The Property Sales People

This week we heard about someone who had received their 3 rd letter from the Cheltenham & Gloucester (subsidiary of that public/tax payer bailed out phenomenon known as Lloyds TSB) asking them how they proposed to pay off the balance of their mortgage in 5 years time when it reached the end of it's term. They had dismissed the first letter as an error and replied to the second letter giving as much detail as possible. I add here that the outstanding loan is interest-only so there is no capital being repaid. They have never missed a repayment – even though their business has been through and is possibly still going through the worst period in it's 25 year existence. They recently virtually paid off one mortgage account with a £25,000 cash payment and continue to overpay the balance of their loan. Not good enough for the C&G – they want details of exactly how the balance will be cleared in 5 years time! With documentary proof of the value of endowment policies that