Am I too late to claim for mis selling

Radrich

Hi,

I purchased an endowment policy in 1991 to repay a £35k mortgage at a premium of £43 per month.

This was sold to me by a firm of solicitors.

I first received notification that it would not meet its target in 2001 and at the time had a projected short fall of £8k based on 6% growth.

I did nothing...and nothing every year since that they have told me it would fall short and is now projected to be £15k short of the £35k.

The reason why I did nothing, because I had assumed that this was just a temporary situation and the investment would recover, but mostly because I could remember the sales man from the solicitors telling me that it would exceed my mortgage and make a small profit.

A few months ago I had a phone call from a firm wanting to represent my case and to try and claim compensation. This led me to this site and to research on the internet. I decided to put the case to the seller myself and not to go through this third party.

I have completed the solicitors questionary, using the points on this site and the FSA, and they have asked me to send copies of all the letters that I have received from the endowment company.

These I have got, but I've noticed that on a letter from 2006, it says I have until August 2006 to make a claim.

Is it too late to make a claim and if so why did this third party want to take on my case?

I haven't sent a copy of the letters regarding my endowment to the firm of solicitors who sold me my claim yet....but do I have any chance of any compensation for being mis sold?

Thanks
Richard

Annisele

The third party wouldn't have known whether you were timebarred or not - I suspect that if you'd taken them up on their offer they'd have disappeared pretty fast.

I'm afraid that you likely are too late. You can still try to complain to the solicitors - you might get very lucky.

dunstonh

These I have got, but I've noticed that on a letter from 2006, it says I have until August 2006 to make a claim.

Not unexpected as over 3/4 of endowments are timebarred. Most were between 2005-2009.

Is it too late to make a claim and if so why did this third party want to take on my case?

it is too late. That is what the time bar is for. The sales person from the claims company is trying to generate a commission for a referral as well as the fact they wouldnt know its timebarred.

but do I have any chance of any compensation for being mis sold?

No.