does a pension mortgage=an endowment ?

steeple_2

hi
Natwest set me up with a pension mortgage 14ish years ago that was supposed to provide me with a pension at 55 and pay off my mortgage with the lump sum.
I was supposed to get yearly "check-ins" to review how things were going but these trailed off and when i checked up to see how things were going it was plain the scheme was never going to pay off my debt and i was forced to switch to a more expensive repayment mortgage (and was charged a big penalty fee for it :mad: )
I remember distinctly that it was implied that being self employed that the pension mortgage was the one that i could apply for with the best chance of acceptance.
Is this eligible for a claim, do you think?

best
-steve

defender_of_the_weak

Same principles apply, if it was mis-sold then you have the right to complain and seek redress for any financial loss. The right to complain about financial services advice covers all product, not just endowments.

steeple_2

defender_of_the_weak wrote:

Same principles apply, if it was mis-sold then you have the right to complain and seek redress for any financial loss. The right to complain about financial services advice covers all product, not just endowments.

thanks!
of course, i guess it's obvious, but i never thought of it like that!

dunstonh

Pension mortgage from a bank and encouragement that it would help the lending decision? That's not going to be easy for Natwest to turn down.