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ScotMut jumps to endowment defence


Scottish Mutual hopes to defend endowment mortgages with a.&#39support package&#39 offered to IFAs.

The Glasgow-based life office hopes the package will bring facts and figures to hand that “cut through some of the mass hysteria provoked by the press” on the controversial endowment policies.

The move goes against the grain set by Pearl Assurance and Barclays who stopped selling endowments amid falling demand and fears endowment returns would not cover the cost of mortgages.

Scottish Mutual mortgage marketing manager Mark Evans says: “We have talked to a lot of IFAs desperate to help them back endowments. Though there have been problems, good endowments are still right for some people and compare very favourably with the alternatives.”


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