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  #1  
Old 30-01-2004, 04:26 AM
 
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Default Key Post: IFSRA Consumer Guide To Mortgages.

Hot off the presses

www.ifsra.ie/frame_main.a...pu_nav.asp
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  #2  
Old 30-01-2004, 06:57 PM
Liam D Ferguson
 
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Default Re: >> IFSRA Consumer Guide To Mortgages

I think this is a very good guide.

I'm a little amused at how negative they are on Endowment Mortgages. I don't sell endowment mortgages because in general I believe that they're bad value for money except in a very limited set of circumstances. (Pension mortgages excluded).

But on page 6 of the guide, they show actual investment performance vs projected investment performance, with the former falling short of the latter every single year for 20 years. Granted they do preface the table with a note saying that it represents how the things can "sometimes" fall short, but surely in reality, few endowment policies sold today will fall short of projections consistently every year? And a consumer could be forgiven for believing that this is what always happens with endowments.

But I guess if it steers more consumers away from endowments, it's probably no bad thing.
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  #3  
Old 30-01-2004, 07:31 PM
rainyday
 
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Default Re: >> IFSRA Consumer Guide To Mortgages

Just heard Mary O'Dea explaining the Guide and mortgages in general on Gerry Ryan's show.
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  #4  
Old 30-01-2004, 07:51 PM
 
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Default Re: >> IFSRA Consumer Guide To Mortgages

THey should have made it more explicit that mortgage REPAYMENT protection insurance is not the same as mortgage protection life assurance and that it is a completely optional extra which might be better dealt with in other ways (e.g. salary protection insurance, PHI etc.). They note the difference in the glossary only.

However that's a minor quibble and the guide seems very good.
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