Concern over endowment loan survey

UP to two-thirds of endowment mortgages could fail to pay off their loans according to a shock new survey.

The survey, which is understood to have been carried out by the Irish Insurance Federation (IIF), found that at a 6% fund growth, two-thirds of policies will fail to clear mortgages at maturity.

Even at an 8% return, up to 50% of those with endowment mortgages could be faced with a black hole, forcing them to borrow further in order to pay off their mortgages.