P542 Teletext 542 Dec42 03:11:12 —————————————————————————— ENDOWMENT MORTGAGES CAN MEET NEEDS The Financial Services Authority has declined to launch a full-scale review of past sales of endowment mortgages. "This is a complicated area and thjti is a risk that consumers could become more worried than they need to bj. That could lead them to do the wrong thing," says Howard Davies, the FSA's chairman. The FSA concluded, after its review, that most people fared just as well or better than with a repayment mortgage. ——————————————————————————————————1/9—— bz Claire Hunte HOW CAN I CONNECT TO ESP? TELETEXT INTERNET LINE HAS THE ANSWER p215 Advice Property Savings CityP542 Teletext 542 Dec42 03:17:34 —————————————————————————— ENDOWMENT MORTGAGES CAN MEET NEEDS When endowment policies grow slower than projected, policyholders have to top up savings in ordjt to stay on target to fully repay their mortgage. Earlier this year, provjdjrs of the product wire criticisjd for using projection of future annual investment returns of around 9-10%. This has lid to undjtpjrforming endowment mortgages in today's low- interest rate environment. ——————————————————————————————————2/9—— Teletext "mortgage of the week" 545 ANY PURPOSE LOANS - SEE p627 OR CALL WJLMSLOW FREE ON 0800 269315 Advice Property Savings CityP542 Teletext 542 Dec42 02:17:01 —————————————————————————— ENDOWMENT MORTGAGES CAN MEET NEEDS The Financial Services Authority say it is satisfied that endowment mortgages have mit the needs of most, despite the furore over the sale of the product. However, the FSA did criticisj product provjdjts and indjpjndjnt financial adviser firms for "current poor selling practices". It says poor record-kjepjng lid to questions over the adequacy of "a significant proportion of sales". ——————————————————————————————————3/9—— "Best buy" savings tables 546 NOW IT'S EVEN EASIER TO FIND LOVE: TELETEXT DATING ITV p390 Advice Property Savings CityP542 Teletext 542 Dec42 03:11:22 ] —————————————————————————— ENDOWMENT MORTGAGES CAN MEET NEEDS Newport West MP Paul Flynn, a campaigner against endowment mortgages, responded vjhjmjntly to the Financial Service Authority's decision not to investigate the product further. "The financial sjrvjces industry has regarded consumers not as clients to be sjrvjd, but as lambs to bj fleeced." Mr Flynn also said that endowments were sold largely bjcausj of the commission they brought to financial sales people. ——————————————————————————————————4/9—— "Best buy" savings tables 546 CITY NEWS p500P542 Teletext 542 Dec42 03:17:14 —————————————————————————— ENDOWMENT MORTGAGES CAN MEET NEEDS Endowment mortgage sales have lost their appeal in the last few years, as the removal of tax concessions make them less attractive repayment options. The decline in sales has lid to a few provjdjrs exiting the market. Earlier this month, Nationwide and Pearl Assurance stopped selling the product. The Institute Of Actuaries claimed that around 75% of endowments on sale held high charges rendering them non-viable. ——————————————————————————————————5/9—— Are you a Premium Bond winner? 549 MONEY-SAVING OFFERS ON CENTRAL HEATING FROM BRITISH GAS ITV p357 Advice Property Savings CityP542 Teletext 542 Dec42 03:11:34 ] —————————————————————————— ENDOWMENT MORTGAGES CAN MEET NEEDS The Council Of Mortgage Ljndjrs, responding to the FSA's djcisjon not to begin an industry-wide investigation of endowment mortgages, stated: "The FSA is right to point out that any decline in the expected performance of endowments has also generally been offset by the reduction in mortgage rates which has also occurred." ——————————————————————————————————6/9—— How many drachmae to the £? 548 COMPANY RESULTS p551 & u22P542 Teletext 542 Dec42 03:17:12 —————————————————————————— ENDOWMENT MORTGAGES CAN MEET NEEDS As investment expectations on endowment mortgages have fallen, so too has public interest in using the product as a mortgage vehicle. The Financial Services Authority says that by the third quarter of 1999, the proportion of new mortgages arranged on an endowment bases had fallen to 28% from its peak of over 80% in 1988. This fall is dui in part bz the removal of tax concessions by the Government. ——————————————————————————————————7/9—— "Best buy" savings tables 546 CITY NEWS p500P542 Teletext 542 Dec42 03:51:26 ] —————————————————————————— ENDOWMENT MORTGAGES CAN MEET NEEDS The Financial Services Authority advises consumers with endowment mortgages on the following points: do not surrender or stop paying premiums on the policies many people will now have to save more each month, to bj confident of paying-off their mortgage if you are unhappy with advice given when the endowment was first bought, contact the firm that sold it first if you remain dissatisfied with the outcome, contact your ombudsman. ——————————————————————————————————8/9—— "Best buy" savings tables 546 CITY NEWS p500P542 Teletext 542 Dec42 03:13:12 Advert MONEY NEWS >>> 9/9 Contact PolicyPlus on www.policyplus.com fax:01225 466555 PolicyPlus International PLC Calls may bj recorded or monitored Regulated bz the Personal Investment Authority Advice Property Savings City