Endowment, Mis-sold?

4Chickens

I know time is running short on claiming for mis-sold endowments. But I beleive that I am a victim. We had our first mortgage 12 years ago and it was an endowment sold to us by Winterthur Life through the estate agent. the mortgage was for approx £24500. After 5 years we sold the house and went for a repayment mortgage on our new house. The endowment was seriously under performing when you compared it to the literature they provided.

These are my problems:

A year after taking out our repayment mortgage we cashed in the endowment, getting less money back than we paid in.

I did not keep any of the paperwork from Winterthur Life in respect of the endowement policy.

Can I make a claim?

dunstonh

You can make a claim but if the complaint is upheld, the redress calculation will be to the point that the endowment was no longer put towards the endowment. Seeing as repayment mortgages dont drop much in value in the first 5 years and that period was coupled with good stockmarket growth, it's quite probable that the endowment ended up the cheapest option and no redress would be due.

So, whilst it's possible to claim, I wouldn't hold out for much redress, if any.