Mortgage Repayment Vehicles
Mortgage repayment vehicles include:
- Full with-profit endowment policy
- Low cost with-profit endowment policy
- Unit-linked endowment policy
- Individual savings account (ISA)
- Personal pension plan
Endowment policies (with profits or unit linked) serve two purposes:
- They guarantee to repay the loan in full if the borrower dies before the mortgage term (provided the payments are up-to-date),
- They provide an investment vehicle with which to repay the loan at term.
Personal Pension Plans and ISAs only provide investment with no built in life cover.
None of the information on this website is intended to promote any specific mortgage product or provide mortgage advice.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
