Happy Face 29 Posted February 24, 2007 Share Posted February 24, 2007 Is there such a thing. Me fatha is paying £200 a month into his endowment, has done for 6 or 7 years and will continue to do so for another 6 or 7 years. He'll get 46k back. So it works out around a 13k profit over 14 years. I paid £30k for my flat 6 years ago on a repayment mortgage, spent 10K doing it up and it's now worth 90K. 50k profit in 6 years. Over the long term it seems obvious that endowments are shite, but my dad refuses to sell his and invest it in another property. And I'm not sure if he's right or wrong. I always thought it was mental to cash in an endowment once you're so far in because you only get half the cash you're due. But I reckon he could double his money if he used that £20k as a deposit/rennovation fund on a little flat. What say the financial bods? Stay the course with an endowment or cut your losses and re-invest more wisely? Link to comment Share on other sites More sharing options...
Jimbo 175 Posted February 24, 2007 Share Posted February 24, 2007 I checked mine a couple years back, and it was clear that I wasn't going make what I was putting it, so I surrendered it, ultimately I lost out, but I lost considerably less by cashing it in before the end of the full term. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted February 24, 2007 Author Share Posted February 24, 2007 I checked mine a couple years back, and it was clear that I wasn't going make what I was putting it, so I surrendered it, ultimately I lost out, but I lost considerably less by cashing it in before the end of the full term. I think me dad see's it as the conniving money men taking money that's due to him when they buy it off him. He'd rather lose out and not give them money, than cut his losses and plan for a greater return for himself in the long run. Link to comment Share on other sites More sharing options...
Radgina 1 Posted February 24, 2007 Share Posted February 24, 2007 not a thread about large appendages then ??? Link to comment Share on other sites More sharing options...
Jusoda Kid 1 Posted February 24, 2007 Share Posted February 24, 2007 It's hard to find cheap properties now that need refurbishing and when you do your likely to be up against serious property developers who do it for a living not just as a 1 off investment Link to comment Share on other sites More sharing options...
Park Life 71 Posted February 24, 2007 Share Posted February 24, 2007 In this instance your father should follow your advice HP. Link to comment Share on other sites More sharing options...
Jimbo 175 Posted February 24, 2007 Share Posted February 24, 2007 not a thread about large appendages then ??? Not if I'm posting in it its not. Link to comment Share on other sites More sharing options...
Jusoda Kid 1 Posted February 24, 2007 Share Posted February 24, 2007 not a thread about large appendages then ??? Not if I'm posting in it its not. Probably due to sharpening it to much Jimbo Link to comment Share on other sites More sharing options...
Jimbo 175 Posted February 24, 2007 Share Posted February 24, 2007 not a thread about large appendages then ??? Not if I'm posting in it its not. Probably due to sharpening it to much Jimbo its been whittled away tbh. Link to comment Share on other sites More sharing options...
peasepud 59 Posted February 24, 2007 Share Posted February 24, 2007 Pulling the 20k out and using it for a deposit would be a better idea if he can do it however hes not going to get much mortgage wise if he was going to repay £200 per month. One idea is to buy a luxury apartment from plan, put down the deposit take out a short term loan to pay for it and put it straight up for sale. Theres often a good 20-30% return on that kind of thing. Just keep doing that to build up the cash, after a few goes you can look at buying 5 or so from plan and negotiating a canny discount from the builders. How come Im skint? Link to comment Share on other sites More sharing options...
Monroe Transfer 0 Posted February 24, 2007 Share Posted February 24, 2007 not a thread about large appendages then ??? Link to comment Share on other sites More sharing options...
The Fish 11126 Posted February 24, 2007 Share Posted February 24, 2007 I'd guess with anything it's about how much risk he's willing to take Link to comment Share on other sites More sharing options...
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