Report Endowment Misselling Compensation SUCCESSES

MSE_Martin · 12 July 2006 at 8:22PM

This thread is especially to report your successes taking on the banks/insurers to get compensation for missold endowments.

The aim is to show others that it is possible and it works.

Please report your successes here, if possible in the format

Bank/Provider:
Compensation:
The story: (just a few sentences)

Read the article
Act now on missold endowment (includes when and how to claim at no cost to you and without giving a claims handler a cut!)

Please don't use this thread for general discussion on endowment misselling compensation - go through the article's discussion links for that.

AndrewSmith · 12 July 2006 at 8:37PM

Bank / Provider: Abbey National
Compensation : £4500
The Story:

This is the endowment belonging to my other half Kim. She and her ex-husband took the policy out for their first mortgage, then took a second endowment to 'top-up' on a subsequent move.

Took approx 8 weeks from start to finish, and the policy(s) are still in force with 7 years till maturity.

She used the info from this site to find out how to approach the Abbey without engaging the services of 'specialist' companies.

She has said she is happy to offer blank copies of the letters to anyone who wants them.

:beer:

YorkshireBoy · 12 July 2006 at 11:20PM

Bank/Provider: Yorkshire BS (Clerical Medical Policy)
Compensation: £2,800

Bank/Provider: Yorkshire BS (Norwich Union Policy)
Compensation: £200

The story:

Just rang up YBS and said I was unhappy about the projected shortfalls on 2 of my 4 endowment policies. They sent me 4 forms out and suggested I 'claim' on all 4 policies!

Forms very easy to complete, with only basic information requested...

Salary at the time
No of dependants at the time
Attitude to risk
Savings/pension provisions

Despite having a healthy 20% surplus on the other 2 policies, they still treated them as 4 individual claims and didn't attempt to aggregate them.

My £3,000 cheque was received within 4 weeks of the initial phone call.

Hitman_2 · 14 July 2006 at 8:32AM

Hi all, I havent been on here for a while but just wanted to report my successful claims and to say thanks to all the community on here for their help and support. I had 3 claims 1 of which was rejected (it was started in 1984) but 2 have been compensated. Both of the compensated policies were sold by Abbey 1 of which was their own Ab Nat Life and the other was Standard life. The compensation seems to have been calculated by comparing the difference between the value of my endowment and what my balance would be had I paid by repayment if that makes sense? Anyway it amounted to £2,200 and £1500.00 so I am pleased that the balance has been redressed thanks again

Tina_D · 15 July 2006 at 5:59PM

Provider: Abbey National Life
Compensation:£4100.00

I cant believe it, I would never have thought I would be entitled to anything. It was because Martin started most emails with his 'nagging' about being missold endowments that I thought well what have I got to lose. We took out the endowment in Sept 1994, changed mortgage provider in July 1998 and sold endowment in Sept 1998. I used the Which complaint letter and 1 week later received a form from Abbey. After spending the morning filling it in (very painful) I sent it off. That was 2 weeks ago. This morning I received an offer of £4100.00. Thankyou so much Martin, it genuinely is a case of 'if it wasnt for you......'

Fix_Rate · 17 July 2006 at 10:02PM

Bank / Provider - Norwich Union

Compensation - 5k

The story - A letter came through highlighting in red the policy would underperform. Have i taken action it said. Heres how to complain it said. That together with always reading on this website you should always complian was enough for me!
I phoned up as instructed they took down details sent through forms. I filled them in as best as i could and with relatively no hassle i have an offer of just over 5k in about 6 weeks.
This basically amounts to the money i have paid into the thing for the past 16years. Happy.

Kantankrus_Mare · 17 July 2006 at 11:48PM

Provider...... Nationwide Compensation £2500

Provider......Standard Life Compensation £2500

Story......When I first discovered this site over a year ago I read up on everything I could get my hands on to do with Endowments and Mis-selling.

I finally took the plunge and wrote to both companies explaining how I felt that we felt we had been mislead when an endowment mortgage was recommended to us when we were young and clueless.

After filling in some forms the companies sent us and patiently waiting for what at the time seemed an eternity we received our compensation!!

I wouldn't have had the knowledge to do all this without this site and for that I will be eternally grateful so a big thanks to Martin and the many knowledgable helpful people on here.

Thank you all so much!!:T

supersub_3 · 18 July 2006 at 11:16AM

Lender: Abbey National
Compensation: £2,200 (two policies)

Our policies were from 1983 and 1987. I complained about the first and it was rejected by Abbey. Then the Abbey was heavily fined for its treatment of complaints, so I appealed - and slapped in a complaint about the second policy. They accepted both and offered a total of £2,200. Not a fortune, but £2,200 more than I would have had if I hadn't complained.

I keep urging colleagues to complain but they say they can't be bothered. The way I look at it is this: if someone asked me to do a job that would pay me £2,200 for (at a guess) two hours work, I'd jump at it, wouldn't I? So what's the difference?

Ahmed · 19 July 2006 at 8:29PM

Took out the policy in 1993. Followed Martins advice and sent the letter from the CA site and have been offered £5,000 top up, caash or value if policy and shortfall, not vsure which one to go for

charliesnanna · 20 July 2006 at 3:23PM

I took out policy with Scottish Amicable in 1991, upped the premiums in 2002 when told it wouldn't pay the mortgage in 2010, complained a few weeks ago after prompts from this site, and have been offered £3,707 in compensation.
I was offered a "Deal or No Deal" situation where they said if I wasn't happy with this I could have it recalculated but the amount could go up or down! I dealt! (the policy had been taken over by Prudential)

mintymoneysaver · 21 July 2006 at 10:25AM

Friends provident through Yorkshire building society (1989)
£2100
simple form to fill in, compensation came within a couple of weeks.

LEGAL AND GENERAL THROUGH A BROKER (1993)
£ 1431
A bit more complicated.Sold by a broker, but following advice on here just wrote to Legal who sent us a more complicated form to fill out.They rejected our complaint so took it to the ombudsman.Just had letter to say Legal have now agreed to our complaint and are waiting to find out how much compensation we will get.Taken about 3 months from start to this stage.
edit to say now received offer of £1431 from Legal.

Thankyou Martin, and which letter!

Both of these policies were actually cashed in in April last year, so don't let that put you off applying.

Report Endowment Misselling Compensation SUCCESSES

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