Think my bf has an endownment policy

needahome_2

the situation is that my bf bought a house in 1995 for 38k on an endownment mortgage and sold the place 5 years later for 48k.

he says he banked 7k from the sale, i asked him what happened to the endowment part of the mortgage, of which he looked puzzled.

is it possible he still has the endownment policy ? if he has, how do i find out the details (he has no paperwork).

the reason i ask all this is that my bf is not particularly wise when its comes to money and ten years ago he had a lot of problems which meant money was the last thing on his mind. for example he i have just discovered that he has £7k in a pension which not only did he not know he had, but is actually able to cash in now.

freddysmith

You could ask the mortgage lender if they still have records of which provider the endowment was with.
Check any bank statements to see if he is still paying monthly or yearly towards the endowment.
Go through everything again, drawers, cupboards, the loft for any related paperwork.

needahome_2

freddysmith wrote: »

You could ask the mortgage lender if they still have records of which provider the endowment was with.
Check any bank statements to see if he is still paying monthly or yearly towards the endowment.
Go through everything again, drawers, cupboards, the loft for any related paperwork.

he's not paying anymore contributions

Ive checked with the bank and they have said no policy number, then no help!

they have said that although probably can find his details, they have said they are under no obligation to give them to him as he has lost his paperwork it is his problem!! they said they wont even let him know who the provider is so he could chase it up with them.

opinions4u

He should make a Data Protection Act request for them to disclose all their records.

£10 fee (suggest they should waive this for their refusal to provide info earlier).

Might take a few weeks, would be a pain for them, but would give you something to work through.

Voyager2002

needahome wrote: »

he's not paying anymore contributions

Ive checked with the bank and they have said no policy number, then no help!

they have said that although probably can find his details, they have said they are under no obligation to give them to him as he has lost his paperwork it is his problem!! they said they wont even let him know who the provider is so he could chase it up with them.

When you say "the bank", I take it you mean his old mortgage lender.

Anyway, if he were to put in a mis-selling claim they would be obliged to dig up their records to demonstrate that the policy was properly sold. So this could be a possible stick to use with them.

freddysmith

Not sure if Citizens Advice could help, but hopefully someone on here will be along shortly to help further.
The Bank really should of been more helpful, even if you have to pay a small fee for the information.

needahome_2

Voyager2002 wrote: »

When you say "the bank", I take it you mean his old mortgage lender.

Anyway, if he were to put in a mis-selling claim they would be obliged to dig up their records to demonstrate that the policy was properly sold. So this could be a possible stick to use with them.

The "bank" in question is the woolwich which is now part of barclays.

would he be able to pursue a misselling claim aswell ?