Norwich Union Endownment £4k deficit at mo...is that a lot ?

dibbs26

cheers froggy for the reply. do you think I should just fill out the questionaire and not bother sending them copies of my paperwork..................

Froggitt

I filled in the questionnaire but had no paperwork to send in as it had all been dumped over the years. Sending either or both shouldnt preclude a successful claim......I won two misselling claims......one for a post 1988 endowment, and one for a pre-1988 endowment (a rarity at the time that got me on BBC Working Lunch).

I suspect most companies have also dumped most of the paperwork as they didnt know that it would come around to bite them on the bum twenty years later.

dibbs26

cheers, will put the questionaire in the post tonight and let you know how I get on. ta

scottishlizzie

dibbs26 wrote:

cheers, will put the questionaire in the post tonight and let you know how I get on. ta

Go for it. No need to send them your paperwork. Just fill in and send the questionnaire.

Poppy9

I tried all avenues of complaining about my Standard Life endowment which we bought in 1986. I even have the original letter from the FA working for the Estate Agents showing that the endowment mortgage option was slightly more expensiver but that it would generate a large cash surplus. Estate Agents taken over many years ago.

None of the ombudsmen were interested because its was in 1986. I even wrote to my MP who forwarded it on and I had a letter back saying sorry but tough luck basically.

Its quite hard trying to find out from SL how much the shortfall is as intially they said they guaranteed they would make up shortfall. Last letter from them predicted anything from £1800 to £4000 on a £17k mortgage. I have been paying into an ISA to make up shorfall as mortgage is due to end in 2010.

scottishlizzie

It is very difficult with pre-FSA complaints.

Froggitt

......except if it was sold by a Bank, Building Society or LifeCo, who will investigate pre-1988 complaints. Alias, Smith and Jones IFA etc generally wont.

Poppy9

What if the estate agents who sold it to me were taken over. I have been trying to find out if Peter Alan (Swansea) owned by the principality bs took over Parkhurst Estate agents as a business or just the premises. Tried FSA and they had no record.

scottishlizzie

Froggitt wrote:

......except if it was sold by a Bank, Building Society or LifeCo, who will investigate pre-1988 complaints. Alias, Smith and Jones IFA etc generally wont.

Correct that (often) they will investigate it. However they will also usually find it easy to defend because the duty of care of the adviser was less onerous pre-FSA.

Froggitt

scottishlizzie wrote:

Correct that (often) they will investigate it. However they will also usually find it easy to defend because the duty of care of the adviser was less onerous pre-FSA.

Sort of correct!!!

The difference was that pre-FSA the seller had no obligation to ensure that a policy was suitable for your circumstances, but crucially, they still had a duty of care to you.