Endowment Complaint - worth it?

ManicMum

Hi there

I feel I have a valid complaint re. endowment and have never received any letter saying I am time-barred (Standard Life). The company who sold it is now out of busiiness so going thru the FSCS. However, the amount of info required is making me wonder if worth the hassle of digging out all the paperwork. I am just wondering if I would get anything back anyway. Are there any experts out there who could give me some advice?

Basically I signed up for endowment and after 5 years switched to repayment when it became obvious that endowments weren't all they were cracked up to be. So I had 5 years of not paying off any capital. I then continued with the endowment for another 5 years and then cashed it in last year. I worked it out that I got back pretty much waht I had paid in. No more, no less. This was just over £7k. Obviously I could have earned some interest on that over the years and better still, paid off some of my mortgage.

Do you think I would get anything back through the FSCS?

Much appreciated.

dunstonh

Do you think I would get anything back through the FSCS?

If you do it will be little or nothing.

If upheld, the redress will be calculated only for the period you held the endowment policy linked to the mortgage. In this case 5 years. If that 5 year period was before endowments started falling short (around 2000) then you would not be financially worse off and would not have any redress.