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CML endorses FSA endowments&#39 announcement

The CML have responded to this week&#39s announcement by the FSA by re-affirming the need for borrowers with endowment pensions to monitor their plans for repayment

It states the FSA&#39s assertion that existing endowment customers have generally fared better than if they had taken out a repayment mortgage was re-assuring.

It advises borrowers to consider the options available to them, and recommends seeking advice.

CML&#39s Director General Michael Coogan says: ” People receiving letters indicating that their endowment might not meet its target of repaying their mortgage should not be panicked into surrendering it.”

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