i have a standard life endowment where can i ask for advice on miss selling?

the_poppy_girl

hi,
great site by the way.
the question i have for you is that i have a standard life endowment and need to know how i go about searching this mis-selling problem.?
thanks

EdInvestor

Try the Which? site to see if you have grounds to claim.

https://www.endowmentaction.co.uk

silvercar

If you don't know who sold the policy to you and you feel you have grounds for complain. Address your complaint to Standard Life, they will tell you who sold it to you and write to the seller asking them to respond within 10 days.

the_poppy_girl

hi,
thanks for the advice.
i had contacted the company that provided me with the mortgage, & they did return my call but i haven't spoke to them as yet , is it normal to go to these persons first before you go and file a claim?
also when we took out the mortgage there was a promise that it would pay off the mortgage with a large sum as well now it looks as if we are going to be £17,000 short with no large sum!:mad:
thanks for your advice on the matter.:T

fez_2

Was it a promise or an indication of potential returns based on past performance?

You need to be able to "demonstrate" that the advice was unsuitable, not that it didn't work the way you had wished.

M271

the_poppy_girl wrote:

hi,
great site by the way.
the question i have for you is that i have a standard life endowment and need to know how i go about searching this mis-selling problem.?
thanks

I was unsure about whether I had a case of mis-selling or not, but I now have 2 cheques totalling £9000 all within 6 weeks of sending the initial letters !
I had 3 endowments from 1986 sold by Abbey (Scottish Amicable now Prudential policy £16000), 1988 sold by Halifax (Standard Life Policy £18000) and 1991 direct from Standard Life (£36000). I'm still waiting for the 1986 policy response but they are investigating and have not initially dismissed the claim of mis-selling.

My claims went like this:-

1) Use the Which magazine letter and send it to the policy company direct, in your case Standard Life. One letter for each policy.
2) Standard Life will either send you a questionnaire directly to fill in or will contact the company who sold you the policy and they will contact you/send you a questionnaire.
3) Fill in the questionnaires truthfully and if you can't remember details don't guess just put down 'can't remember'. A large number of my answers were 'can't remember' or 'no record'
4) You may get a phone call to clarify some details such as mortgage history during the life time of the policy, again don't worry if you can't remember. In my cases this was a good sign as it means that they seemed to be working out how much better off you would have been with a re-payment against a Endowment mortgage, they wouldn't bother to do this if they didn't think you have a case.
5) In my cases the complaint was accepted and the value of the compensation was the monetary difference between my policy value now to how much would have been paid off the mortgage by a repayment.

In my cases it has been straight forward and quick but reading these forums some have not.

I would recommend complaining about mis-selling if thats what you believe (most people do). I delayed doing complaining as I wasn't sure if I had been mis-sold or not but it has been straight forward and well worth it. Let them prove that it wasn't mis-sold.