Report Endowment Misselling Compensation SUCCESSES

baronshouse

Thanks for the reply - yes there was dates on the warning letters to take action by, so maybe we have missed the boat. I have sent a letter to our provider to initiate a claim so will watch this space - there is no harm in trying!

with regard to the underperforming - the predicted payouts dont show it maturing anywhere near the initial sum and even at 8% it will still pay out £5000 less. I think we are just gutted that had we paid the same amount into a savings account for the past 12years we would be 2grand better off.

Would you recommend cashing it in and moving it to an ISA?????

tifo

Provider : Aviva

Amount : £31,000

I have a friend who has been offered a total of just over £31,000 which is the amount required to pay off his mortgage in full. He is now asking for another £5,000 which is the amount of interest he has paid since his mortgage should have been repaid by the endowment. So the total could be just over £36,000. Basically the provider is putting him in the same position he would have been had he had a repayment mortgage and paid off his mortgage at the end of the term.

Makela2009

Hi all,
I'm after some advice please.
My partner has had a letter in the last 18 months advising of an 'amber alert' from his endowment provider. There is no mention of a timebar.
I've looked into this further, adn wrote a letter to the company who sold the policy 'Shakespeare Insurane co - inc The Mortgage Shop' , but they have ceased to trade.
I have two questions
1) Is the Amber alert (as opose to Red) of possible shortfall enough for me to claim mis-selling
2) If the company has ceased to trade, can I go to the FCSC?

Many Thanks

dunstonh

Makela2009 wrote: »

Hi all,
I'm after some advice please.
My partner has had a letter in the last 18 months advising of an 'amber alert' from his endowment provider. There is no mention of a timebar.
I've looked into this further, adn wrote a letter to the company who sold the policy 'Shakespeare Insurane co - inc The Mortgage Shop' , but they have ceased to trade.
I have two questions
1) Is the Amber alert (as opose to Red) of possible shortfall enough for me to claim mis-selling
2) If the company has ceased to trade, can I go to the FCSC?

Many Thanks

This is a thread for reporting successes rather than for discussions. If you need to post more questions, you are better off starting your own thread.

1) Is the Amber alert (as opose to Red) of possible shortfall enough for me to claim mis-selling

No. Investment returns are not something you can complain about. It doesnt matter if its red, amber or greeen.

2) If the company has ceased to trade, can I go to the FCSC?

You can, providing the company were not an agent of the insurer or the policy was taken out after 29th August 1988.

With over 3/4 of endowments now time barred, its possible that there is nothing on your last paperwork as its already done and dusted. The insurer will confirm if it is time barred or not.

elsie52

Hi,

We have today received a letter offering us almost £2,800....:j:j:j...I cannot believe it, things don't usually go this way for us. We are highly delighted, and without this site I wouldn't have thought of trying to claim it back.:T:T

roofer

Is there a template letter on this site as i dont see one ??

ElleDee_2

Yes, I was looking for a template letter too!!

imavillan

roofer wrote: »

Is there a template letter on this site as i dont see one ??

ElleDee wrote: »

Yes, I was looking for a template letter too!!

google ''endowment complaint letter template''

you will find one at thisismoney

ManicMum

Just received compo of £953 for an endowment that I had less than 5 years before swapping to repayment mortgage. I am really pleased and totally did not expect to get a penny. In fact I nearly didn't bother to apply as self-styled 'experts' on these forums said I would get hardly anything, if at all. So, my message is apply as you never know!

mayb_2

Too true!!