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Execution only endowment
Gaz1967
Posts: 2 Newbie
I have a endowment which is obviously not performing well. I asked my mortgage provider at the time (I have since re-morgaged) about mis-selling and they re-ferred me to the broker that sold me the policy. However, at the time of taking out the policy I was offered a payment of £250 to take on the policy the only fallback being it was 'execution only'. The cash at the time seemed to good to be true for a couple of first time buyers struggling for cash. So how do I stand now? Can I claim through either the building society or the broker? Any help would be appreciated.
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I have a endowment which is obviously not performing well. I asked my mortgage provider at the time (I have since re-morgaged) about mis-selling and they re-ferred me to the broker that sold me the policy. However, at the time of taking out the policy I was offered a payment of £250 to take on the policy the only fallback being it was 'execution only'. The cash at the time seemed to good to be true for a couple of first time buyers struggling for cash. So how do I stand now? Can I claim through either the building society or the broker? Any help would be appreciated.
No - you're fcuked, you sold your Soul to the Devil !!!!!:eek:0 -
I asked my mortgage provider at the time (I have since re-morgaged) about mis-selling and they re-ferred me to the broker that sold me the policy. However, at the time of taking out the policy I was offered a payment of £250 to take on the policy the only fallback being it was 'execution only'. The cash at the time seemed to good to be true for a couple of first time buyers struggling for cash. So how do I stand now? Can I claim through either the building society or the broker? Any help would be appreciated.
You cannot claim as you went execution only. This means you didnt seek advice and therefore cannot claim for bad advice.
When you buy direct without an adviser you reduce your consumer protection. Its part of the trade off with getting improved terms.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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