I have an endowment mortgage and have been told that there won't be enough money at the end of the mortgage term to pay for the house. What can I do?

This information applies to England, Wales, Scotland and Northern Ireland

There are over 10 million endowment policies linked to mortgages in the UK. An endowment mortgage combines an interest-only mortgage and an investment (the endowment policy). Throughout the term of the mortgage (usually 20 or 25 years) interest is paid on the amount borrowed to your mortgage lender and a monthly premium is paid on your endowment policy. The endowment premiums are invested with the intention that the endowment produces enough capital at the end of the term to pay off the mortgage. If your endowment policy won't reach this target you will have a shortfall and will need to pay part of the capital owed on your mortgage another way.

Many people were mis-sold endowment policies because the policy was not suitable for them. There are many reasons why an endowment policy may not have been right for you. Broadly speaking, if you were not informed of the risks associated with using an investment product to repay your mortgage and you have lost out financially as a result, you may have grounds for complaint. It is important that you complain because you may be entitled to compensation.

For more information about problems with endowment mortgages, see the Money Advice Service website at: www.moneyadviceservice.org.uk.

You can also phone their advice line on 0300 500 5000.

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