Sunday, April 29, 2007

Mortgage idea that will work

message from our sponsors;
Kenyans should learn something form the innovative idea used by the British to enable as many ordinary persons as possible to purchase a home. This was through the endowments mortgage where the principal loan is paid off by an insurance policy and the home owner only pays the interest and insurance policy premiums which work out to be much less than in a conventional mortgage arrangement.

Admittedly in recent years something has gone wrong and many homeowners have had found themselves in a position where they end up selling their policies at sums that do not cover their mortgage, leaving them with a big shortfall. The UK government has stepped in to protect consumers and has introduced legislation that educates home owners to sell their insurance policy through an endowments policy selling service where they can get much more from their policy.

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