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Endowment defenders

Endowment mortgages have been defended by two leading providers.


The moves follow the widely-reported misselling scandal surrounding the investment schemes forcing many savers to top up their schemes.


Standard Life marketing manager John Hylands says: “Endowments still have a place and they have made up 10 per cent of our mortgage business last year. The anti-endowment sentiment in the media has probably gone a bit far.”


A Scottish Widows spokesperson says: “We regularly review the ability of endowments policies to meet the returns projected at outset, to date they have not highlighted any issues on the ability of policies to repay mortgages.”

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