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21 August 2009

Should I be surrendering my with profits endowments to pay off the mortgage?

After 5 years of seeing no bonuses on my 2 with profits endowment policies I am tempted to cash them in and pay the capital of my mortgage. I have a low rate mortgage (1.59%) for the next 2 years. THe endowments are 14 years old but are currently 30% behind where they should be on maturity. Am I throwing good money after bad? so questions: 1. should I do this. 2. If I surrender should I be looking to invest in a 6% savings account this year and pay off the mortgage next year? Thanks for your help.

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