letters

letters

Endowment eulogy

Terry O'Halloran O'Halloran & Co. IFA, Lincoln Dear Sir, The FSA has embarked on a campaign to widen awareness of the need to act on endowment mortgage shortfalls. But I have sent nine case studies to the FSA that show 25-year endowments maturing with excesses of almost as much as the mortgages they covered. FSA rules force insurers to use current surrender values, which are low because of the recent weak equity market. The market has already risen 23%, yet the FSA, consumerists and large insurers and finance houses keep up the old refrain. The public's loss of confidence and the denig...