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selling endowment

selling endowment

Old Nov 12th 2004, 10:31 am
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Question selling endowment

I am trying to sell our Lloydstsb endowment policy which is 7 years old. Did a search on here and found some links which I contacted but no one seems interested as it is unit linked. Do any of the financial bods on here know whether there is anybody who would be interested or am I just going to have to surrender it
Cheers
Yv
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Old Nov 12th 2004, 10:38 am
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Default Re: selling endowment

Originally Posted by YFitz
I am trying to sell our Lloydstsb endowment policy which is 7 years old. Did a search on here and found some links which I contacted but no one seems interested as it is unit linked. Do any of the financial bods on here know whether there is anybody who would be interested or am I just going to have to surrender it
Cheers
Yv
no second hand market in unit liked endowments sorry
You can surrender it, keep it or make it "paid up" which means just dont make any more contributions to it
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Old Nov 13th 2004, 12:10 am
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Default Re: selling endowment

Just turn it into "paid up" as previous poster says. They will then send you a letter saying how many units in whatever trust you have. You can then check the price in the local paper if you want, or return the policy to Lloyds and ask them to cash it in.

They will then pay you the Number of units x price per unit as a cheque easy peasy.

Once it's "paid up" you can keep it indefinately and watch it's value rise as the price of the units rise.
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Old Nov 13th 2004, 7:31 am
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Default Re: selling endowment

Hi Yv,
I cashed mine in with the company I bought it from. Like you it was under 10 years old and nobody wanted to know. I got quite a good deal though so it wasn't so bad.
Sarah
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Old Nov 13th 2004, 9:15 am
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Default Re: selling endowment

I had the same problem as you so rang my actual endownment provider.

I sold mine back to the providers and was pleasantly surprised as I didn't lose that much. However, a word of advice, leave it as late as posible as it is still appreciating daily and you get back a different amount incrementally on a daily basis - mine changed over 500GBP over a 3 month period.

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Old Nov 13th 2004, 10:10 pm
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Default Re: selling endowment

Originally Posted by Go Banana's !!
I had the same problem as you so rang my actual endownment provider.

I sold mine back to the providers and was pleasantly surprised as I didn't lose that much. However, a word of advice, leave it as late as posible as it is still appreciating daily and you get back a different amount incrementally on a daily basis - mine changed over 500GBP over a 3 month period.

Warren
Yes, so did mine, it changed 500GBP LESS because I left it late. The price fluctuates down as well as up.
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Old Nov 14th 2004, 1:24 pm
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Default Re: selling endowment

Originally Posted by YFitz
I am trying to sell our Lloydstsb endowment policy which is 7 years old. Did a search on here and found some links which I contacted but no one seems interested as it is unit linked. Do any of the financial bods on here know whether there is anybody who would be interested or am I just going to have to surrender it
Cheers
Yv
have you tried going for compensation on it I did i got over 4000 pounds in comp and they gave me a good surrender price too and you are right you cant sell these unit linked ones they are rubbish try the compensation route with a no win no fee soilicitor I used Burlingtons do a web search you will find them easy enough no win no fee nothing to loose!!
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Old Nov 15th 2004, 3:43 pm
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Thumbs up Re: selling endowment

Originally Posted by SHEETY
have you tried going for compensation on it I did i got over 4000 pounds in comp and they gave me a good surrender price too and you are right you cant sell these unit linked ones they are rubbish try the compensation route with a no win no fee soilicitor I used Burlingtons do a web search you will find them easy enough no win no fee nothing to loose!!
Tried searching for Burlingtons without much luck, can you please point me in the right direction or give me tel number

Regards

Rob
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Old Nov 15th 2004, 6:40 pm
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Default Re: selling endowment

Thanks all for your info and suggestions. Will just have to look into the pros and cons of leaving it "paid up."

Rob, have done a search and think this may be what Sheety was talking about.
www.burlingtonpartners.co.uk

Cheers
Yv
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Old Nov 15th 2004, 6:46 pm
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Default Re: selling endowment

Originally Posted by YFitz
Thanks all for your info and suggestions. Will just have to look into the pros and cons of leaving it "paid up."

Rob, have done a search and think this may be what Sheety was talking about.
www.burlingtonpartners.co.uk

Cheers
Yv
One important point to think about concerns whether Lloyds TSB still provide endowments today. If they do, then thats OK. If they are closed for new business though you'll find they have sold most of the equities in the fund and are invested in low returning cash & gilts. If so, i'd take the hit and surrender it.
Jim
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Old Nov 16th 2004, 10:44 am
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Default Re: selling endowment

Originally Posted by YFitz
Thanks all for your info and suggestions. Will just have to look into the pros and cons of leaving it "paid up."

Rob, have done a search and think this may be what Sheety was talking about.
www.burlingtonpartners.co.uk

Cheers
Yv
Thanks YFitz, very helpful, will let you know outcome.

Cheers

Rob
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