98% To Experience Endowment Shortfall
The Times reports that Ned Cazalet, of Cazalet Consulting the independent analyst, predicts that about 98% of the 2.7M households with endowment mortgages will suffer a shortfall.
He believes that many companies are still understating the size of the problem, because they are basing projections on an "unrealistic" 6% growth rate.
He notes that the life assurance companies "make a thing of the fact that many policies maturing today are on target, but these policies are only a handful of the total..".
That's a lot of very unhappy people.
Surely that's a large enough number of people, to make it worthwhile to get together in a class action against the life assurance companies?