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Mis-sold endowment - been told nothing we can do!!
stringbean_3
Posts: 21 Forumite
In 1985 we were set on having a repayment mortgage but were talked into having an endowment. There is now a shortfall, and I have contacted the company who sold it, and the Ombudsman and been told we can do nothing about it because it was sold to us before the rules came into place! Is this correct - any other moneysavers had the same advice? Not sure what to do!
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Comments
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Correct. Regulation and protection came in during 1988 for most cases. Some a little later.
You have hit the end of road.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.0 -
Thanks anyway, dunstonh. Still gutted, but at least I tried and couldn't do anything about it!0
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