Bessie500 - DIL is a very determined young lady. She is doing an apprenticeship but at 20 is already applying for well paid jobs within the company. She is intending to be on very high pay within the next five years. Her joke is she will not stop until she is CEO of the company.
My first mortgage was an endowment but i had very good advice from my financial adviser then.He explained it was the cheapest way to get on the ladder and to treat the endowment policy as a savings policy for later.
When i moved i went to repayment and sold the endowment policy, giving me a nice lump sum to play with.
The products are there for a reason, there isnt one product that suits everyone.
Interest only is a good cheap way to get on the ladder for those with sense to see it for what it is, ie a short term option.
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Topic: mortgage advice please !!!
