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1.The alternative is FREEZING them - has anyone done this with endowment policies ?

2.Does FREEZING - affect just the Terminal Bonus - because the annual bonuses are not worth even considering

Is the value in 4 years time based on todays surrender value or the full value in 4 years time ?

I am confused and need advice

Is it worth cashing in my two Phoenix endowments now or should I hang on to them for another 4 years until maturity:

I have a surrender figure of less than half the insured value (considerably less) - which in itself is 80% of my payments over the last 21 years - and can't get any more on the second hand endowment market - the guaranteed payout is only £3,000 more - which with my payments of £76 (combined) per month - appears to make sense to dispose of them now

The only fly in the ointment is the Terminal Bonus - try as I might - Phoenix won't give me any idea as to the figure that I might receive - but with the current financial problems - I don't hold out for much

If I did cash them in - it will leave around £10k outstanding on my mortgage - is Nationwide going to be happy for me to convert this loan to repayment ?

Oh yes - I have received almost £6k compensation for missold policies

Any / All advice welcome