Endowment Mortgage Policy
“An endowment mortgage is a mortgage loan arranged on an interest-only basis where the capital is intended to be repaid by one or more endowment policies. The phrase endowment mortgage is used mainly in the United Kingdom by lenders and consumers to refer to this arrangement and is not a legal term.” quoted from Wikipedia. Endowment mortgage policy is an easy method to pay off your endowment mortgages. Endowment mortgage policy is as an additional security measure for the lender. Generally, the lender applies a legal device to ensure the proper proceedings of the endowment made payable to the lender instead of the borrower. In UK endowment mortgage policy is popularly used by the lenders and customers; however it is less in action in US and Canada.
post by Beauty @ 3:35 PM
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