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£1000s Slashed Off Mortgage Payouts

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from the daily record

Standard Life leave savers in the lurch

HOMEOWNERS were rocked by new mortgage misery last night as it was revealed Standard Life's endowment payouts had crashed by 22 per cent.

The Edinburgh mutual also announced they were cutting bonus rates for many of their policies.

Someone whose 25-year £50-a-month endowment matures now will be paid £40,459, compared with the £49,511 they could have expected a year ago, the company said yesterday.

Standard Life have 1.1million endowment policyholders - about 100,000 of them in Scotland.

They are already reeling from numerous cuts in payouts in recent years and many are trying to cope with unexpected shortfalls at the end of their mortgage term.

Standard Life are among a number of life assurance groups facing compensation claims over the sale of endowment policies, particularly in the late 70s and early 80s. And hard-pressed policyholders were incensed when £600,000-a-year boss Sandy Crombie treated himself to a £65,000 Porsche last year as the firm axed hundreds of jobs and bonus payments fell.

looks like more endowment misery

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They are already reeling from numerous cuts in payouts in recent years and many are trying to cope with unexpected shortfalls at the end of their mortgage term.

I work at the same building as Standard and Life Fenchurch Street in the city. There was an old chap who sat outside with a billboard which said something like

"Standard Life robbed my wife of her pension... etc"

He has stopped turning up since it got cold. Poor chap - I wonder if he'll be back next year.

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I work at the same building as Standard and Life Fenchurch Street in the city. There was an old chap who sat outside with a billboard which said something like

"Standard Life robbed my wife of her pension... etc"

He has stopped turning up since it got cold. Poor chap - I wonder if he'll be back next year.

Hope he and his wife survive the winter

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I work at the same building as Standard and Life Fenchurch Street in the city. There was an old chap who sat outside with a billboard which said something like

"Standard Life robbed my wife of her pension... etc"

He has stopped turning up since it got cold. Poor chap - I wonder if he'll be back next year.

Bless, nothing like a bit of frontlining it. Maybe a blanket to persuade him back

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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