my endowment\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73509,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-happens-to-the-money-from-old-endowment-policies\/","url_meta":{"origin":61292,"position":2},"title":"What happens to the money from old endowment policies?","date":"January 29, 2014","format":false,"excerpt":"\r We have continued to pay the monthly premiums despite not needing the policies to pay off our mortgageQ My wife and I have four endowment polices which we took out with our first four mortgages back in the early 1980s. When it became apparent these were not going to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":65912,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-my-failing-endowment-be-taxed\/","url_meta":{"origin":61292,"position":3},"title":"Will my failing endowment be taxed?","date":"April 18, 2012","format":false,"excerpt":"\r Q My endowment policy matures in 2013. It is no longer connected to my mortgage \u2013 thank goodness, as there's a massive shortfall \u2013 so will the proceeds be subject to tax? I am a higher rate tax payer and am concerned that not only did this policy fall\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/halifax-is-chasing-a-debt-on-a-house-my-wife-left-20-years-ago\/","url_meta":{"origin":61292,"position":4},"title":"Halifax is chasing a debt on a house my wife left 20 years ago","date":"January 25, 2017","format":false,"excerpt":"\r Her ex had forged her signature on forms and is still insisting she is liable My wife took out a joint endowment mortgage with her ex nearly 20 years ago. She left the property in 1997 and advised Halifax of her new address, but her ex refused to take\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10920,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/does-my-former-partner-have-a-share-in-this-endowment\/","url_meta":{"origin":61292,"position":5},"title":"Does my former partner have a share in this endowment?","date":"July 30, 2011","format":false,"excerpt":"\r I have paid all the premiums, but the policy is in both our names and he refuses to assign his share to meAs soon as I bought a house, 18 years ago, my then partner moved in. The property was in my sole name, as was the mortgage, although\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61292"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=61292"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61292\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=61292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=61292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=61292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}