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Re-claiming miss-sold endowments

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?

Comments

  • opinions4u
    opinions4u Posts: 19,411 Forumite
    No. You can't.
  • holly_hobby
    holly_hobby Posts: 5,363 Forumite
    1,000 Posts Combo Breaker
    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
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    opinions4u wrote: »
    No. You can't.

    :rotfl::rotfl::rotfl:

    Short and sweet, love it.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • coord47
    coord47 Posts: 4 Newbie
    Part of the Furniture Combo Breaker
    Thanks guys nd dolls
  • magpiecottage
    magpiecottage Posts: 9,241 Forumite
    1,000 Posts Combo Breaker
    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.
This discussion has been closed.
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