Halifax Endowment Mortgage

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brian_j_evans
brian_j_evans Posts: 1 Newbie
in Reclaim mortgage fees, council tax, etc
Hi,

I took out a Halfax endowment mortgage in the early 1980's. I found I had practically paid the mortgage but also found there was no shortfall. I was sold the mortgage via an agent who visited my house. Halifax say they have no records, yet due to finding myself in the position of not having a shortfall I was left to mortgage again. I took my business to HSBC and got a mortgage with them. *Halifax took my payments for the endownment each and every month, I never missed a payment yet no shortfall.

I'd appreciate hearing from anyone that can or may be of help please? Thank you.

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  • societys_child
    societys_child Posts: 7,110 Forumite
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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    brian_j_evans wrote: »

    I took out a Halfax endowment mortgage in the early 1980's. I found I had practically paid the mortgage but also found there was no shortfall.

    That's brilliant news. You can now use the endowment for whatever you want, if the mortgage is paid off.

    Round the world cruise?
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    . I found I had practically paid the mortgage but also found there was no shortfall.

    in the history of endowments, the majority hit the target and provided surpluses. It was only the later years that they went off.

    You had yours in the days of MIRAS (and double MIRAS) and LAPR.
    Halifax say they have no records, yet due to finding myself in the position of not having a shortfall I was left to mortgage again. I took my business to HSBC and got a mortgage with them

    Why do you think Halifax would have any records?
    *Halifax took my payments for the endownment each and every month, I never missed a payment yet no shortfall.

    Halifax were a building society. Not an insurance company. They would not have taken payment for an endowment policy. You would pay Halifax the interest only.

    I'd appreciate hearing from anyone that can or may be of help please?

    help you how?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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