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Divorcing couples urged to profit from Tep market

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

their policy.

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

than surrendered.”

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