Report Endowment Misselling Compensation SUCCESSES

DAVEYROBBO

Endowment Provider: Guardian Royal Exchange (As was)
Settlement Amount: £4500

First applied in October 2003 after reading of similar cases and was convinced that I had a justifiable complaint - or a bad memory!!

Rejected claim with long babbling letter and gave me details of FSA appeals system. I took too long deliberating over whether to appeal or not and missed the six month appeal deadline.

I thought that this was the end of the road but, heypresto, On the 11th August 2006 (my sons birthday also - so a good day alround) they wrote to me explaining that they may have mis-sold after all (think the FSA had been on to them over procedures) and they offered me £4500 which i obviously gratefully accepted.

Kept the endowment going as a savings plan but currently reviewing the same and gathering info from you good people using these forums:T

froggy1

:beer: also success i only went for it after visiting this site got back £4500 which was the shortfall not for being missold but because it cost me more with the endowment than it would have done with a repayment mortgage either way it will pay off completely when i recieve the money,and it was through abbey nat own complaint dept so cost me nothing which was brilliant many thanks martin

LS_Liverpool

MSE_Martin wrote: »

This thread is especially to report your successes taking on the banks/insurers to get compensation for missold endowments.

The aim is to show others that it is possible and it works.

Please report your successes here, if possible in the format

Bank/Provider: Winterthur
Compensation:£2300
The story: Thanks so much Martin, made a claim in June as I thought I had been missold and received offer in August which I was happy to accept, if in doubt just use Martins letter guide and try, try, try.
Act now on missold endowment (includes when and how to claim at no cost to you and without giving a claims handler a

nadeem220

Bank Provider: Abbey Life
Compensation: £8,000

I'm so glad I have registered to receive e-mails from Martin Lewis about moneysaving. The instructions on the website were clearcut and easy to follow. The whole process from start to finish took approx 6 weeks. My husband thought it was going to be a waste of time. I wrote the letter and completed the forms that they sent us - which didn't take long and then we were awarded with the money.

I'm so glad I gave it a go ... now we are £8,000 better off. The funny thing is, we have changed our mortgage to a re-payment last month and were going to cash in the endowment policy anyway. So this compensation has come at a good time. Now we can move on.

Thanks to Martin.

mayb_2

That's great news nadeem and LS Liverpool - just shows it is always worth a go.

chicobubba

Hi,

I wonder if anyone can advise me please, I have had an offer of compensation for my mis-sold endowment, but I have no idea if it is correct or where to get help with the calculation. I have been told that if I refuse this offer they can recalculate it, but the next offer may be lower so I'm not sure what to do or where to turn to for help.

The Endowment was taken out in March 1991, with Scottish Amicable, now Prudential, to cover a £31,500 Mortgage with profits, the monthly premium was £39.74.

Worst case scenario as of 2007 is a £12,000 shortfall.

Prudential have now offered me £3,100 in compensation and any advice would be most gratefully received.

dunstonh

Prudential have now offered me £3,100 in compensation and any advice would be most gratefully received.

Prudential use the correct calculation method so you accept it and think yourself very lucky. Scot Am policies have a very high success rate and its probably only the surrender penalty that is creating this payout. Without that there probably would be little or no payout.

AbbieCadabra

another success with Prudential, £1028 compensation offered today.
(copied from my original post on the 'other' thread, because i'm a lazy so 'n' so!)


i have to admit that i'm another that has been a bit blinkered on this subject , but i have finally got around to my complaint letter today (july) (as per the Which site).

£24,500 endowment in 1991 & we re-mortaged in 1998 - we kept the original endowment part & the 'new' bit was on a repayment basis to coincide with the end date of the endowment, due 2016.

we took out a fixed rate deal a few years ago & increased the amount on repayment by £7,000 as we'd had letters about the shortfall on the endowment.

i can't find any current info for the adviser that sold us the endowment, he was getting on in years, so just assumed we wouldn't be able to do anything...

we were very niave about financial 'stuff' back then & just took his friendly word for it that the mortgage would be paid AND we'd have something extra at the end too :rolleyes:

oh well, it's at least worth a letter to get the ball rolling - they can only say NO can't they!

forzaitalia

Have had pleasure from reading all the success stories for claiming compensation, and I was lucky enough to get just over £8000 from the Guardian earlier this year, but I have noticed lots of people asking whether it is too late to claim or whether they should claim.

I say once again GO AHEAD AND PUT IN A CLAIM NOW - YOU HAVE NOTHING TO LOSE BUT A COUPLE OF HOURS OF FORM FILLING.

My endownment mortgage was taken out in 1983 for £34,000. We were advised of a shortfall in 2000. I read Martin's email last year and decided to give it a go - what the heck! My claim was put in 7 YEARS after we were advised of the shortfall, way over the 3 year time bar but look how much I got. I DID STATE IN MY ORIGINAL LETTER THAT I WAS UNAWARE THAT I HAD BEEN MISSOLD THE ENDOWMENT UNTIL I READ MARTIN'S WEBSITE (WHICH WAS TRUE) AND THE GUARDIAN AGREED WITH ME.

DON'T DITHER, DON'T ASK ANYONE WHETHER YOU SHOULD OR SHOULDN'T, JUST DO IT! DON'T TAKE ANY NOTICE OF THE SO-CALLED EXPERTS ON THIS SITE WHO TELL YOU IT IS TOO LATE. DOWNLOAD THAT WHICH LETTER NOW AND GET THE BALL ROLLING - YOU COULD BE A FEW QUID RICHER (NO GUARANTEES OF COURSE!)

GOOD LUCK TO EVERYONE WHO GOES AHEAD AND ESPECIALLY TO MAYB WHO IS SO ENCOURAGING AND HAPPY WITH ALL THE SUCCESS STORIES.

A MILLION THANKS TO MARTIN AND THE TEAM

:T :T :T :T :T

napoleon_route

Strange tale...
I wrote my complaint letter about a mis-sold endowment in 2005 to Zurich (who had taken over Allied Dunbar, I think). Received a reply a month later telling me that the complaint was 'timed out'. Put it in the bin, move on etc...
Yesterday, September 2008, out of the blue I received a letter from Zurich, stating that after reveiwing my case they had decided that it had been poorly handled and they would make an offer of over £6000 for my mis-sold mortgage!
Is this normal? Has anyone else had a similar experience and if they are prepared to offer this money after three years, is it worth holding out for any more cash?
Advice gratefully received, cheers...