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Endowment pay out problems
Mathschick_2
Posts: 1 Newbie
Dear all please help!
25 years ago my husband got bought a house with a mate but he only stayed with it for six months, thereafter he sold his half properly with solicitors. The trouble is he took out an endowment and had it assigned to the mortgage with the Woolwich. Now we have continued to pay £25 every month for the policy thinking it was not going to worth as much as sold but it would be something. This was all before I married or met my husband so I knew nothing about the assignment.
The policy was with royal and sun, who have now been taken over by Phoenix. They have a note of assignment on their computer system but no original docs or mortgage number! They have written to Barclays asking them to say they have no interest in the policy but all three letters have been ignored. My husband has visited the branch of Barclays with ID but has not been allowed to speak with the mortgage department as he does not have a mortgage with them! They say they cannot find him in the computer but cannot write a letter saying they have no interest without mortgage number.
My husband wrote to them three weeks ago a very long letter explaining everything and just asking them to write to Phoenix saying he doesn't have a mortgage with Barclays/ Woolwich! They have also not replied to this letter even though we included copied of ID and the original endowment policy docs.
The trouble is that everyone has been taken over and so no one has the mortgage number and my husband does not have anything from the sale of the house not even the address!
We have paid ever month into this policy and it matured 3 weeks ago. What can we do if Barclays will not even reply to letters! Phoenix just say they cannot pay out without this letter!
Please help we were relying on this money to pay off the last bit of our mortgage with a rate of 5.99%! Have we any hope of getting this money?
Please help as we are very upset and worried about the xtra mortgage.:mad:
25 years ago my husband got bought a house with a mate but he only stayed with it for six months, thereafter he sold his half properly with solicitors. The trouble is he took out an endowment and had it assigned to the mortgage with the Woolwich. Now we have continued to pay £25 every month for the policy thinking it was not going to worth as much as sold but it would be something. This was all before I married or met my husband so I knew nothing about the assignment.
The policy was with royal and sun, who have now been taken over by Phoenix. They have a note of assignment on their computer system but no original docs or mortgage number! They have written to Barclays asking them to say they have no interest in the policy but all three letters have been ignored. My husband has visited the branch of Barclays with ID but has not been allowed to speak with the mortgage department as he does not have a mortgage with them! They say they cannot find him in the computer but cannot write a letter saying they have no interest without mortgage number.
My husband wrote to them three weeks ago a very long letter explaining everything and just asking them to write to Phoenix saying he doesn't have a mortgage with Barclays/ Woolwich! They have also not replied to this letter even though we included copied of ID and the original endowment policy docs.
The trouble is that everyone has been taken over and so no one has the mortgage number and my husband does not have anything from the sale of the house not even the address!
We have paid ever month into this policy and it matured 3 weeks ago. What can we do if Barclays will not even reply to letters! Phoenix just say they cannot pay out without this letter!
Please help we were relying on this money to pay off the last bit of our mortgage with a rate of 5.99%! Have we any hope of getting this money?
Please help as we are very upset and worried about the xtra mortgage.:mad:
0
Comments
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I had a problem getting responses to an admittedly much simpler question from Prudential over an endowment that had matured. I made a formal complaint and hey presto they sorted it out.0
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