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mutty2
mutty2
Posts: 1 Newbie
I have a friend who missed a payment on her endowment part of her mortgage years ago, she was not contacted to remind her or tell her it had been missed, the next thing she knew it had been withdrawn and now she is still paying her mortgage which will never end because she has no endowment to cover it, can she do anything?
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Comments
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how much is in the endowment? - its not a case of you miss one payment and you have lost the full pot.
how much is the mortgage?
When was the payment missed?
What happened to all of the subsequant payment she made? If your friend stopped making payments all together then its your firends fault for not putting the money aside.
When is the endowment due to mature?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
How many years was the plan running before this missed premium?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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