endowment dates differ

mabelmb54 · 4 August 2012 at 5:43PM

I took out a mortgage with the Leeds Permanent Building Society (now Halifax) interest only and an endowment with Norwich Union (now Aviva) on 01/11/1991. I recently noticed that the mortgage ends 15/11/2015 and the endowment ends 15/11/2016 as I signed for these at the same time surely they should end at the same time. I have contacted both and the only reply was from the Halifax who said that they have updated their records and can confirm that I will have to pay another years interest on my mortgage unless I can repay by another means.... not an option. Any advice appreciated.

Thrugelmir · 4 August 2012 at 5:50PM

Although a mistake appears to have been made. There is an onus on you to have checked what you were signing. Your lender appears to have resolved the issue. So are you unhappy with the way its been dealt with?

mabelmb54 · 4 August 2012 at 6:02PM

I am gutted as I thought the mortgage would be paid off for Nov 2015

Thrugelmir · 4 August 2012 at 6:19PM

Will the endowment policy proceeds be sufficient to repay the mortgage?

dunstonh · 4 August 2012 at 9:40PM

Have you remortgaged at any time or moved house or bought new deals? That often accounts for differences as the revised deal can often involve a new redemption date as the months move around.