Endowment home loan crisis deepens Up to 90 per cent of policyholders face shortfalls

From: The Sunday Telegraph London | Date: September 1, 2002| Author: | Copyright information

BETWEEN 80 and 90 per cent of endowment policyholders are now facing shortfalls on their home loans, according to new industry figures.

Last week, Eagle Star announced that, in the second quarter of this year, 80 per cent of endowment mortgage holderrs faced shortfalls on their home loans. This represented a 25 per cent increase on the same period last year.

Allied Dunbar, also part of Zurich Financial Services, revealed that 78 per of its policyholders now face shortfalls on their home loans.

A senior insurance source said: "These figures may look frightening, but Eagle Star and Allied ...

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