Can anyone recommend a site which provides general information on U.K. mortgages, particularly one which compares and contrasts endowment mortgages with repayment mortgages? Also my son has an endowment mortgage which he is thinking of changing to a repayment mortgage. What can he do to minimise the cost of such a change i.e could he attempt to sell the existing endowment policy to another company rather than just accept the surrender value from the provider? Thanks.
mortgages. Endowment v Repayment
Sep 10, 2003
1 Replies
He doesn't have to get rid of the policy even if he converts the mortgage to repayment. He may be able to sell it on the TEP exchange if it's a conventional withprofits one, or just keep it going. Or he could move only part of his mortgage to repayment, to take the load off the endowment.
Rob Graham
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