Unit-linked Endowment

pmather116

which is not linked to a mortgage.
My wife was sold this as a savings product back in the mid 90's.
Does anyone know whether one can claim for mis-selling of an endowment even if the product is not linked to a mortgage?
thanks in advance for any answers.

opinions4u

It can be claimed. That doesn't mean it will be upheld.

But on what grounds do you think it's been mis-sold?

dunstonh

Does anyone know whether one can claim for mis-selling of an endowment even if the product is not linked to a mortgage?

For generations these were the medium to long term investment plans for people. For the year she took it out, then it is quite normal. There have been very few upheld complaints about these as the FSA do not allow complaints about investment returns or not having a crystal ball. The only potential area is risk but most of these were no more than medium risk which is well within the tolerance of most people. Especially on 10-20 year products.

What grounds for complaint would she use in any complaint?

holly_hobby

If it were not linked to a mortgage at inception (regardless of whether it later ceased to be used as a mortgage repayment vehicle), it was effected as a pure savings vehicle, and the suitability would be duly assessed as such under any mis-selling claim.

Hope this helps

Holly

pmather116

Thanks Holly and dunstonh,
i think you have answered my query. Thanks for replying with your thoughts. very helpful.