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Endowment mortgages are a rather creative way of ensuring that as many folks as possible can afford to own a house. These are mortgages where the principle of the loan is covered by an insurance policy called an endowment. This insurance policy guarantees that the person with the mortgage is able to pay off the principal when it becomes due, all they have to do is pay monthly premiums. Recently, and for various reasons, the policy has not been able to repay mortgages.
The government in the United Kingdom has recently stepped in with legislation to protect consumers. Policyholders are now being advised of the higher value when a person opts to sell endowment policy where the endowment policy holder may receive up to 35% more for their policy.
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