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Endowment

How does it work?

You make two payments per month. One to the lender to repay the interest on the amount borrowed, the other to an insurance company for an endowment contract. There are mainly two types of endowment: unit linked or with profits. Both invest in a broad range of assets including stocks and shares. The capital in the endowment aims to build up over the term of the mortgage to repay the outstanding capital, although to achieve this the investment performance needs to be sufficient to build up the required capital and this performance cannot be guaranteed.

ADVANTAGES:

This type of repayment vehicle is flexible since:

  1. You can take the endowment policy with you if you move home or change mortgage lender.
  2. Endowments usually include some kind of life cover and some also include critical illness cover.
  3. If the endowment contract performs well, you may accumulate more funds than required to repay the loan.

DISADVANTAGES:

  1. Endowments are not risk free as there is investment in the stock market.
  2. There is a possibility your fund may not have built up sufficiently to repay the capital.
  3. You must keep a watchful eye on your fund's performance to help prevent this happening.

THE VALUE OF INVESTMENTS AND THE INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

For mortgages we can be paid commission or a fee. For standard mortgages our typical fee is £100 payable upon application and we will receive commission from the lender. For more complex mortgages our typical fee is £500 payable upon application and we will refund the commission from the lender.


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Company address: MARS Independent, 44 High St, Welshpool, Powys, SY21 7JQ
T: 01938 556 000
Email: info@marsindependent.co.uk

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Partners : Martin Mitten, Richard Jones, Gareth Roberts

The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

MARS Independent is an appointed representative of TenetConnectServices Ltd which is authorised and regulated by the Financial Conduct Authority. TenetConnectServices Ltd is entered on the Financial Services Register (www.fca.org.uk/register) under reference 150643.

Telephone: 01938 556 000 | info@marsindependent.co.uk

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