Our house is mortgaged to the First National Building Society; my wife and I are the Mortgagers.

The Contract is structured such that Interest only on the Mortgage Loan is paid to First National throughout the loan period and the Loan Principal is repaid as a lump sum at the end of the loan period.

This lump sum to repay the Mortgage Loan, together with a possible Surplus, is to be achieved by investment in an Endowment Policy with Irish Life, this being effected by a Life Assurance Contract between my wife and I and the Irish Life Assurance Company.

In respect of this Life Assurance Contract, the Irish Life Assurance Company is the Principal and the First National Building Society is their Tied Agent.

My Wife and I are consumers / customers.