mis-sold pension linked motgage

samay30

hi, first off appologies for any ignorance on my part, this is my first post and i'm new to this game.
Anyway here goes . . i just want to know if it's possible to have been mi-sold a pension? (i see there is lots of info on mis-sold mortgage endowments). Some years ago i was advised by a broker to change my endowment mortgage for a pension linked mortgage. The morgage has got about 10 years left to run but recent projected figures from the pension company seem to indicate that the lump sum amount that i'm likley to get will be way short of the amount required to settle my mortgage, this pension was just ment to settle the mortgage as i already had and have a personal pension? Any advice would be much appreciated. Many Thanks

defender_of_the_weak

Pension mortgage complaints work in the same way as endowments. First you need to track down the broker and complain to them if they still exist. If you are unsure of the broker name, contact your pension provider and they will be able to supply this information.

Given that you already had a personal pension it is not the product that is wrong but potentially the use of it as a repayment vehicle and the risk of shortfall amongst other issues.

samay30

Thanks defender of the weak.
I had wondered if they could be treated in the same way, I'll now gather all my info and see what they have to say for themselves! Presumably something along of the lines of the standard mis-sold endowment complaint letter should start things rolling.

ndcdavis

I've brought a complaint about this. Yes, just kick it off with a letter similar to that for an endowmnet complaint.

I then referred the matter to the ombudsman. They have a standard pension mortgage questionnaire, so it is worth askign for that otherwise you (like me) will have to provide all the info twice!

Mind you, i'm still in the long queue at the Ombudsman!

Good luck!