The Endowment Diary

The Endowment Diary

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

Wednesday, March 01, 2006

You Have Been Warned

You Have Been Warned

The Financial Services Authority have stated that it is standard practice for endowment providers to continue paying commissions to mortgage advisers, while policies remain active, even if the holders have paid off their mortgage.

This means that even though the endowment policy that you hold may not reach target, the person/company who sold you the mortgage will still be receiving a commission.

This of course will reduce the value of the policy.

Happy with that?

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