Endowment misselling sour success

col1n_2

I tried myself to contact my IFA due to being missold an Endowment but could not find him so I contacted FSCS who said he was not in default so they could not help me so as a last resort I employed a firm of Solicitors at 30% commission to try and get me compensation,they said they were unable to get me compensation also and closed my file.Several months later FSCS said my IFA was now found to be in default and they could process my claim.I was awarded £618 with the offer coming directly to me which I think is pathetic seems as my Endowment is on average £15000 short on a £40000 original projection.Nethertheless on the way FSCS calculate, this is all Im going to get so I have accepted.But also now the firm of Solicitors have wrote to me and said the offer has also been made by FSCS through them and so obviously they are now after 30% of my claim.As they said they had closed my file and given trying to get me compensation I think this is discusting.

Anyone any suggestions or thoughts on this

dunstonh

I was awarded £618 with the offer coming directly to me which I think is pathetic seems as my Endowment is on average £15000 short on a £40000 original projection

At this moment in time, you are not £15,000 short. You are £618 out from where you need to be. If you surrender the endowment and take the £618 and pay that into the mortgage, you will be in the same position you would have been had you started with a repayment mortgage in the first place. That is what you complained about and that is what you have now got.

But also now the firm of Solicitors have wrote to me and said the offer has also been made by FSCS through them and so obviously they are now after 30% of my claim.As they said they had closed my file and given trying to get me compensation I think this is discusting.

Thats what you got when you go no win, no fee.

Unless you have the letter saying that they closed your file, there is probably very little you can do about it. Most of these claims companies have it in their terms and conditions that they are entitled to payment even if you go it alone later.

col1n_2

Yes the Solicitors did send me a letter saying they had closed my file,unfortunately I did not keep this letter.Do you think this makes them not entitled to any %

col1n_2

Anyone else any thoughts on this