Mortgage Endowment Questionnaire - windfall benefits

sondheimsoc

I have written to our broker using the Which complaints letter. He has responded by asking us to fill out an Endowment Mortgage - not the one produced by the FOS. It asks lots of fairly unanswerable questions such as what our earnings and outgoings were in 1988.
But the question I'm not sure how to answer concerns windfall benefits. We have a policy with Friends Provident and received some shares from them in 2001 which we then sold back to them. The sum involved was £652.25. The questions asks: Have you still got all of the windfall benefits received? If No, how much has been spent and what was it spent on.
I'm confused as to how they expect us to differentiate between that sum of money and other savings we have. Does anyone know if it's better to say yes or no to this question?
Thanks
Lynne

EdInvestor

Don't answer the question.They are just fishing for information, undoubtedly they destroyed your file years ago and can't prove their case.

You don't have to fill in the form at all if you don't want to.

vinno65

Hi Lynnechapman,
Further to EdInvestors comments I would not answer the question either, however widfall benefits are not taken into account when redress is calculated for a miss-sale.
Also answer the questions about you earnings and outgoings in 1988 a long the lines of "sorry I cant remember but as this information is very important I am sure it is the first thing your advisor would have ascertained and as such YOU should have a copy of it on file". That sort of puts the ball in their court heh? As Edinvestor says they have undoubtably destroyed your file. If they have it's good news for you as it is up to the firm to prove that the sale was compliant, not for you to prove that it wasn't. If they have no records showing that the sale was compliant then they are on dodgy ground.
Don't be too fazed by the quetions these are fairly bog standard forms but just be wary of questions that might attempt to trip you up.
Regards Vinno

sondheimsoc

Thank you both for your help.
Lynne

tryingtomove_2

i am also filling a form for mis-selling, i have found a projection of the figures for the endowment paying off and also having a surplus. I also have found a letter from the building soc. saying these projection figures may be of interest to you, and i feel sure that you will benefit from this in the long run.
i was on a repayment asked for an advance to pay for some repairs then recived this letter to change to a endowment and i did
shall i send back copys of these with my form now or wait for the next step