The disadvantages are that the plan proceeds depend on investment performance over its term and it may not produce enough funds to repay the loan. Life assurance cover if required would need to be arranged in addition to the investment segment. The tax positions indicated in these notes are based on our understanding of current legislation which may be subject to change in the future. The lender will require a charge over the property and in the case of endowment mortgages an endowment policy for the amount of the advance. They may require a charge over the policy.
Written quotations are available on request.
All mortgages are subject to status and valuation and are not available to persons under 18 years of age.