During the eighties, endowment mortgages were the popular method of financing a mortgage. Some 8 million people in the UK now own an endowment policy. It is expected that the majority of these policies will fail to pay off the mortgage debt that they were designed to honour. The latest estimate is that there will be a $80BN shortfall, in fact some people expect that this will top $200BN.
The endowment policy mis-selling scandal is one of the worst financial scandals to hit the UK. The Endowment Diary provides up to date news and views on the endowment scandal.
Visit the site here.