We will fight your endowment claim

John_G66

I have received this letter from a firm offering to fight my claim with L & G, they charge 25 % (+VAT) if the claim is a success. This fee seems a bit steep, has anyone used one of these firms, if so what were you charged and were they any good ?

Thanks

mah_jong

Hi there

Just talking about this tonight.... a friend has been offered the same deal (not sure which company though ), it says 25% PER CLIENT . So is this for each of the names on the mortgage???
Sorry no help to you ! perhaps someone else can help us??

simonjfisher

One of the best places to get free help is the Which website http://www.which.co.uk/endowmentaction which will talk you through the process and after entering your details will produce a letter for you to send to the Life company.

You should be able to do it yourself and save 25%.

Fairdo_2

Funny enough, I saw an article yesterday. Can't remember where, as it was of no interest to me until I saw this thread.

It looks like this is the new bandwagon for people or companies to make a bit of money off the backs of other peoples misfortune.

It was offering brokers a share of a companies share of comission for introducing clients to them, in order to claim on their behalf.

From what I remember, it looks like they worked on a basis of "No Claim No Fee" as they take a %age and offer the introducer a %age of that %age!!!!

I would suggest you do as Simon Fisher mentioned and get it done for free. I expect that is similar to the template these companies would use.

Froggitt

I also agree with Simon........I used the endowmentaction form and won miselling of two policies sold to me by Halifax.

dunstonh

These companies are not licenced and unregulated. Indeed, it was raised by an MP in the house of commons but like most comments, got a one line response and ignored.

A recent check on one of these sites showed that regardless of how you answered the mis-sale questions, it told you that you had been mis-sold.

I'm not sure how they get away doing that as technically, they are giving advice on a regulated product. However, apart from a few statements from the FSA saying that the costs of these companies cannot be recovered from the insurance companies and using them will not increase the probabality of payout, no-one is taking much notice.

gobananas5

It all depends on who you use and how confident you are (or how much you want someone else to do the work). 25%, I assume plus VAT, is way too much. If you must use someone then the Which site I think said somewhere, don't pay more than 15% including VAT, no win no win. To my knowledge, and that of a friend who is a compliance officer for a life company only two of these exist. If anyone is interested I can post details.