dont know who to turn to next

kymmy_2

Hi i have been awarded a money claim from the ombudsman, for a mis-sold endownment but the company changed partners in 1999, it was called mortgage advice bureau it is now called turner scott mgi ltd, i have spoke to my solicitor who said the new company isnt liable, so there is no point taking them to court,because mortgage advice bureau does no longer exist i cant get the money off them either,but they are not in default so the fscs wont even look at my case the amount is for around 4,500,ied 4 spoke to the fsa who said take to the fscs who said they cant help so do i just give up .I have waited four years for the ombudsmans decision,but cant see where to go next please can anyone help this has worn me down cheers kymmyx

newrecruit

Hi Kymmy,
Do you mean mortgage advice bureau which is a network of independent mortgage advisers?
If so they are still in operation, but they are not a company that employs mortgage advisers, it is a network of self employed mortgage advisers.
Do you have the name card of the mortgage adviser who sold the policy to you?
On what basis you think that you were mis-sold the policy? Is it simply because it under-performed or do you have documentary evidence to prove that you were mis-sold?
Or are you responding to the adverts going around about companies helping you to claim back on the endowment policies? If so you should take care, because there are cowboys around there, and you end up paying for services that bears no results.
Mortgage advisers are regulated and you can contact Financial Ombudsman about it. Even if the company you have dealt with you no longer exist, you can get compensation from Financial Services Compensation Scheme, so it is worth contacting the ombudsmen. But you need the name of he adviser who sold you the policy.
If you Google Mortgage Adviser Bureau, their website is still active, and it may also be worthwhile getting in touch with them to find out abour the adviser who sold you the policy.
Good Luck

kymmy_2

Hi thanks for reply,i think the guy that sold us the endownment now sells timeshares in spain this name is mike turner, im not sure but i think they were a go it alone company in 1995 they changed there name to turnerscott partnership, we bought our endownment in 1994, they then sold the business in 1999 to new partners this is why my solicitor says they are not liable.The ombudsman have looked at my case for over two years and ruled in ouf favour for been missold they have had all documentation and awarded us a money claim, will the fscs look at my case do you think as the company is no longer trading, i dont think it ever was in default cheers for been helpful look forward to your reply kymmy

newrecruit

Hi Kymmy
It is worthwhile for you to contact Financial Services Compensation Scheme on 020 7892 7300 and explain the situation your self.
It is great that you have the broker's name, and the fact that your solicitor has looked at it means you have all the supporting documents?
I see that turnerscott partnership is still in operation. You say that they just changed the name...there is a company called Turner Scott in Cumbria with registration no. 03734890.I do not know if this is the same company. Check it out with your solicitor's documents.
It may be worthwhile contacting Consumer Direct as well, they will give you further advice.
Have you also looked at the thread for being mis-sold endowment policy in this forum?

kymmy_2

thanks for your help,i have contacted fscs, they are going to look at mortgage sdvice bureau, to see if i have a case also they said they may default the company which would mean i could get some compo, fingers crossed thanks for taking time out to advise me your the only person that has been helpful cheers kymmy