Endowment mortgage approaching maturity?

Brendan Burgess

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What happens when the 20 years is up? Does the insurance company simply pay the money to the lender and the balance if any to the borrower? Or is there more paperwork?

The specific context is an Irish Nationwide endowment mortgage about to expire in October. If the Society has not demutualised by then, can the borrower delay paying it off?

Brendan
 
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