The Endowment Diary

The Endowment Diary

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

Thursday, November 24, 2005

Never Ending Debt

Never Ending Debt

According to the Office for National Statistics, approximately 600,000 people over 65 still have a mortgage. This figure means that 10% of pensioners are still paying mortgages.

Apparently many pensioners are remortgaging, at expensive rates, because of a shortfall on their endowment mortgages.

It seems that a lifetime of debt is what many owners of these useless policies have to look forward to.

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