Advisor to the Owner
Not the most riveting of threads, but I'm wondering if any posters have currently, or in the past, had an endowment mortgage? Our first house was only 35000 quid 24 years ago. We opted for the endowment type mortgage. We have since moved house a few times and have always opted for the straight repayment mortgages on subsequent moves. For 24 years we have been receiving 'Amber' or 'red' warning letters telling us the endowment is not performing well enough to meet the 35000 quid target. Today, for the first time in 24 years, we received a letter saying 'green' alert, your endowment is now on track to meet its target and give you a surplus. Hopefully next year we might end up a few bob up on the deal once it matures and is cashed in. Have any posters done well with endowment mortgages or have any had a bit of a 'mare' with one. Just interested, like.