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  • FIRST POST
    • Kevin Sargeant
    • By Kevin Sargeant 6th Oct 17, 5:15 PM
    • 2Posts
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    Kevin Sargeant
    Endowment mis sold compensation
    • #1
    • 6th Oct 17, 5:15 PM
    Endowment mis sold compensation 6th Oct 17 at 5:15 PM
    Can anybody tell me if it is now to late to claim compensation for mis sold policies. I read that I should have been contacted by the Lenders involved, But I have moved since they matured and they would not have had my new address.
Page 1
    • mrginge
    • By mrginge 6th Oct 17, 5:54 PM
    • 4,312 Posts
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    mrginge
    • #2
    • 6th Oct 17, 5:54 PM
    • #2
    • 6th Oct 17, 5:54 PM
    What do you think you have been mis sold?

    And why?
    • zx81
    • By zx81 6th Oct 17, 6:06 PM
    • 14,401 Posts
    • 15,197 Thanks
    zx81
    • #3
    • 6th Oct 17, 6:06 PM
    • #3
    • 6th Oct 17, 6:06 PM
    What do you think you have been mis sold?

    And why?
    Originally posted by mrginge
    Pah. Mere details...
    • Kevin Sargeant
    • By Kevin Sargeant 6th Oct 17, 6:22 PM
    • 2 Posts
    • 0 Thanks
    Kevin Sargeant
    • #4
    • 6th Oct 17, 6:22 PM
    • #4
    • 6th Oct 17, 6:22 PM
    It was mis sold because I was told at the time that I would be a rich man when they all matured, There was no mention of them not reaching their targets, However they all did fall well short.
    • dunstonh
    • By dunstonh 6th Oct 17, 6:38 PM
    • 89,930 Posts
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    dunstonh
    • #5
    • 6th Oct 17, 6:38 PM
    • #5
    • 6th Oct 17, 6:38 PM
    Can anybody tell me if it is now to late to claim compensation for mis sold policies.
    Most endowments are now barred from complaint. The endowment issue is mostly over now with only a few stragglers. It more or less ended 10 years ago.

    I read that I should have been contacted by the Lenders involved
    Wherever you read that is wrong.

    But I have moved since they matured and they would not have had my new address.
    So, there is potential for multiple time bars

    The first time bar is that you had to raise a complaint within 3 years of being reasonably aware of a shortfall being likely. This was typically the mid rate projection on the statements showing a shortfall. If you didnt complain within 3 years of that, they could bar you.

    The second time bar they could apply is if it matured over 3 years ago. You are certainly aware that is was in shortfall as you got less than target. So, you had 3 years from maturity.

    It was mis sold because I was told at the time that I would be a rich man when they all matured, There was no mention of them not reaching their targets, However they all did fall well short.
    As it happens, most people are richer because the conditions that caused endowments to fall short put more wealth in our pockets elsewhere.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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