Posted complaint

jenga_60

Anyone in the same boat? I posted my endowment complaint to the large company whom i have been with for twenty years, they are now saying that i must take my complaint to the company who were responsible for taking out the mortgage.
The estate agent who i bought my house from was the provider? I thought i had bought my house off them who then put me in contact with the mortgage company who then advised me on the endowment.
However the estate agent was a small firm who were brokers for the mortgage company.They now say that they were never part of the company.
I'm confused:

shameless-about-money

Under present rules the mortgage broker is not allowed to sell the endowment policy unless they are also an IFA.

I have no idea what the rules were 20 years ago but someone will be along shortly who will know. I just wanted to bump up the thread for you.

dunstonh

The company that provided the advice is responsible for advice given. Not the product provider. The "Large" company are correct to reject it if they never gave any advice on it.

If the estate agent adviser were representatives of the "Large" company, then the company would be liable. If the estate agent adviser was independent then they are liable for the advice given.

You shouldnt complain to the mortgage company. You complain to the estate agent.