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Endowment after retirement
Pobby
Posts: 5,438 Forumite
Just a thought.If an endowment was sold to a couple and it extended beyond retirement would it be deemed mis sold if only one of the holders had reached retirement age and the other was still working?
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Comments
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An endowment that goes past retirement is not an automatic mis-sale. Because you can borrow past retirement, it just requires a bit more disclosure and documentation.
The issue is based on affordability past intended retirement age. If no evidence exists that this was checked and documented, then its often classed as a mis-sale. If it was checked and correctly documented, then there is no mis-sale.
So, in connection with your question, was it deemed to be affordable past one retirement age (ie. is the main earner still working or not)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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