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endowments

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vpetite | 19:29 Thu 03rd Dec 2009 | Business & Finance
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Do mortgage companies still require endowments to cover an interest only, short term mortgage?

It is to be an extension of my existing mortgage. I fortunately have a great deal of equity in my house; which I will be selling next year......... and will then repay the second loan.

Existing loan ends next year also.

Any advice?
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No, they just remind you it's your responsibility to make provision for repaying the capital. I foresee a lot of people failing to be able to repay in the next 10 years or so
20:08 Thu 03rd Dec 2009
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thank you, that is what I thought
20:38 Thu 03rd Dec 2009

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