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Endowment nearing maturity with Ombudsman claim ongoing: Advise pls

iconic944ss
iconic944ss Posts: 23 Forumite
in Mortgages & endowments
Endowment is due to mature in two months time but I've asked the Financial Ombudsman to investigate it being mis-sold to me originally, which I hope is on-going (even though I've not had a reply to the reams of paperwork I sent in!)

Anyway, my question is - if I accept the maturity value in two months does that let the endowment company 'off the hook' or do I waive my right to any compensation in future by taking any money now???

Thanks in advance - Frank

Comments

  • dunstonh
    dunstonh Posts: 120,009 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    3/4 of endowments are already timebarred. So, its possible your complaint will be rejected on that basis regardless. Also, you cannot go straight to the FOS and complain. You have to make the complaint to the seller first. The FOS will just forward your complaint on to the life company who will then forward it on to the seller, if it wasnt their own salesforce.

    Maturity will have no impact on yoru complaint.
    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.
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