Mortgage advice 'Misleading'

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Indy Politics
(First Edition)

Many mortgage advisers give misleading and inaccurate advice, Which? says today. They recommend endowment mortgages, which can mean a commission for them of more than pounds 1,000, even when a repayment mortgage - which earns no commission - makes more sense for the client.

The magazine surveyed 72 advisers and found 78 per cent recommended an endowment mortgage, although a repayment was at least as suitable.