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Endowment offer reduced - does this sound correct?
bluenose1
Posts: 2,749 Forumite
Hi,
I purchased a Standard Life endowment policy in 1989 through Bradford and Bingley.
I recently complained and was offered £2274 from 1989 up to 1996 as this was the date I advised them that I changed to a repayment mortgage.
However when I checked my records again I did not change to a repayment mortgage until 2001 and I asked them to recalculate.
They have now offered me £2202.
I thought they would have offered more not less!!!!!!!!
I have gone through their paperwork to identify any discrepancies and I don't think they have added back the monthly endowment premiums which they have done in the first offer.
Does anyone know if this sounds right and is it quite feasible that I am due less?
Thanks in advance.
Regards
Anne
I purchased a Standard Life endowment policy in 1989 through Bradford and Bingley.
I recently complained and was offered £2274 from 1989 up to 1996 as this was the date I advised them that I changed to a repayment mortgage.
However when I checked my records again I did not change to a repayment mortgage until 2001 and I asked them to recalculate.
They have now offered me £2202.
I thought they would have offered more not less!!!!!!!!
I have gone through their paperwork to identify any discrepancies and I don't think they have added back the monthly endowment premiums which they have done in the first offer.
Does anyone know if this sounds right and is it quite feasible that I am due less?
Thanks in advance.
Regards
Anne
Money SPENDING Expert
0
Comments
-
Any thoughts anyone?????
Regards
AnneMoney SPENDING Expert0 -
Their response seems acceptable. Std Life performance between 1996 and 2001 would have been on par with a repayment mortgage and you would not have been worse off.
So, seems fine to me.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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