People ignoring Endowment warnings

The broker's research suggests two-thirds of those yet to take any action have no plans to tackle the deficit, despite being told of the potential shortfall. James Cotton, mortgage specialist L&C, says homeowners should take action as soon as possible, and should not be afraid of higher monthly payments. "Someone currently paying their lender’s standard variable rate may well find that they can switch their shortfall on to repayment and actually reduce their monthly payments, simply by getting a better deal on their mortgage," he says. Of those questioned who have taken action some ...