FOS rewards the mis-selling wrong-doers etc.

dreamylittledream

Garry_Anderson wrote:

Just looking at my old posts and found Dunston still hasn't answered me yet.

Like I said, you have no idea what position financially people would be in 25 years time e.g. I was forced to retire on health grounds - as can be seen on my home page: https://www.skilful.com.

I asked you, what sort of advisor would say it is good financial advice to bet your house on the markets - not knowing what the future holds?

So Dunston - would they be incompetent, corrupt - or do you have another label for them?

Oh God here we go again...

Garry_Anderson

Garry wrote, ".. repayment mortgage is TOTALLY DIFFERENT from endowment mortgage - one goes towards REPAYING LOAN - the other goes towards gambling on markets in the HOPE OF REPAYING LOAN".

Ed replied, "In the hope of repaying loan - and generating substantial cash surplus on top - is what you mean, I think "

I did note the little wink at the end Ed

To explain to newbies - I have won official complaint against FSA for their lack of integrity - actually proving it - therefore know of what I write.

As I have repeatedly wrote, conmen use enducements to defraud the public.

This enducement is different to the purpose of your mortgage - though we know some devious people have been conflating this enducement with purpose.

People get a mortgage to repay the massive loan for their home - that is their purpose.

Conmen have used the enducement of a "substantial cash surplus" to make you choose endowments over repayment.

Indeed - the directors of our building society (Woolwich) actually conned us into changing from Repayment to Endowment - which is why I feel a bigger mug now.

I admit to being fooled - they got us real good - it was worse for us - they got us twice:

We were conned after paying into Repayment mortgage for five and half years - it is another scam called churning.

The damages for that run into many thousands - much more than the surplus they said we would get at end of term.

It is a con for everybody buying homes because endowment mortgage is unfit for purpose of repayment of large loans - as has been proven (and finance firms knew).

Garry_Anderson

Dunston wrote, "You keep changing the subject. One minute you talk about investment backed mortgages and then you change to endowment mortgages and back again. I have said a number of times now that there is nothing wrong with the principle of investment backed mortgages when done correctly and with the right product."

It has always been about Endowment mortgages - check back - it is others that try to change topic.

I always try keep to the subject of thread.

So - who is this totally ficticuous person that an endowment mortgage was good financial advice for?

When exactly is endowment mortgage GOOD FINANCIAL ADVICE - please tell us?

Garry_Anderson

Dreamer - we know you have nothing intelligent to contribute

Tootsie_Roll

dreamylittledream wrote:

Oh God here we go again...

Exactly !

Don't feed the troll !!

Garry_Anderson

Toots - not that I hold up much hope for you (having read some of your posts) - but how exactly is any of my posts trolling?

Please tell us - can you say anything that is intentionally or unintentionally incorrect?

No - I thought not.

Therefore - anybody can see you use your pathetic claim to avoid answering some very straight-forward questions.

Garry_Anderson

Just looking at my old posts and found Dunston still hasn't answered me yet.

When exactly is endowment mortgage GOOD FINANCIAL ADVICE - please tell us?

jamesd

Garry, kindly stop harassing Dunstonh. You and he hold different views. That's clear already.

Garry_Anderson

James - I am not harassing anybody - simply trying to get an answer.

It is a simple question which everybody has been avoiding like the plague.

This includes the Financial Services Authority.

I won my official complaint against them for "lack of integrity" because of avoidance to this and just a few other simple questions that demonstrate the fraud.

"When exactly is endowment mortgage GOOD FINANCIAL ADVICE?"

Perhaps you can answer.

EdInvestor

"When exactly is endowment mortgage GOOD FINANCIAL ADVICE?"

Before 1983, when endowments attracted tax relief, they were probably OK.AFAIK all endowments from that period with LAPR have paid off the mortgage, but if anyone knows different,please post.