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ENDOWMENT MORTGAGE SHORTFALL

We deal with endowment mortgage shortfall claims on a no win no fee basis and if the complaint is unsuccessful we will not make any charge to you. Our claims are completely risk free and you will not have to pay for any expenses during the course of the claim. If you would like free advice on the telephone, without obligation, just complete the contact form.

In the Sixties and Seventies this problem did not exist as most life insurance companies were selling ‘full’ endowment policies that were guaranteed to enable borrowers to pay off their mortgage at the end of the term which was then usually 25 years. In those days, this method of repayment of a loan used to buy property was advantageous when compared with a straight repayment mortgage because of the way premiums were treated for tax purposes. This type of policy usually produced a guaranteed sum that was sufficient to pay off the amount of the building society loan and there was often additional profit at the end which could be distributed to the policy holder. By the late Seventies there was considerable competition in the market place and numerous companies started to cut costs and premiums and offer a ‘low cost policy’ that was less expensive but there was no guarantee that the amount received when the policy matured would be enough to pay off the mortgage. The amount received therefore varied substantially and in the main was dependent on how well the insurance company invested all of the premiums received by them on the Stock Market. There are in fact many years were growth is stagnant and there is on occasion negative growth in a particular year and the majority of policies sold recently have a surrender value less than the total premiums paid. The effect of this is that of over 6 million of these UK policies over 80% are not ‘on target’ to reach the anticipated sum at maturity and millions of mortgage loans will not be fully repaid at the end of the term of the mortgage loan. Insurance companies that are affected by endowment mortgage shortfall include:-

Axa Sun Life
Axa
AMP Pearl Assurance
Allied Dunbar
Alba Life
Abbey National Life
Abbey Life
Bupa Skandia
Britannic Assurance
Britannia Life
Black Horse
Barclays Life
Barclays
Crowe Life
Countrywide Assured
Co-op Insurance Society
Commercial Union
Colonial
CGNU
Countrywide
Co-op
Colonial Prudential
Clerical Medical
CIS
Cassidy Life
Canada Life
Equity & Law
Equitable Life
Equitable
Ecclesiastical Financial Services
Ecclesiastical
Eagle Star
Friends Provident
Guardian Scandia
Guardian
General npi
General Accident
GAN Life
HSBC
Lutine
Lloyds TSB Life
Legal and General
London & Manchester
Liverpool and Victoria
L & P
Midlands Life
MGM Assurance
NPI
Norwich Union
NFU Mutual
National Mutual
Old Mutual
Prudential
Pegasus
Pearl Assurance
Royal Scottish Assurance
Royal London Zurich
Royal London
Royal Liver
Royal Life
Royal Sun Alliance
RNPFN
Reliance Mutual
Refuge Assurance
Swiss Life
Sun Life of Canada
Sun Life
Sun Alliance
Standard Life
Skandia Life
Scottish Widows
Scottish Provident
Scottish Provident
Scottish Mutual
Scottish Life
Scottish Legal Life
Scottish Friendly
Scottish Equitable
Scottish Amicable
Scandia
Save & Prosper
Tunbridge Wells Equitable
Tunbridge Wells
Teachers Assurance
Unum
United Friendly
Wren Life
Woolwich Life
Winterthur Life
Woolwich
Wesleyan Assurance Society
Zurich Life

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