From: Dave D 
Newsgroups: uk.finance
Subject: Stopping paying into endowment
Date: Sat, 26 Jun 2004 10:07:29 +0100

I'm hoping for a little mortgage advice...

Currently, we've got an interest only mortgage with the Halifax and an
endowment with Standard Life.

I have taken steps to switch the mortgage to Portman's 5 year fixed
rate repayment mortgage. However, I'm not too sure what to do with my
endowment. Standard Life weren't much help because they 'couldn't
offer me advice'.

What I am thinking of doing is just stop paying into the endowment and
collecting it at the end of it's term (there is about 18 years left -
about £5500 in the pot). 

Do you think this is a bad idea?

I'm told that I will still be eligible for any windfalls if I do this
- is this correct. 

Obviously, I will loose my life cover that my endowment gives me, so
I'm going to have to get some somewhere else.