Endowment Company Questionaire

JohnFB

I recently sent a letter of complaint to Woolwich (now Barclays) and filled in a long questionaire concerning an Endowment sold to me in Jul 1988.
Since being with Woolwich initially I moved to Allaince + Leicester in 1994 and then to Yorkshire Building Soc in approx 2000.

Today I had a phone call from Barclays asking details of when I moved to YBS.
And also if I have made any Overpayments.
I said I would phone him back as I don't have the details at hand.

But I don't really see why they need to know when I moved my mortgage to YBS from A+L.
(I moved to YBS as it is a Flexible Mortgage, allowing me to make overpayments).
As a result I have made Overpayments to YBS but surely this should not affect the decision of whether the Endowment was mis-sold or not 18 years ago.

Can anyone explain this ?

Thanks for your help.

dunstonh

But I don't really see why they need to know when I moved my mortgage to YBS from A+L.

It can affect the calculation of any redress payable.

As a result I have made Overpayments to YBS but surely this should not affect the decision of whether the Endowment was mis-sold or not 18 years ago.

Yes it does because redress is calculated and compared against a repayment mortgage. They need to make sure your actions are included in both scenarios of what you have done and who that would have affected you on a repayment mortgage.