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Endowment Mortgage

An interest only mortgage supported by an endowment policy. During the term of the mortgage only interest on the mortgage is paid to the lender. At the same time premiums are paid into an endowment policy which is designed to mature at the end of the mortgage term.

The proceeds of the endowment policy are designed to repay the mortgage debt, although with a low cost endowment policy it is not guaranteed that the proceeds will be sufficient to repay the debt. In addition to providing the investment to repay the mortgage debt the endowment policy will also include life assurance which will repay the mortgage debt in the event of the death of the policyholder within the policy term.

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Your home may be repossessed if you do not keep up repayments on your mortgage. Site Last updated 13th July 2005. © Martin Mortgages, Stableford Lodge, Jaras Drive, Baschurch, Shropshire SY4 2DH Martin Mortgages Ltd is an appointed representative of Thinc Assured Network Limited which is authorised and regulated by the Financial Services Authority. This site is intended for UK Consumers only. Our typical fee for advice is 1% of the mortgage advance or £500 whichever is the greater. The overall cost for comparison is 8.4% APR. The actual rate available will depend on your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Not all buy to let mortgages are regulated by the Financial Services Authority. Think carefully before securing other debts against your home. Please note Commercial Mortgages are not regulated by the Financial Services Authority.
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