The subject was about twins who took out mortgages at the same time 17 years previously – the endowment mortgage had accumulated enough value to pay off the mortgage early and leave a bit over for spending, while I guess the repayment mortgage the other brother opted for was still running and therefore still costing money.
The letter suggested the client who was still paying out was suing for bad advice because he had not been set up with an endowment mortgage like his brother.
The notion of this is shocking and I am surprised the prospect of bad repayment mortgage advice is not discussed further since the whole country seems to be defaulting back to the Victorian way of repaying mortgages.
Frank Jurga
Mortgage Genius
