Despite an 16 per cent rise in the £61 billion Prudential with profits fund, mortgage endowment policies values have fallen again. Their Scottish Amicable policies have also fallen. (more…)
Standard Life announced that 97 percent of its mortgage endowment policies will fail to pay off the mortgages they were supposed to cover. (more…)
The latest announcement from Legal & General reveals a big jump in mortgage endowment shortfalls. A fall in the value of the with profits fund has also led to cut in with profits bonus rates. (more…)
Norwich Union endowment policyholders have been hit by bonus cuts again. Other with profits customers are also affected. NU believes it’s mortgage endowment promise to customers facing a shortfall is still viable. (more…)
Standard Life’s Chief Executive Sandy Crombie has been awarded a knighthood in this years New Years Honours list although there’s no mention of any honours for Standard Life’s with profits customers. (more…)
A huge mortgage gap affecting an estimated 1.3 million interest only mortgages is revealed by a new survey. It seems that many surveyed were relying on house price increases to meet their mortgage capital repayments. (more…)
Legal & General announced they would cut final bonus rates on with profits policies by up to 9 percent. The cut was blamed on poor investment performance and “turbulent market conditions”. (more…)
Standard Life with profits policyholders took a hit when it was revealed that there will be cuts of up to 8 percent on payouts due to challenging conditions created by the credit crunch. 35,000 mortgage endowment customers with policies maturing this year will experience a shortfall as payouts will not be enough to repay their mortgage. (more…)
A survey of 195 endowment mortgage holders found that 86 percent of them had received warnings that their endowment policies will not yield enough to pay off their mortgage. (more…)
Mortgage repayments worry 1 in 5 mortgage holders according to the latest figures from the FSA. Their survey reveals that, of those with concerns about meeting repayments over the next 12 months, 25 percent had no plans on how they would meet these costs. (more…)