Many consumers across the UK are finding that the rate of return on their endowment mortgage is starting to fall. This is bad news for those that rely on their payments from an endowment mortgage for their monthly living expenses. Thousands of consumers were convinced a few years ago that an endowment mortgage was a smart decision but many are now regretting their choice. Although the rates of return for endowment mortgages are falling, many of the companies that offer these financing options are still bringing in more money.This has left many to wonder whether endowment mortgage companies are being entirely honest about their return rates. In fact, several consumers have alleged fraud in cases where they were told that their endowment mortgage would have a high rate of return, only to find that the opposite was true. Numerous agencies are investigating these endowment mortgage companies to get to the bottom of these allegations. For those with endowment mortgages right now, the results cannot come quickly enough. Many are trapped into their current low rate and finding it hard to make ends meet each month. Experts don’t have much advice for these consumers, other than they may want to consider trying to get out of the endowment mortgage contract and seek refinancing.
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