Endowment holders act on shortfalls

2.2 million households with an endowment-linked mortgage – 82% of the total - face an average forecast shortfall of £7,200 according to research commissioned by the FSA, although they will not necessarily all have grounds for a misselling complaint. 69% have already taken measures to tackle the deficit, which include partial switching to a repayment mortgage, extra saving and capital repayment, filing a complaint or taking advice; 14% plan to act in the future. The study, based on face-to-face interviews, covered 1,242 households in the final quarter of last year. It estimated that 2.7 million or 11% of all households in Great Britain have an endowment mortgage.