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Endowment investment shortfall
debs66_2
Posts: 304 Forumite
Hi, this is my first post. Hope someone can offer advice.
I bought into an endowment investment around 8-10 years ago (am at work so have to check!) and have just realised that my monthly DD payment has increased. after numerous calls to Royal London it appears the endowment is only now underperforming so they have increased my premium. It has only gone up £3, but that is a 10% rise on the original monthy payment.
I have two questions. I knew i wasn't to know how much extra in bonuses it could possibly make, but i didn't expect a shortfall. Could I have been miss-sold, and does it matter that it was never mortgage linked?
Secondly, Royal London have been screwing up my address details since i moved house in August 2003, so in January of this year sent my letter re underperformance to my old address and i didn't know about it until now. They therefore put up my premium (1 March 2006) without my acceptance of it. They were quite sheepish on the phone about it and I have written correspondence from them acknowledging their mistake in not updating my address details despite my numerous calls.
Does any of this sound like I could make a complaint that might be worth my while - if only for the hassle i've had from them!
Thanks in advance
Debs
I bought into an endowment investment around 8-10 years ago (am at work so have to check!) and have just realised that my monthly DD payment has increased. after numerous calls to Royal London it appears the endowment is only now underperforming so they have increased my premium. It has only gone up £3, but that is a 10% rise on the original monthy payment.
I have two questions. I knew i wasn't to know how much extra in bonuses it could possibly make, but i didn't expect a shortfall. Could I have been miss-sold, and does it matter that it was never mortgage linked?
Secondly, Royal London have been screwing up my address details since i moved house in August 2003, so in January of this year sent my letter re underperformance to my old address and i didn't know about it until now. They therefore put up my premium (1 March 2006) without my acceptance of it. They were quite sheepish on the phone about it and I have written correspondence from them acknowledging their mistake in not updating my address details despite my numerous calls.
Does any of this sound like I could make a complaint that might be worth my while - if only for the hassle i've had from them!
Thanks in advance
Debs
Blonde jokes are one-liners so men can remember them...;)
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