Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Endowment Mortgage

What is an Endowment Mortgage?

An Endowment Mortgage is an interest-only mortgage where the Capital is expected to be repaid by the proceeds of an insurance policy on maturity.

Endowment Mortgages were hugely popular in the 1980s and 1990s, but many were mis-sold and many customers turned out to be at a 'high risk' of shortfall when the term was due to expire.

In many cases they could be described as complicated financial products, which combine life insurance and investment growth in one package. Essentially, you do not repay any of the capital you borrow during the term of the loan, but the endowment policy should grow to produce a lump sum large enough to repay the balance in full at the end of the pre-agreed period, normally 25 years.

Monthly payments are made up of interest on the mortgage loan and the premium for the endowment. Within the package you also pay for life insurance which will repay the loan if you die but there is no guarantee your endowment will pay off your mortgage.

Q: Was I mis-sold an endowment mortgage?

A: If you were misled on the details about endowment mortgages by the provider before agreeing to the terms then you could have been mis-sold the mortgage and as such could be entitled to compensation. If however you have been underwhelmed by the endowment’s performance you will not be due compensation, as it’s the nature of how these mortgages work.

Jargon Buster

Use the links below and the resulting list of terms on the right to locate the term you are looking for. If you can't locate it, please get in touch.