Endowment Linked Mortgage Repayment
An Interest only mortgage repaid by an Endowment Policy.
An endowment is arranged and premiums are paid to a life assurance company. At the end of the mortgage term, the proceeds of the life policy are used to repay the balance outstanding, although the amount is not guaranteed. The benefit of life assurance cover is included, and you may also receive a lump sum at the end of the mortgage term.