Endowment mortgage

tiggerthetiger

Hi, I had an endowment mortgage years ago when I was married and I remember having a letter stating it would probably not cover the mortgage on the house we had, so we cashed it in and I went one way and my then husband kept the house and had another mortgage. I remember signing a form and we shared the money. It was obvious we were missold this because I remember when we went to the woolwich to sort the manager told us it would definately cover the mortgage. Do you think we can claim from these people, we both could do with the money!! sorry to be long winded!! seems like they have taken my money!!!

Scaredy_Cat_3

How long ago did you take out the endowment policy? There is a cut off date of (I think) April 1988, and financial advice given before this date is not covered by the Financial Services Act, meaning you probably won't get anywhere with a claim.

If it was after this date then you may have more luck, but I think you need to have some paperwork to show that a product was recommended and what you were told. You will need to go through the full complaints procedure with the Woolwich and can only move onto the ombudsman once that process has been exhausted.

tiggerthetiger

Thanks for that, I think it was 1989 if my memory serves me right, so that means I might be able to if I act quickly. I dont even know if the woolwich still exists??? I will have to look it up.

Thanks again

Oooooo did you mean I would have to have the paperwork? or could I request this if the woolwich still exists?? I have no paperwork. I am now divorced and have nothing like that.