Re-claiming miss-sold endowments

coord47

I have already claimed (2 to 5 years ago) for three miss-sold endowments and received small compensation payouts. These payouts, together with the matured final endowments, were still short of the mortgage that they were supposed to cover.
Can I reclaim?

opinions4u

No. You can't.

holly_hobby

You accepted the compensation in full and final settlement of your complaint ..... the fact you retained them, despite your complaints, suggests they may have been suited your risk profile all along ....

Holly

McKneff

opinions4u wrote: »

No. You can't.

:rotfl::rotfl::rotfl:

Short and sweet, love it.

coord47

Thanks guys nd dolls

magpiecottage

Upholding the complaint meant that it was agreed that, if you had been properly advised at outset, you would have taken a repayment mortgage.

The redress calculation worked out how much would have been repaid at the time it was done. The redress was that amount less what you could get by surrendering (cashing in) the policy.

So if you had done that and changed to a repayment mortgage then it would have been paid off.

That you chose not to do that, when you already knew your policy was underperforming, was your decision and nobody else recommended you did it. So the only person you can claim against is yourself.