Another Endowment Mis-selling Success thanks to MSE!

Mean_Scot

Hi Everyone,

Just wanted to let you know that as a direct result of reading the information on here about mis-sold endowments, I sent a letter to Standard Life and this morning received a compensation offer of £2,398.50

To say I am pleased is an understatement. All I did was sent a standard letter by following the advice from http://www.which.net/endowmentaction/index.html and then had to fill in a questionnaire from Standard Life about my mortgage details. It involved digging out my mortgage details but it was all information I had filed away anyway.

To anyone who thinks they were mis-sold but reckons a) it's not worth bothering with or b) I 'll get one of the no-win no-fee companies to put the claim in for me I would say - you really can do it all yourself by spending an hour of your time reading info on here and sending off a letter.

Some people I told when I decided to do this reckoned I was wasting my time.

Many thanks MSE - if it hadn't been for your persistent reminders to do something about endowment mis-selling I wouldn't have bothered. (and if it hadn't been for the info about the percentage no-win no-fee companies take if you win - I would have ended up paying someone else my money!)

Jeannine

Hi all,
I am also delighted to report that as a direct result of using this site, I did exactly the same as Mean_Scot, contacting Standard Life and then filling in a very straightforward form. I wasn't going to bother as the endowment policy was for (relatively) quite a small amount but I was really pleased to receive an offer of compensation of over £600.

I have to say that I was very impressed with the quick and efficient response from Standard Life; including the very pleasant lady who telephoned me to check a couple of details.

Definitely worth an hour's effort! :j :j :j

Mean_Scot

Hi again,

Just wanted to agree with Jeannine - I found Standard Life dealt with my complaint quickly and efficiently and couldn't fault how they handled the claim.

smiley_2

My endowment was with standard life but sold by my solicitor - should i contact the solicitor or standard life direct?

dunstonh

smiley wrote:

My endowment was with standard life but sold by my solicitor - should i contact the solicitor or standard life direct?

Standard Life have no liability. They just received an application in the post. You contact the solicitor and then sit back for a couple of years.

smiley_2

Thanx for that! Will contact solicitor and see what happens! :j

camelopardis

Another success story for me aswell! I submitted a complaint letter to Abbey pertaining to a £50,000 mortgage from 1995. It took me under an hour, using the letter template on the Which endowment action site.

I received £3,750 compensation - needless to say, I was delighted. Along with everyone else who has done this, I CANNOT STRESS ENOUGH how easy this was and that people who feel they have been mis-sold MUST ACT NOW!
And DON'T use a third party claim company!

jayp70

Ok, having read numerous posts regarding endowment mis-selling I thought I'd send in my complaint to Halifax Financial Services.

According to my review last year, there is a short fall of around £2500 on a £30,000 endowment. This isn’t the reason for the mis-selling. Basically, when I took out the endowment in 1995 I was assured that not only would I pay off my mortgage but I would have in excess £17,000 surplus to do what I want. That really stuck into my head at the time, and hence that’s the reason for me to take out the endowment. Unfortunately, I don’t think I have any written evidence of this, but at the time as I was only 24 I was easily convinced!

Anyway, I’ll keep you posted regarding my complaint. Not sure if anything will come of it, but you never know.

jayp70

OK, its been 2 weeks since I've wriiten to Halifax Life regarding my endowment miselling. How long should I wait until I hear a response from them?

caleb2003

My endowment was missold to me by a financial consultant so if its them who did it do I claim off them?

Most success stories seem to be coming from those missold by the BS direct

dunstonh

Most success stories seem to be coming from those missold by the BS direct

I would like to think that the quality of the documentation from IFAs is better than tied agents. In my experience and those IFAs i know it is. However, I would be kidding myself it I thought that to be the case every time

My endowment was missold to me by a financial consultant so if its them who did it do I claim off them?

Financial consultant sounds like a title of tied agent working for the insurance company. IFAs tend to use the title IFA (or partner, director etc if applicable). You write to the company that provided the advice.