Endowment Mortgages still cause for complaint

New mortgage endowment cases made up almost half of the the complaints made to the Financial Ombudsman Service last year.
Walter Merricks, chief ombudsman, said : " this year marked the completion of over 500,000 financial disputes by the ombudsman since we were set up in 2001. Half of these complaints have involved mortgage endowments."
Sam Cook from Reef Mortgages said "Many of our clients are still unsure of the best way to utilise existing endowment plans. It is important that they seek advice to ensure that there are no nasty shocks at the end of their mortgage term."
Jerome Thompson Cert PFS www.you-can-remortgage.co.uk