pep/isa mortgages

mjm72

I have received a phone call from emcas who told me after talking to them that I may have been wrongly sold my pep/isa mortgage back in 1997. They told me that if they are succesful in the "claim" they will take roughly 41% inc of vat of the total claim. How can I check to see if if I was wrongly sold my pep/isa mortgage? All I can find is info on endowment miss-selling? dont want to pay them 41%.

dunstonh

How can I check to see if if I was wrongly sold my pep/isa mortgage?

Simple. You either know you were or you were not. A claims company cant tell you if you were. They will of course tell you that you were because they want money off you. However, that doesnt mean you were.

mjm72

I thought that as well but then when I looked back at my original paperwork it does clearly state that "they would periodically check on the status of my investment and advise if changes needed to be made" Since then I have heard nothing!

I have moved mortgages since then but have kept the original investment in place (also upped the payments which was my own decision).

dunstonh

I thought that as well but then when I looked back at my original paperwork it does clearly state that "they would periodically check on the status of my investment and advise if changes needed to be made" Since then I have heard nothing!

These typically had review points kicking in around year 10-15 and then the last 5 years.

Generally, the complaints on investment backed mortgages were that you didnt know it was investment linked and that the values of the investment can go down as well as up and you could get back less than the target figure.