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Scale of endowment shortfalls revealed

Standard Life figures indicate nearly half its 1.2m endowment mortgage policies are off target and on its current projection rates 530,000 of its customers will not fully repay their mortgages.


120,000 mortgage holders at Royal Insurance and Sun Alliance, 200,000 at Scottish Life, 100,000 at Prudential; 140,000 at AXA Sun Life, 110,000 at Allied Dunbar, 90,000 at Eagle Star, 73,000 at Norwich Union and 12,000 at Royal London are all in the same boat according to the survey.


The Consumers&#39 Association spokesperson says: &#39This is an appalling catalogue of failure. It is our concern that huge numbers of people were given the wrong advice”.

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