Endowment Mortgage before 1988

Gliddon

Hi
I have just been informed that because my policy was arranged in 1987 the Ombudsman cannot consider my complaint. Is there anything I can do? I have quite a shortfall.

Any help would be gratefully received.

Thank you

p1an0player

Gliddon wrote:

Hi
I have just been informed that because my policy was arranged in 1987 the Ombudsman cannot consider my complaint. Is there anything I can do? I have quite a shortfall.

Any help would be gratefully received.

Thank you

Can you provide more details; is this a mortgage-linked endowment? Who's the provider and which firm sold the policy?

The Financial Services Act 1986 came into force on 29 April 1988, and before this date, there were fewer rules about the sale of these policies.

However, some firms will consider complaints about policies sold before 29 April 1988. Have you already contacted the firm who sold the policy?

Gliddon

Ho plan0player,

Thanks for looking. It is mortgage linked and it is a Legal and General policy sold by Andrews Mortgage Services, who sent me the letter saying there is nothing i can doa dn also the Ombudsman have told me this as well. So I am just hoping someone has had more luck.

dunstonh

In this case it is correct. Regulation and consumer protection came in during 1988. Cases sold by IFAs, solicitors and accountants would in 1987 would result in you not having any avenue to pursue your complaint.

It's the end of the road I'm afraid.

virgin_moneysaver

same here - took out in 1987 - standard life refuse all liability, says to try & get redress from adviser who was situated in the estate agents office where we bought our first home, but the EA no longer exists - so we are up the creek etc. etc

we are now left with the demutualisation of S Life & are need to find out about our best options re keeping or selling the shares