Cashing in part of an Endownment

[swindontony]

I have 2 endownments at the moment but have a repayment mortgage so i'm wondering if its possible to cash in some part of one of these Endownments, or do I have to cash in all or nothing, thanks in advance.

[rosyherb]

When we cashed in our endownments we had to cash the full product. We also got a Financial Advisor to search the market and had various offers, better than the product provider would buy back. So it pays to shop around. It is also worth considering how old they are as in the early years most of the payments go towards admin and commision. Hope this helps

[annie0000]

Depends on the endowment, some are set up in segments (usually 10) so that you can cash in individual segments. As they are not tied to your mrtgage, you can cash them in, but you should beware of any early encashment charges, and also you may be able to sell them on the open market, but that depends on how long you have held them and the expected maturity. Your best bet is call the company and ask what options you have - you can also sometimes take a loan against them, but i don't think that the interest rates are that competetive.