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Lloyds TSB ditches endowments

Lloyd&#39s TSB is joining other high street lenders by ditching endowment mortgages.


From Thursday its interest-only endowment mortgages will be pulled following the withdrawal from the market by Nationwide, Halifax, HSBC and Barclays.


Lloyd&#39s TSB says its endowments are being axed after forecasts of continued low interest rates and a decline in sales of the controversial policies.


Lloyd&#39s TSB head of marketing Malcolm Sykes says: “Sales of endowments have fallen and there is now less of a case for this product for new customers.”

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