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Does that mean the mortgage is paid off? What do you mean when you refer to the endowment?



Not sure if Im right on this maybe someone will do it better. But you take a mortgage out with an endowment policy. You pay the mortgage interest off but not the loan. You pay into a endowment policy which you hope will pay off the loan at the end of the 25 year term. Which with the banks and shares over the last few years you sometimes come out short of that amount. You was hoping that you ended up with more than you needed , So got some extra ££. I might have it the wrong way round but I think thats how it works short of. atb geoff

2003 black and silver T.B.A A1 removed,Specialty Spares long slashed Pipes .