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Anon at 15.24

You are absolutely correct.

Well over 30 years ago I worked out that Endowment Linked Mortgages were no longer going to be effective in paying off a mortgage debt at the end of the term, and this was ahead of any publicity to that effect.

So I started to advise clients that the endowment mortgage they'd been sold by their chatty and ever so friendly estate agent or building society, was not going to pay off the debt at the term end.

My younger clients under 30 years of age almost without exception took great exception to what I had said and accompanied that with naked hostility and verbal abuse.

I learnt to 'modify' the way I delivered that advice, as my frankness and honesty was undermining the relationship. That was quite difficult to achieve, and none ever acted on my advice ......

There's none so deaf as those who don't want to hear !!

As a postscript to this unhappy story, I gave the same advice to my daughter who was and is a GP and it caused animosity and upset with a distant cousin of her fiance who as a financial advisor had arranged the endowment mortgage.

My wife told me to shut up.

Daughter and husband now have a larger mortgage debt and of course only part is endowment linked. They making extra capital repayments to make up for the anticipated shortfall from the maturing endowment which still has 10 years to run.