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NatWest Life quits endowment market

Endowment mortgages have taken another bashing with NatWest Life pulling out of the controversial home-loan investment plans.


Natwest is following Pearl Assurance, Halifax and HSBCs withdrawals from the endowment market.


Just 5 per cent of new mortgages currently being sold by the bank are endowments. About half its 280,000 customers already hold endowment-linked loans.


The reputation of endowments took a battering in Decemeber when it was revealed shortfalls for nearly £3m policyholders may force them to pay top-up fees.

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