>> a bad press for a while when people had a shortfall against the outstanding mortgage.
They were oversold in the early days. Promises, probably unachievable, of a large excess after the mortgage was paid off, few warnings of a possible shortfall. In my case I took one out because it was the only way I could get a hefty 3.75x joint earnings mortgage at the time.
At the end of the day 25 years later there was a shortfall of £4k, but of course that mortgage had long since been dumped in favour of a repayment one, the the shortfall was a mere tiny dent in a very welcome cash boost. That, along with a cash chunk taken from my pension, allowed me to be retired and mortgage free at 55 years of age.
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