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OK so the figures you''re looking at are, that you keep approx £94k of the equity in the house, and give him all of the endowment (£20k now and £20k later).
I keep the house and take over the mortgage.
I get 20K (ie half) of the endowment payout
When our youngest leaves home I give him 20K
He pays me maintenance.
I think you would not get as good a deal that way. The benefit of you keeping the house is that you can claim a need for more of the equity, to house the kids. If the house is to be sold then he would have a bigger claim to the equity.
Would an alternative proposition be that we sell the house and I get to keep the equity (about 100k) and still agree to the other bits of the plan although I suppose if he needed the endowment thing then I wouldn''t get the 20k?