Missold endowment

fibreg

Hi all,

I believe i was missold an endowment i set up in 1997 and have recently complained and been sent the forms to fill out.

One of the questions is: "Are you still using your policy as a repayment vehicle for your mortgage" Now i sold my property in about 2000 and paid off the mortgage and purchased another property 2006 but did not use this endowment in connection with the mortgage but always planned on using the endowment money to pay off my existing mortgage when it matures.

I think possibly i should answer 'no' to the above question but i am not sure if that will effect my chances of compensation. I have always counted on this endowment to stand me in a good position for paying off my current mortgage early, but given that the endowment will not come anywhere near the target value, this will not be the case.

The main question is, does anybody know if my chances of compensation will be effected by the fact that i am not currently using this endowment in connection with a current mortgage.

Thanks in advance.

Fibreg

dunstonh

I believe i was missold an endowment i set up in 1997 and have recently complained and been sent the forms to fill out.

Seems a bit of a waste of time complaining in your case. You took it out and sold it in 2000. Therefore, if the complaint is upheld you are only looking at a three year window and its possible that the endowment was better off in that three year window than repayment.

I think possibly i should answer 'no' to the above question but i am not sure if that will effect my chances of compensation.

Its quite simple. You either tell the truth or you commit fraud (and they can ask for proof from you if they think you are telling lies).

The main question is, does anybody know if my chances of compensation will be effected by the fact that i am not currently using this endowment in connection with a current mortgage.

Yes.