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Endowment Mortgage Shortfall
A type of mortgage where your payments cover the interest cost only. You need to take out an Endowment Policy to pay off the loan at the end of its term. Endowment policy term investment plan (usually investing in the stock market), which also includes life insurance cover so that if you die during the plan, your successors get a guaranteed payout. Often used to repay mortgages at the end of their term. The final payout is usually not guaranteed
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- .. Endowment complaints in the UK. Time bar arguments mean millions could miss out on compensation. There is much discussion in the financial sector regarding the endowment mortgage misselling ...
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