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IFAP produces endowment mortgage factsheet

IFA Promotion has produced a factsheet to help consumers understand endowment-linked mortgages and encourage them to seek independent financial advice.

The “Confused about endowments?” factsheet explains in a question and answer format why endowments are linked to mortgages, how endowments work, why providers are reviewing endowments and what people should do if their policy is unlikely to cover their mortgage.

It also outlines the options available for people to ensure their mortgage is covered, like increasing premiums, taking out an additional policy, extending the term of the policy and taking out an alternative investment.

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