Report Endowment Misselling Compensation SUCCESSES

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Advice Wanted!

£25k mortgage. Stepping Stones Policy from Norwich Union (sold to us in 1990 by a financial advisor) which we were told was projected to reach £40k. Current projected amount is £21k. I changed to a repayment mortgage in 2001 but kept the endowment. The repayment morgage is not another 25 year mortgage it is over the (then) remaining 14 years of the endowment mortgage

I have just received an offer from Norwich Union of £362!

They say they have taken into account that my mortgage has been converted to a repayment. It appears they have ignored all my endowment premium payments between 1990 and 2001. When I argued about that the lady said that they were only obliged to correct my financial position. I pointed out that instead of using their money to compensate me it seems that because I have now paid a sizeable chunk off my mortgage they are using my money to compensate me! She "understands" my frustration but that is the rule.

Is it worth bothering with an appeal to the ombudsman?

Cheers,

Henry

savingdisgrace

Maria_1965 wrote:

Hi All,

Can anyone help applied for comp in July 2004 with Barclays life they sent forms and asked me to fill in they replied no chance at the time I was ill and My father in Law died so I left it

After seeking advice individuals said try again so I did they replied still no and its to late as we told you 2 yrs ago.

Please can I do anything.

Maria:mad:

I had a similar situation with Friends Provident recently. I applied for compensation about three years ago, had it refused but then heard from FP that they had looked into it again and thought I did have a case. I had to re-do all the paperwork but was then issued a compensation offer. At that point (Nov 04) my mother became extremely ill and it was only a few months ago that I wrote to FP asking if they would, under the circumstances I fully described to them, honour the offer. They agreed to resurrect the offer from 04 and also pay back the premiums I have paid since then.

I have been a bit of a nuisance trying to work out what I should do and asking for extra information but have been dealt with fairly and courteously throughout. Try writing to Barclays with the whole set of circumstances.

Good luck

SD

MissMoneypenny

Seller Halifax
Comp £4,100.00
Followed the advice on this site. I didn't realise it would be so easy. Thanks Martin.

Old_Codger_4

Hi Martin, Just a few words to say thanks for your helpful article on Endowment Mis selling.

Company : Legal & General
Compensation : £2082
When I got a letter from my endowment provider telling me it was not performing as promised I contacted one of the many companies operating to recover money due to mis sold endowments. They were quick to write back telling me my situation was too complex for them!!. I then read your artice and using the information provided sent in my claim. In about 8 weeks I was awarded my compensation..

caleb2003

Another thanks, after L&G refused to compensate me Dunstonh suggested i complain to the Ombudsman, result...complaint upheld and comp of £2300.

Nice one

dunstonh

Thanks for the update caleb2003.

tanith

Just received this offer in the post this morning both OH and I are walking round grinning like Cheshire cats... never in our wildest dreams, as they say...

Big thankyou for all the advice and info given to us hereabouts...:T

THANKYOU MARTIN FOR CONCEIVING THIS FANTASTIC SITE EVEN WHEN WE MUST SOMETIMES DRIVE YOU INSANE WITH OUR ENDLESS QUESTIONS!!!!



I would give everyone of you a big hug if I could , but its definately cakes all round .............. homemade of course:rotfl:

:T :T :T

ynot2005

i have just been sent a cheque for £817...not in the 15k league..but im still happy with it, i had paid off the mortgage in 1998 which was the reason its so low

anyone who is still thinking about putting in a claim...dont think about it any longer just do it

nidje

Seller CIS
Reveived £10739

I applied for compensation before I found this site. I wrote a letter stating my reasons for complaint (not expecting them to be upheld) they sent a fairly straight forward form to be completed and returned to them. I got a letter in the post to say they were looking into my claim and I would be informed of the out come in due course. A few weeks down the line and i received my cheque. So pleased I made the effort.

skyedog

I would like to say thank you to Martin for his endowment mis-selling article and for all the other posters on MSE.

Although I have been worried for some time about a projected shortfall, I would never have bothered to do anything about it if I hadn't come across this site. I only now understand about endowment mortgages and wished I had known a long time ago what I know now.

I was sold a Scottish Amicable endowment (now Prudential) at the end of 1988 by the Halifax.

After an initial complaint letter to them, I was given a form to fill in and then I had one follow up phone call, before receiving a letter saying our complaint had been upheld. Cheque for redress of £4500 arrived this morning and it has been paid in to our mortgage account. This gives me greater peace of mind.

I have a second endowment for a similar amount with Scottish Mutual and I am still going through the complaint process at the moment.

I plan to keep my endowments but I have started to make regular overpayments and the mortgage should be slashed dramatically by the end date.

Thank you everyone and to anyone who feels their endowment was missold but hasn't got round to doing anything, please do. It isn't difficult if you read Martin's article and go to his other suggested sites.