Help Ombudsman rejected endowment claim

gary_ferguson

I claimed for unfair endowment selling from Legal & General. Issue was referred to Financial Ombudsman who rejected my claim and advised next step for me was to go to court if not happy with Ombudsman decision. Is this really the only way forward. Do not want to spend more money chasing L&G in court. Any advise please?

EdInvestor

gary_ferguson wrote: »

Is this really the only way forward. Do not want to spend more money chasing L&G in court.

Afraid so.

pmcg01

gary_ferguson wrote: »

I claimed for unfair endowment selling from Legal & General. Issue was referred to Financial Ombudsman who rejected my claim and advised next step for me was to go to court if not happy with Ombudsman decision. Is this really the only way forward. Do not want to spend more money chasing L&G in court. Any advise please?

Depends on what stage, if it is the initial rejection, you can ask for a re-review from a more senior staff member, as it is not actually an Ombudsman who makes the final decision, so go down that route.

If they say no, then it is pretty much your only route, but a high risk one - why was it turned down by L&G and why did FOS agree?

dunstonh

You probably wont win in court either. The FOS generally are slightly consumer biased on the basis that they disregard certain documents (key features,illustrations and cancellation rights for example) that a court would not disregard. So, if the FOS dont rule in your favour, then a court is less likely to.

Remember that by going to court you are making an accusation of fraud against the seller. You will be asked to provide evidence to support your claims. If you have evidence then thats good but then the FOS would have considered that evidence as well. If you have no evidence and the seller can provide all the documentation showing everything was done correctly then you dont have a hope.