Wednesday, April 04, 2007

Different Mortgages

I think many of us know what mortgages are, but how many of us know what Endowment mortgages are? This is something i learned about today. As it turns out, endowment mortgages are where the interest on the priciple amount is due and that principle is covered by a type of insurance known as an endowment policy. This policy is known as endowments in the United Kingdom. Now they did seem to have a problem a while ago which caused many people to sell them back at ridiculously low prices. In order to benefit the sellers, the goverment recommended them to be sold through an endowment policy selling service. It has been know that by selling through such a service, one might be able to receive up to 35% more for their policy.