Life assurance policy mis-sold??

Artypants

Hi everyone, I'm enquiring on behalf of my grandparents, I'll try and keep this as concise as possible.

In 1985 the re-mortgaged their property with Barclays, the FA they saw at Barclays said they HAD to have a seperate life !!!. policy to cover them in the event of either death, this is all despite having an endowment mortgage, which would have covered them for this anyway. The same FA sold them that mortgage so knew about it. They at the time had no reason to doubt what they were being told, which was basically "you cannot have the mortgage unless you have this policy".

Is the endowment enough proof to prove mis-selling? He said she said is difficult to prove I know, but if that one thing alone will back up their claim then I know how to formulate a letter of complaint. Are their any clauses as such that I can refer them to? Does it matter that the FOS did not exist in 1985? (I dont think they did anyway, so I'm told :S)

Many thanks in advance,

H

dunstonh

Is the endowment enough proof to prove mis-selling?

No. Most people have multiple needs and just taking out enough life assurance to cover the mortgage would not be enough. You would expect people to have multiple life assurance plans to cover their multiple needs.

Are their any clauses as such that I can refer them to?

No.

Does it matter that the FOS did not exist in 1985? (I dont think they did anyway, so I'm told :S)

It is way before regulation and records are likely to be near non-existent. It is 27 years ago and an unprovable verbal allegation. It is also in a period when the banks were allowed to insist on as much life assurance as they wanted to secure the debt.