Anyone won an pre1988 endowment complaint

dbs

Has anyone won an endowment miss- selling complaint taken out before April 1988 when the 1986 financial services act was enforced if so what part of the complaint was upheld?

Currently complaining against Britannia Building Society who sold me the low cost endowment on the basis if I had been informed they was receiving commission (which they have not admitted only that their sales person received no commission)I would not have taken out such a policy and I was not informed that the policy was front end charging or given a breakdown of the costs involved which they also deny.

spyslikeus

successfully claimed for misselling against Winterthur from 1984 (they were provident life at the time) and Friends Provident from 1987 with no problems or arguments about pre-1988.

Good luck!

dunstonh

Most tied providers will review pre 88 complaints. Independents, Solicitors and accountants will not.

Currently complaining against Britannia Building Society who sold me the low cost endowment on the basis if I had been informed they was receiving commission (which they have not admitted only that their sales person received no commission)I would not have taken out such a policy

Thats not grounds for complaint.

foreversummer

Yes, I won two mis-selling complaints again Portman Building Society taken out in 1984 and 1985.

Although they were not FSA regulated as now, they did have a "duty of care" to explain the nature of Endowments to me and they did not. They refused at first, but I won when I took them to the Ombudsman.

Not sure though that you will have a claim though under the circumstances you describe.

Foreversummer

maryotuam

I got back over £2000 even though our endowment was bought 4 months before the 1988 regulations started. I needed to do some detective work first though. The mortgage company told us who sold the endowment (which turned out to be Sykes Waterhouse the Estate agent). I discovered they had been bought out several years back by Bradford and Bingley after following a trail on the internet. I then contacted B& B, filled in the relevant form and they paid up without a quibble.