Double missold endow claim?

Lady_K

I had a missold endowment claim with Standard Life around this time last year. I rang Halifax today with a query about my mortgage and during the conversation the lady suggested I have a claim form sent to me to see if Halifax would pay the shortfall that has been predicted by Standard Life. I told her that I had already had a missold endowment claim through the Standard Life and they had paid a small sum to me for that already. She said that does not matter, if Halifax sold me the mortgage I could possibly get another claim and they would pay the shortfall in full... Is that right? Sounds a bit too good to be true maybe? Shes sending the forms anyway

Moncs_2

I would be very interested in the outcome of this, becuase I have my mortgage with Halifax, transferred it from Bank Of Scotland who are now the same company. My mortgage has a projected shortfall of £15k and has 18yrs to run.

I also claimed against the endowment company a few years back and recieved compensation of £2k

dunstonh

She is wrong.

Lady_K

I more than half expected that she would be wrong because whenever I have called Halifax about anything most of the time I get incorrect information from them, whether it be banking or mortgage.

I might have to think of looking into having a repayment mortgage covering the expected shortfall amount only. Someone mentioned it to me that it might be an answer. I havent recieved my annual statement from the Standard Life this year yet though, it's very late, I'm kind of dreading this years predictions

Kantankrus_Mare

Im a tad confused!!! Ive been reading many threads on this board about mis-selling complaints and I'm in the middle of complaints about two policies at the moment. One sold by the Nationwide who have admitted we were mis-sold and still awaiting news on the other which was sold by the Halifax.

I'm reading that some people are filing claims against the endowment provider themselves (mine is Standard Life) I wasnt aware this was an option and if it is how do I go about it?

Thanks
Mare
x

Froggitt

You wont get two payments from the one endowment policy.....only one of them sold you the policy therefore only one of them missold it to you.

However, if you have two endowment policies, you can claim misselling and receive compo on each.

EdInvestor

The confusion arises because although it may appear that you bought the mortgage from the Halifax ( perhaps from an employee in the local branch), the Halifax salesperson would have been technically acting at the time as a "tied agent" (ie employee) of Standard Life, thus the latter is responsible for paying the compo.

Just to further confuse the issue, if the endowment was sold before regulation came in in 1988, when the system was different, the Halifax would probably have been the seller.

I'm not really surprised the woman in the call centre was confused. :rolleyes: