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Barclays latest to ditch endowments

Endowment mortgages are suffering a further blow with Barclays became the latest lender to pull the plug on selling the controversial policies.

Barclays is saying it sold its last endowment on December 30 following a 70 per cent decline in applications over the previous six months.

The move swells the ranks of providers who have axed endowments following criticism they will leave consumers with a mortgages shortfalls. These include Natwest, HSBC and Nationwide.

Barclays spokesperson Liz Neild says: “The outlook for endowment growth rates is not good.”


North-south housing divide

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Sun rises on Japanese investments

Lipper has revealed the four best performing sectors in 1999 were Japanese Specialist, Japan, Far East and UK Smaller Companies.Japanese Specialist sector was up 175.5 per cent, Japan up 106.5 per cent, Far East including Japan was up 85.2 per cent and UK Smaller Companies was up 78.3 per cent.In 1999 the average fund growth […]

NatWest Life quits endowment market

Endowment mortgages have taken another bashing with NatWest Life pulling out of the controversial home-loan investment plans.Natwest is following Pearl Assurance, Halifax and HSBCs withdrawals from the endowment market.Just 5 per cent of new mortgages currently being sold by the bank are endowments. About half its 280,000 customers already hold endowment-linked loans.The reputation of endowments […]

SLI bid for nervous investors

Scottish Life International hopes to allay the fears of nervous technology stock investors with a fund .SLI is hoping will win over shy investors looking to get a piece of the high technology sector&#39s action by offering “peace of mind.”The quarterly rolling fund gives 95 per cent capital protection, guaranteeing not to lose more […]


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