CCan I claim for cashed in savings endowment?

choceclair40

I have just had a telephone call saying I can claim back a mis-sold endowment that was used for saving only not linked to a mortgage or anything.

I explained that it was about 15 years ago and the person said if I still have all the paperwork I could get compensation. The payout was rather less than I paid into it.

Any advice?

maxdp

Hi There do not go for a claims company if you are due this money then you can claim yourself with the templates on the mis sold endowment website. If you go with this people you will either pay a upfront fee or 25% of your claim. Do it yourself.

choceclair40

Thank you

Just wondered if I can still claim after all this time?

maxdp

You can claim for 6 years after the account was current. So if it is still running then I believe you can still claim. Let us know how you get on and have a look on the relevant thread about mortgage endowment reclaiming where you will get more specific advice. Let us know how you get on.

di3004

Hi there

Maybe Dunstonh could help on this one for you as well with some useful information/advice, good luck with this.;)

dunstonh

I have just had a telephone call saying I can claim back a mis-sold endowment that was used for saving only not linked to a mortgage or anything.

On what grounds?

There was no widespread mis-selling of these and most were done by tied agents where it was their only regular saving contract.

I explained that it was about 15 years ago and the person said if I still have all the paperwork I could get compensation.

Definitely means you were not mis-sold then. ISAs were not available back then and savings endowments were the product used by the insurance agents. You cannot compare a savings endowment with a mortgage endowment. Same tax rules but structured differently.

The claims company is pulling your chain on this one I'm afraid.