I have my doubts about how well informed or otherwise people were - or claim they were.
I was looking briefly to buy a house with a friend after graduating (we had a brief window of multiple MIRAS which made it very lucrative).
Every estate agent (in those days they also sold mortgages) was pushing endowment mortgages as risk-free, double-your-money, you'd be a fool not to.
All the sort of language which immediately makes a room smell.
It was my friend who beat me to it with their question. And that simple piece of "research" meant there was no way on Gods green earth either of us would touch an endowment mortage again.
We were both 22 and fresh out of Uni (which was hardly Compton). If we could spot it was a scamsters paradise, then I really have little sympathy for those who got greedy with tales of buying yachts with the excess when the mortgage is paid off.
(See also the bollocks about stocks and shares ....)