Endowment Mortgages
Traded Endowment policies or endowment mortgages have two separate parts, a monthly interest payment to an endowment mortgages lender and a monthly payment into a with profits endowment policy which is mainly invested in stocks and shares.
The policy is usually arranged so that it ends when the mortgage loan ends, so that the proceeds are available to use in repaying the amount borrowed.
There are over 8 million endowment policies in the UK which are linked to a mortgage.
Many home owners in the late 1980’s and early 1990’s chose to take out endowment mortgages: interest rates were high, and the stock market was booming. Today interest rates have fallen to unprecedented levels, and stock market returns have fallen. This has had a detrimental effect on endowment policies including those being used to repay mortgages.
Borrowers have found the interest part of their mortgage payment has fallen significantly, but on average the investment performance of the endowment policy has also been reducing.
About to surrender your endowment mortgage? Have you considered selling your endowment mortgage on the second hand traded endowment policy market? The policy must have a minimum endowment policy surrender value of £2000.In the majority of cases a better surrender value can be obtained for endowment mortgages on the traded endowment market, compared to that offered by your life assurance company. The difference can be as much as 35% more for your endowment policy.
You may be one of the 5 million people in the UK who was miss
sold their endowment policy, and it will cost you nothing to
find out. By simply filling out our online form we will assign
an expert in endowment compensation to review your endowment
complaint and with an average payout of £5000 for most
endowment claims, with a no win no fee service you've
got nothing to lose.