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Nationwide ditches endowment mortgages

Endowment mortgages are being ditched by Nationwide.


The move by Nationwide Investment Group follows last week&#39s scrapping of endowments by Pearl Assurance.


Nationwide Investment Group managing director Bill Tonks said: “With such low volume of sales, it is not an effective use of resources to support a training and competence regime for endowments.”


The NIG mortgage endowment plan will continue to be available to existing policyholders.

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