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Endowment
welshfilly
Posts: 2 Newbie
Hi,
I have recently been offered compensation for my mis-sold endowment policy from 1991. Back in March i was offered several thousand pounds, which i accepted on the basis i showed paperwork to back up my claim, which i did.Then in May i was offered less than £500 because the firm believed we had stopped paying towards the endowment in 1995, when we increased our mortgage. I provided them with more details ( i don`t have much) to show that we had infact been paying the premiuns up until 2005. They reviewed it again and offered me less than half of the original offer because they were unable to get detilas from my mortgage lender, so really had to guess what the figures should be.
Now i am really confused!
Should i accept this new offer or fight it? Baring in mind i do not have much paperwork to back up my claim? The offers seem extreme to me, from one end of the scale to the other. What should i do?
I have recently been offered compensation for my mis-sold endowment policy from 1991. Back in March i was offered several thousand pounds, which i accepted on the basis i showed paperwork to back up my claim, which i did.Then in May i was offered less than £500 because the firm believed we had stopped paying towards the endowment in 1995, when we increased our mortgage. I provided them with more details ( i don`t have much) to show that we had infact been paying the premiuns up until 2005. They reviewed it again and offered me less than half of the original offer because they were unable to get detilas from my mortgage lender, so really had to guess what the figures should be.
Now i am really confused!
Should i accept this new offer or fight it? Baring in mind i do not have much paperwork to back up my claim? The offers seem extreme to me, from one end of the scale to the other. What should i do?
0
Comments
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They dont guess the figures. You either supply them rates and dates or they use the Halifax SVR.
The calculation is done used a defined method so unless you think the data input is incorrect you cant argue with it.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
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