From: john boyle 
Newsgroups: uk.finance
Subject: Re: Reason for Endowment shortfalls
Date: Fri, 24 Oct 2003 16:35:33 +0100

In message , Ronald 
Raygun  writes
>Agreed.  Nevertheless is is conventional to refer to the impure
>ones by the same name:

Yes, I suggest 'Madeleine'
.
>
>From the definitions section of my conditions booklet:
>
>1.1.10 "Interest Only Arnold" means an arnold loan whereby all of the
>capital monies secured by the Arnold are intended to be repaid from the
>proceeds of a policy of assurance, pension policy or other investment
>by the end of the Arnold Term.
>
>This "intended to be" is a bit wishy-washy, but is tightenend up
>in the rest to make clear this IO-Arnold is of the impure variety.

Fair enough. Your Arnold-lender makes it quite clear.
>
>> Agreed, which is why 'pure' interest only lenders seek comfort that the
>> borrower can still afford to pay the interest from their post retirement
>> income.
>
>Just how common are the pure ones?
>

Not very. But I've got one. I call it 'Don' so I can distinguish it form 
the others.
-- 
john boyle