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    In theory, these policies can grow to more than you need to repay your mortgage, giving you a bonus to spend on anything you li

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    These complicated financial products combine life insurance and investment growth in one package. They were most commonly used as a way of repaying a mortgage and were most popular with homebuyers in the eighties and nineties.

    The reason so many people bought them was because home loan firms and middlemen such as estate agents earned large commissions for selling. The charges tend to be 'front-loaded' meaning most of it is paid up front and therefore, for several years you will receive little if anything back if you have to stop paying the premiums.

    In theory, these policies can grow to more than you need to repay your mortgage, giving you a bonus to spend on anything you li

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    repaying a mortgage and were most popular with homebuyers in the eighties and nineties.

    The reason so many people bought them was because home loan firms and middlemen such as estate agents earned large commissions for selling. The charges tend to be 'front-loaded' meaning most of it is paid up front and therefore, for several years you will receive little if anything back if you have to stop paying the premiums.

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    ause home loan firms and middlemen such as estate agents earned large commissions for selling. The charges tend to be 'front-loaded' meaning most of it is paid up front and therefore, for several years you will receive little if anything back if you have to stop paying the premiums.

    In theory, these policies can grow to more than you need to repay your mortgage, giving you a bonus to spend on anything you li

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    g most of it is paid up front and therefore, for several years you will receive little if anything back if you have to stop paying the premiums.

    In theory, these policies can grow to more than you need to repay your mortgage, giving you a bonus to spend on anything you li

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    In theory, these policies can grow to more than you need to repay your mortgage, giving you a bonus to spend on anything you like. In practice, this has rarely happened in recent years and of the 8.5 million endowments in 2004, 6.8 million were not expected to clear the mortgage they were originally intended to pay off.

    With an endowment mortgage, you do not repay any of the capital you borrow during the term of the loan. Alternatively, the endowment policy should grow to produce a lump sum which is large enough to repay the loan in full at the end of the pre-agreed period of, normally, 25 years.

    The monthly payments consist of interest on your mortgage loan and

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