Couples going through a divorce should look to sell their mortgage
endowment rather than surrender it, says market maker Beale Dobie.
It claims over 50,000 people a year surrender a policy direct rather than
selling it on the Tep market for an average of 10-15 per cent more than the
surrender value. It believes that around £1bn of endowments are
surrendered each year.
Over the past five years, the firm says 16 per cent of its customers have
cited divorce – the top category – as the principal reason for selling
Investment manager Tracey Merritt says: “Divorce can be a stressful time
for anyone. The last thing people need to find out is that they could have
received thousands more for their endowment policy if they had sold rather