Endowment Mis-selling Cashed-In

Garfield007

When we got our letter telling us about our projected shortfall, we switched to a repayment mortgage, cashed in the endownment and paid it into our new repayment mortgage. can I still make a claim? and when is the deadline?

Thanks

vinno65

Hi Garfield,
you need to post a bit more info to see if you are still in time to complain. Need to know when you got your first letter showing the possibility of a shortfall. You would have 3 years from the receipt of this letter in which you could refer your case to FOS if unhappy with the firms' investigation. This 3 year rule does not necessarily bar you from taking the firm to court if you wish.
Finally the fact that you have converted to a repayment will affect any redress (if any)you are entitled to. The calculations will be based on the date you switched to repayment. So your prudence may well mean you are entitled to less, They get you every which way!!!
Anyhow post more details about when you recieved your first "red letter" and why you think you have grounds for complaint, and people will be able to help you further
regards Vinno

Garfield007

Hi,
Thanks for that!
Unfortunately my first red letter was received about five years ago, and as we had already reduced our mortgage by about 20% we weren’t too bothered until we got another stating 30% - 40% shortfalls.
Never mind some days you get the bear and the next day he turns around and bites you back on the !!!!!!.

Thanks

defender_of_the_weak

Where did you buy the policy and who is it with

dreamylittledream

Vinno - timebars are up to the discretion of the individual company who is being complained about - they do not always apply.

Defender of the weeks question is key here...

mintymoneysaver

Surely there's no harm in at least trying to complain using the 'which' letter...

vinno65

dreamylittledream wrote:

Vinno - timebars are up to the discretion of the individual company who is being complained about - they do not always apply.

Defender of the weeks question is key here...

Hi Dreamylittledream,

When in front of the House of Commons Treasury Committee in 2004 13 out of the 17 major life companies said they would not be applying a time bar. Can you tell me how many are now using their discretion and waiving it?
regards Vinno