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Am I Too Late???
17lbp
Posts: 192 Forumite
Hi All
We were sold an endowment to cover our mortgage in 1992. As like most people we received the "red letter" saying it would not cover our mortgage and we converted our mortgage to repayment. We are still paying into the endowment to be used for our round the world trip (or X5 if my husband gets his way!!!)
My question is am i too late to claim compensation, I ask as I looked at the which site recommended by Martin and I can't remember when we received our first red letter, i do think it was probably more than 3 years ago? To be perfectly honest I'm not sure if we are entitled to any compensation, as a previous poster said it was a long time ago, was our first house and were all loved up!! I do destinctly remember the "salesman" telling us about paying off mortgage and receiving lump sum but i can't remember if we were warned that there was a possibility it could shortfall. I know we are probably a bit late in the day for this but I thought as our endowment was sold when endowment mortgages were the "in thing", then we were probably correctly advised as the time was then, but reading through various post I'm not so sure now.
Any help would be much appreciated.
We were sold an endowment to cover our mortgage in 1992. As like most people we received the "red letter" saying it would not cover our mortgage and we converted our mortgage to repayment. We are still paying into the endowment to be used for our round the world trip (or X5 if my husband gets his way!!!)
My question is am i too late to claim compensation, I ask as I looked at the which site recommended by Martin and I can't remember when we received our first red letter, i do think it was probably more than 3 years ago? To be perfectly honest I'm not sure if we are entitled to any compensation, as a previous poster said it was a long time ago, was our first house and were all loved up!! I do destinctly remember the "salesman" telling us about paying off mortgage and receiving lump sum but i can't remember if we were warned that there was a possibility it could shortfall. I know we are probably a bit late in the day for this but I thought as our endowment was sold when endowment mortgages were the "in thing", then we were probably correctly advised as the time was then, but reading through various post I'm not so sure now.
Any help would be much appreciated.
Massive thanks to all who contribute on the MSE forums, especially on grabbit and competition boards
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