We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Cant Claim against Endowment Mis-Selling.
rizla01
Posts: 7,260 Forumite
I have just learned that
BECAUSE MY MORTGAGE WAS TAKEN OUT PRE 1988 THAT THE FSA ARE NOT INTERESTED IN PERSUING ANY CLAIM.
IS THIS CORRECT?
APPARENTLY, THE ONLY REDRESS LEFT OPEN TO ME IS TO SUE THE COMPANY CONCERNED. (BARWICKS ASSOCIATES, WHO HAVE SINCE CEASED TRADING, I BELEIVE).
(Sorry, hit Caps in error)
Riz
BECAUSE MY MORTGAGE WAS TAKEN OUT PRE 1988 THAT THE FSA ARE NOT INTERESTED IN PERSUING ANY CLAIM.
IS THIS CORRECT?
APPARENTLY, THE ONLY REDRESS LEFT OPEN TO ME IS TO SUE THE COMPANY CONCERNED. (BARWICKS ASSOCIATES, WHO HAVE SINCE CEASED TRADING, I BELEIVE).
(Sorry, hit Caps in error)
Riz
"Unhappiness is not knowing what we want, and killing ourselves to get it."
Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))
Women and cats will do as they please, and men and dogs should relax and get used to the idea.
0
Comments
-
Correct.
The FSCS is currently funded by companies trading today. I think its a bloody cheek that i have to pay for mis-sold policies in classes of business that I did not transact in. However, thats another story.
I don't know of any successful cases pursued through the courts. Pursuing a Ltd company (as it probably was) which is no longer in existence would seem a little futile. In addition, I read recently that the courts have much lower limits on payouts than those that would be awarded by the FSA.
You can't have much of a shortfall on a 1988 policy though? (here's me waiting for you to give us a terrifying figure!!
) I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Mortgage was £33,000 Expected payout was approx £40,000.00.dunstonh wrote:Correct.
The FSCS is currently funded by companies trading today. I think its a bloody cheek that i have to pay for mis-sold policies in classes of business that I did not transact in. However, thats another story.
I don't know of any successful cases pursued through the courts. Pursuing a Ltd company (as it probably was) which is no longer in existence would seem a little futile. In addition, I read recently that the courts have much lower limits on payouts than those that would be awarded by the FSA.
You can't have much of a shortfall on a 1988 policy though? (here's me waiting for you to give us a terrifying figure!! )
Guaranteed sum is £20,000.00 and payment are approx £56.00 pm.:(
Bad enough!!
"Unhappiness is not knowing what we want, and killing ourselves to get it."Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))Women and cats will do as they please, and men and dogs should relax and get used to the idea.0 -
Expected = FictionIf you don't know what you are talking about keep quiet0
-
The guaranteed sum assured is usually 1/3 to 1/2 of the target amount. Is the guaranteed sum you refer to the guaranteed minimum maturity value or the guaranteed sum assured.
Although i advise on more surrenders than keeps, the information should be checked carefully as there have been many occurances where shortfalls of 5-10k have been shown a year or two before maturity only for them to mature with surpluses.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I would like to refer you to the FSA dunstonh, please provide full details ASAP.If you don't know what you are talking about keep quiet0
-
refer what?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
I think he was willing to pass your case to the FSA, hopefully allowing you to make a claim.
You would be looking for a settlement offer from your life policy company to know the exact amount that they would be paying out to you. The guaranteed minimum takes into consideration other criteria which drive the amount down.Scott0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards