Compensation offer..reject or accept

Cashcade

Norwich Union have decided, after i made a complaint regarding endowment mortgage, that i incurred a financial loss.

I was wondering what are the chances of them upping the offer if i reject this initial offer and take it further?

Also, wht is the best way to do so

Thank

dunstonh

I was wondering what are the chances of them upping the offer if i reject this initial offer and take it further?

If calculated using the FSA approved method then no chance of them increasing it. Indeed, with a improving market and NU's with profits fund being quite good, you could end up with less if you insist on a recalculation.

THis is not compensation but redress to put you in the position you would have been had you gone with a repayment mortgage. Unless the figures input are wrong or change themselves (such as surrender value increasing/decreasing) then the result will be the same.

Cashcade

thanks mate.

What about getting lawyers involved who specialise in this field?

Something that work along the lines of a "no win no fee"

dunstonh

What about getting lawyers involved who specialise in this field?

Something that work along the lines of a "no win no fee"

NU have upheld the case already. So, if you bring one in now, they will take 25% of the very same amount and you get less. Financial services redress does not cover the cost of any external companies you use as the complaints process is free. You would have to pay their fee.

Cashcade

Cheers mate.

How about if i write to them and reject their offer and say something along the lines of "i think this offer falls slightly below expectations...etc.." and ask them to top it by 1k..and thn we'll accept it.

will that work

toonfish

I don't think he can make it any clearer, you have the offer of redress which is all you are entitled to, and all you will get