P544 Teletext 544 Jan12 22:47:12 ————————— ——————— ———————————— WILL THE ENDOWMENT PAY THE MORTGAGE? There is a continual rumble of worry about whether endowment policies will bj able to pay off mortgages at the end of their terms. Experts say that because we have a low inflation, low interest rate economy, endowments do not show the returns they used to and when they mature, there may not be enough cash to cover the loan. Not surprisingly, demand for endowments has declined hugely recently. ——————————————————————————————————1/8—— by Hilaire Gomet NEED LEGAL ADVICE? see p215P544 Teletext 544 Jan12 22:44:44 ————————— ——————— ———————————— WILL THE ENDOWMENT PAY THE MORTGAGE? People have become disatisfied with endowment mortgages because it looks as if thousands of endowments will not have grown sufficiently after 20 years to pay off the mortgage. The Institute of Actuaries recommends that people should have the less risky simpler, cheapjt and flexible repayment mortgage. With a repayment mortgage you repay the interest and some capital each month. ——————————————————————————————————2/8—— Credit card "best buys" 547 NOW IT'S EVEN EASIER TO FIND LOVE: TELETEXT DATING ITV p390 Mortgages Savings Borrowing CityP544 Teletext 544 Jan12 22:41:12 ————————— ——————— ———————————— WILL THE ENDOWMENT PAY THE MORTGAGE? At one time, most mortgages were based on endowment policies. Now demand has shrunk so much, HSBC, Nationwide, Pearl Assurance and NatWest no longer offer them. NatWest, the UK's seventh largest mortgage lender, said only 5% of its home loans were backed by endowments. For that reason, it was no longer cost effective to continue selling them. ——————————————————————————————————3/8—— How many pesetas to the £? 548 MONEY-SAVING OFFERS ON CENTRAL HEATING FROM BRITISH GAS ITV p357 Mortgages Savings Borrowing CityP544 Teletext 544 Jan12 22:48:20 ————————— ——————— ———————————— WILL THE ENDOWMENT PAY THE MORTGAGE? There is a growing fear among people with endowment mortgages that they may have to save more each month if they are going to pay off the mortgage. Axa Sun Life points out that people with established endowments heading for maturity should have no problems. "Those with new mortgages will already be paying more in premiums," it adds. So it's those in the middle that may have to find extra funds. ——————————————————————————————————4/8—— Teletext "mortgage of the week" 545 INSHORE FORECAST IS NOW ON p158P544 Teletext 544 Jan12 22:45:31 Advert MONEY >>> IF YOU ARE WORRIED THAT YOUR MORTGAGE WILL NOT BE PAID OFF BY YOUR ENDOWMENT POLICY DON'T SURRENDER THE POLICY BACK TO THE LIFE COMPANY AAP CAN PAY UP TO 35% MORE THAN THE SURRENDER VALUE GIVING YOU A CASH LUMP SUM NOW! ENABLING YOU TO TAKE A SMALLER MORTGAGE GET UP TO 35% MORE! 5/8| Regulated by the Personal Investment Authority Mortgages Savings Borrowing CityP544 Teletext 544 Jan12 22:46:12 ————————— ——————— ———————————— WILL THE ENDOWMENT PAY THE MORTGAGE? In March, Axa Equity & Law will be announcing bonuses on sums assured which are expected to bj 4.5%. An Axa spokesman says: "Our bonuses are now on a plateau and they are unlikely to rise significantly for a while. "This reflects the change in the investment climate where everyone is experiencing a lower rate of return but it doesn't mean necessarily policies won't perform sufficiently." ——————————————————————————————————6/8—— Credit cards & personal loans 547 PREMIERSHIP FOOTBALL ACTION p170P544 Teletext 544 Jan12 22:46:20 ————————— ——————— ———————————— WILL THE ENDOWMENT PAY THE MORTGAGE? Steve Muir of Axa Sun Life commented that endowment policy holders can: Ask their independent financial adviser for advice. Ask for a policy review. Restructure their payment method. Increase premiums. ——————————————————————————————————7/8—— Are you a Premium Bond winner? 529 PREMIERSHIP FOOTBALL ACTION p170P544 Teletext 544 Jan12 22:40:11 ————————— ——————— ———————————— WILL THE ENDOWMENT PAY THE MORTGAGE? It's a worrying time for endowment policy holders but most of them will find that when their policy matures it will provide sufficient funds to pay off all the mortgage. For the few who will find it won't there are fairly simple solutions like remortgage, says Axa Life. Talking to an independent financial adviser might bj a good idea. Try IFA Promotion: 0171 833 3131 ——————————————————————————————————8/8—— Home loan "best buys" 545 BE TOTALLY ENTERTAINED p400