📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mis-sold endowment but no mortgage?

I took an endowment policy out in 1993 to pay for the mortgage and have a lump sum at the end (so I thought). I split from my partner and took over the policy. The house was sold and the mortgage was paid off. However I have kept paying into the policy as I thought that once it matured it would reimburse me for the money I had to pay to my partner and also leave me with a nice amount of money.

I have seen many posts where people have successfully claimed but they all seem to have mortgages in place. Do I have any grounds to claim even though the mortgage was paid off?

I have another mortgage but obviously I knew at this stage that it was underperforming so opted for a repayment mortgage.

The house was sold in 1998 so although I won't have a shortfall on the mortgage I was still mis-sold the policy as not only was I led to believe that it would give me a lump sum but was also advised that I stood a much better chance of having the mortgage approved if I took an endowment as opposed to repayment.

Any comments would be appreciated!!
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.4K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.