where can i get a mortgage endowment?

hi there,

i am looking for an endowment for my mortgage loan. i know these are very risky these days which means i am having trouble finding anyone who offers them.

a bit of background: we took out our mortgage in 2004 – house price was £62,500 – mortgage given £77,000!!! – 2 lots of fixed rate deals later and the associated fees and charges and we owe around £86,000. credit rating now v. bad so not in a postition to get a good fixed rate deal anywhere else, we have been on the standard variable rate for over 2 years now. i am now paying interest only on my mortgage due to high outgoings (which should come down considerably next year)

we are 33 and 35 so obviously don’t want to be paying interest only for very much longer and would also like to redue my term from the 30 years it is just now to maybe 20.

what i was thinking was to invest in some sort of endowment just now – putting away something – anything towards my mortgage. i am not disciplined enough to put it aside for savings. something that may (and i stress may) make some money so in a couple of years time, come of interest only and have a little something to put towards the mortgage, then reduce my term and go back onto repayment.

i have considered ISAs and such but there isn’t much return on them at the moment – i know that there isn’t much return anywhere at the moment but i would be able to get access to it in an ISA!

any advice would be greatly appriciated.

many thanks

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