Ideal way to own a home frustrated

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The endowment mortgage has long been considered an ideal way to get as many ordinary people as possible to own homes. However in recent times major problems have cropped up with the endowment insurance policy that is supposed to pay off the principal sum of the loan.

An endowment is an insurance policy and the policy holder must pay monthly premiums. Endowment policies were issued in the 70’s and 80 and were thought to be able to pay off the mortgage loan completely.

Sadly for various reasons, many of the endowments are plagued by a shortfall and end up not being enough to cover the mortgage amount coming due. In too many cases, policyholders have surrendering them to the issuing insurance companies for ridiculously low prices