[ftp]

  In fact i've lost £3000 since Christmas on the value of my endowment which is due to finish in October. Those of you who still don't think there is a recession believe me it's starting to really bite now. Anyone with a twenty year endowment or a pension coming out in the next few months is well and truely stuffed!
Why did i ever bother to save money?
Anyone relying on their endowment to pay the mortgage off is in deep poo poo!

Prices are going to change in this job i'm sure.

[johns window kleen]

Dont ever get divorced then mate, I lost over £130K and costs on top of that . Ouch!!!
Sod saving lifes just too unpredictable.

[NWH]

You`ve lost £3000 what`s that got to do with WC,if your losing work you need to get more to cover the loses simples.It`s not going to effect every WC to such a bad extent my work for example is not every 4 weeks or month etc most of it is 6-8 weekly but i rarely get round on time,if your purely commercial i would worry but if you have a good mix of work and are trying to get more i wouldn`t pannick just yet.You sound like 1 of the many negative politicians on the news daily lol.

[ftp]

Nothing to do with windowcleaning directly, all i'm saying is the recession is biting. Cash rich retired customers will become more scarce as pensions are becoming undervalued, savings are making no money so the boom days look to be drawing to a close.
One of my customers just had a shortfall of £20,000 on her endowment so she's hardly going to be rolling in spare cash.
NWH i'm guessing you have one of the softest areas in the country so you can afford to laugh at the rest of us in more working class areas?

[NWH]

I`m not laughing at you i`m saying you need to act not moan.

[sparklebright]

My wife and I were sold an endowment when we were young and naive.

We claimed and got a lump of money back, it's worth pursuing, won't cost you anything.
Many of the people selling endowments got thousands, and I mean thousands off up front commision for every endowment they sold, even though they knew they were not gauranteed. But they said it was...

Claim asap.  

[ftp]

Allready claimed years ago but the lump which seemed reasonable then doesn't come close to the hole that's opening up now.
Fortunately it's not the end of the world for me but for thousands more they will be financially crippled i would imagine.

[Window Washers]

Nothing to do with windowcleaning directly, all i'm saying is the recession is biting. Cash rich retired customers will become more scarce as pensions are becoming undervalued, savings are making no money so the boom days look to be drawing to a close.
One of my customers just had a shortfall of £20,000 on her endowment so she's hardly going to be rolling in spare cash.
NWH i'm guessing you have one of the softest areas in the country so you can afford to laugh at the rest of us in more working class areas?

I am laughing at the mo, our mortgage has dropped near on £200 a month as has many peoples, there is always 2 sides to a coin

[wightsurf]

window washers
I don't know your financial situation but if you can afford to carry on paying the £200. a month , you will save even more than you are at the moment in the future

[ftp]

Throw everything you've got at your mortgage right now and eat into the capitol. Best chance you'll ever have.

[Londoner]

Thats good advise.

[AuRavelling79]

Throw everything you've got at your mortgage right now and eat into the capitol. Best chance you'll ever have.

Spot on! Just check what the penalties are (if any) for early repayment.

Now the usual Malc Gold long-winded reply:-

We took out our endowment mortgage in 1987 just before the regs (so no claim back possible)came in and yes it was a virtual promise that we would have cash to spare.

In the late 90's we started to get the warning letters and upped our endowment a bit. Two years later another letter and I researched thoroughly and thought "I'm not given them more of my money but I'm not cashing in" so we carried on the endowment (it has a life assurance element) but converted to part and part repayment on our mortgage so that we would pay off some of the capital. We paid that off and then over the last few years we have been paying well over the minimum on our mortgage and it's principle sum is dropping like a stone.

We've got just over three years and the mortgage owed is what the current minimum guarantee on the policy is.

So use this low interest rate period to reduce the capital as much as you possibly can. For every £84 over the minimum you pay off per month you reduce the mortgage by £1000.

*Please note this is not financial advice and investments may go waaaaaaay doooowwwwn as well as up! *

[matt]

Fortunately it's not the end of the world for me but for thousands more they will be financially crippled i would imagine.

its ok for the rich like you  with flashy posh poles that sparkle in the sunlight 

[AuRavelling79]

Fortunately it's not the end of the world for me but for thousands more they will be financially crippled i would imagine.

its ok for the rich like you  with flashy posh poles that sparkle in the sunlight 

All that glisters is not gold!

[matt]

Fortunately it's not the end of the world for me but for thousands more they will be financially crippled i would imagine.

its ok for the rich like you  with flashy posh poles that sparkle in the sunlight 

All that glisters is not gold!

 

[Dennis-Taylor]

You come into this world with nothing....
If you die in debt then you've made a proffit.   

[weetot]

I like that one Dennis, very good.

[Tosh]

You come into this world with nothing....
If you die in debt then you've made a proffit.   

 

We've another eight-and-a-half years on a fixed interest mortgage.    But it's payable, so I'm not complaining.

[kenaltobelli]

thanks a lot for telling me about the endowment mine comes out at the end of the year.
plus the tax man i need a proper job or i need to be given a weeks work erning £250 a day

[ftp]

Phone your endowment company up and ask them how much it is worth right now, then sit down very quickly and reach for the toilet roll!