ENDOWMENT POLICIES

Early day motion 238, tabled 22 November 2006 by Gregory Campbell (DUP). Signed by 30 members.

That this House notes that about 80,000 endowment policies are sold each year in the United Kingdom; acknowledges that there is a general recognition that while these policies provided a useful repayment vehicle for paying off mortgages when interest rates and stock market returns were much higher, this has not been the case for some time; and calls upon the financial services industry to undertake a fundamental re-assessment of the commission basis on which many of these products are sold in order to protect home owners who have depended on policy proceeds to redeem their mortgages.

Signatures by party: Labour 12, DUP 6, Conservative 5, Liberal Democrat 3, Social Democratic and Labour Party 2, Plaid Cymru 1, UUP 1.