Act now on mis-sold endowments: new article

dunstonh

Sesame get their data from Pru. So somewhere your data is incorrect.

You should take the complaint to the FOS who will decide if the time bar is valid or not.

debsandhovis

Hi
I'm new to the forum and have been reading with interest, but inevitably have my own dilemmas and questions....
I took out a Prudential (Scottish Amicable) endowment in 1993 via an IFA and recently put in a complaint. However, the firm investigating (Sesame) have told me I am out of time (even though I have a letter from Prudential saying my deadline is in May). They have suggested I complain to the ombudsman, so I requested all my original documentation I sent in in support of my application be returned (original letters/projections from IFA, brochures etc), but they say they have throw them out. Any ideas /help gratefully received.
Debs

debsandhovis

Hi, thanks for your reply. However, I have one of the red letters from Prudential which states in red that the deadline date is 12/05/2007. This letter was sent to me in October 2006.

Regards
Debs

skyrocket

Hi
We had a mis-sold endowment. We sold it a few years ago, can we still claim?

marin_2

is there anyway of knowing if my ex , with whom there is no communication, has already claimed for a mis-sold endowment policy purchased in both our names? who would tell me? should i just do it myself as if he has not already done so? is it so simple as just to say that i believed and was told it would pay off the whole mortgage?

gill168

Hi
We took out an endowment policy in 1997, but received a letter in or around 2002, stating that it was not in line to pay out the amount initially advised. Due to this we changed to a repayment mortgage and cashed in the endowment. I believe the info I initially received re the endowment policy was wrong (mis-sold) (it was my first mortgage and I was gullable). I was sold this policy by an IFA, does anyone know if am entitled to any compensation ????

Any help is appreciated

dunstonh

does anyone know if am entitled to any compensation ????

There is no compensation payable. It is financial redress to put you in the position you would have gone into had you chosen repayment mortgage.

We took out an endowment policy in 1997, but received a letter in or around 2002, stating that it was not in line to pay out

Even an endowment heading for a large surplus would have had shortfall warnings that early on. Its one of the limitations of the projection system.

I believe the info I initially received re the endowment policy was wrong (mis-sold) (it was my first mortgage and I was gullable). I was sold this policy by an IFA, does anyone know if am entitled to any compensation ????

You could complain but you could be timed out as you ceased the endowment so long ago (why didnt you complain earlier).

Also, you only had it running for 5 years. When comparing what you would have repaid on the repayment mortgage in the first 5 years against what you paid into an endowment mortgage, you may not find there is much difference.

You can complain but I wouldt get your hopes up.

mayb_2

debsandhovis in case you are still hesitating I think dunstonh is right and you should take your complaint to the Ombudsman because you could be time barred if you wait much longer and the deadline is May 2007. If the paperwork does not exist the company will have a hard job proving they did not missell it to you I would have thought. You should have been given a leaflet by Sesamee explaining how to take your complaint to the Ombudsman so go for it. Don't forget to send copies not originals and to send all paperwork recorded delivery because of the time bar thing.

lagermad

i was seemingly time barred by abbey life and did not receive a red letter to advise me of this.is anyone aware if i can still contest after time barr date?
i still have policy with abbey life,
many thanks.

Sotonsparky

Back in the mid 80's to late 90's I took out a number of policies as a way of regular saving. The advisor at the time used a rule of thumb to predict the amount at maturity - a ten year policy would yield double the guaranteed sum and a fifteen year policy would yield treble.

However, some of the policies have already matured and fallen well short of the advisors predictions and I am sure the rest will do the same or worse.

Can anyone please tell me if I have grounds for a claim even though the policies were not linked to a mortgage. All the policies are with Britannic which is now called Resolution.

Many thanks in advance,

Sotonsparky.