The Endowment Diary

A few statistics, provided by the FSA to the Treasury Select Committee investigating the Endowment Mortgage mis-selling scandal of the eighties, to depress you:

• There are estimated to be 5.3 million people holding endowment polices, who face a shortfall



• The average shortfall is expected to be £5500



• The total value of the shortfall is expected to be £30BN

I fear that these are very optimistic estimates, to say the least; and suspect that the average shortfall will be in the region of between £10K-£20K.

On the this basis, we are likely to see a total shortfall of around £100BN.