The Endowment Diary

The Endowment Diary

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The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Friday, August 06, 2004

What Goes Up, Goes Up Again

Interest rates went up again yesterday, they now stand at 4.75%. This rise will inevitably negatively impact mortgage rates.

City "experts" predict that the full 0.25% will be passed on to borrowers; with more rate rises likely, mortgage holders face an uncertain future.

This is of course exacerbated by the fact that the shortfalls on the non performing endowment policies are predicted to worsen.

All in all, it is not a very rosy picture.

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