Report Endowment Misselling Compensation SUCCESSES

lisajaynec

Hi All
I've just had an offer today of 20k for my miss sold endowment, things are looking up.:j
Good luck everyone with your claims
Lisa

pineapple

What is the definition of 'missold'. If it was not pointed out that there might be a shortfall, fair enough. But if people knew they were taking a cheap gamble and chose to shove that to the back of their minds, I don't think they should get a penny. Otherwise it's the rest of us who looked at the small print and who chose the more expensive route, others who want a mortgage who end up paying for all these claims. As soon as the mortgage adviser said 'we can't actually guarantee that the end bonus will cover the whole sum but...' that's when I backed out.
I have a feeling that there a lot of people jumping on this particular bandwagon. Unfortunately people like me end up paying for the gullibility, greed and stupidity of others.

dunstonh

But if people knew they were taking a cheap gamble and chose to shove that to the back of their minds, I don't think they should get a penny

It was recognised that with the endowment mis-sale issue (and pension previously) that many people received redress who were not entitled to it. You can see this with the PPI issue currently.

eirelav1962

h all can i claim for my endowment poilcy being misold i took it out 1988 had a big shortfall on it had to go to repayment morg dont have the policy now any advise would be great i was advise i would have a lump sum andit would be off my morg

dunstonh

can i claim for my endowment poilcy being misold i took it out 1988 had a big shortfall on it had to go to repayment morg dont have the policy now any advise would be great i was advise i would have a lump sum andit would be off my morg

Shortfalls are not grounds for complaint.

1988 was when regulation was introduced and the FSCS came into play. Depending on the day you say signed the application, you may not be able to complain even if you have a valid complaint. When did you sign the application?

Also, over 3/4 of endowments are now timebarred from complaint. You may be in the 1/4 left but statistically, that is unlikely.

eirelav1962

hi took the endowment out in november 28th 1988 its with axa thanks

dunstonh

eirelav1962 wrote: »

hi took the endowment out in november 28th 1988 its with axa thanks

Did an AXA sales rep sell it to you or did an IFA?

What would be your reasons for complaint?

Are you timebarred? (have you had more than three years of a high risk of shortfall in your endowment maturity - that is what activates the time bar - most started showing shortfalls around 2001-2004 and were timebarred by 2007-9)

eirelav1962

i think it was roy slater estate agent at the time i was told it would pay off my mort and i would have a lum sum at the end but i had 3 diff amount of shortfall on my morg i went onto repayment about 4 or 5 years ago wasnt advised of any shortfall on my morg at all thanks

eirelav1962

my mortgage wont be paid off till november 2013 i just didnt think i would have a shortfall of 3 diff amounts after paying endowment forall these years

dunstonh

i think it was roy slater estate agent at the time i was told it would pay off my mort and i would have a lum sum at the end

Would or could? What evidence exists?

Any complaint you make will be against the agent. Not the insurance company

i went onto repayment about 4 or 5 years ago wasnt advised of any shortfall

What made you go on to repayment basis?
Have you not been receiving statements on the endowment?