Ombudsman rejection 25 March 2016 at 5:29PM in Stoozing: free cash from credit cards 17 replies 2.8K views

Chris_Singleton7

My case for miss selling of an endowment mortgage was rejected by the ombudsman, as I had not responded to the warning letters even though I gave omitting circumstances.
Can I do anything about this as I have a 20k short fall on my policy?
:mad:

Ahmedmu

Hi The Ombudsman are completely a bias organisation and protect the companies only. As a person you are only seen as a statistic.

tomtontom

Ahmedmu wrote: »

Hi The Ombudsman are completely a bias organisation and protect the companies only. As a person you are only seen as a statistic.

Utter nonsense.

OP, what were your mitigating circumstances? I'm assuming these letters were some years ago.

Thrugelmir

Chris_Singleton7 wrote: »

My case for miss selling of an endowment mortgage was rejected by the ombudsman, as I had not responded to the warning letters even though I gave omitting circumstances.
Can I do anything about this as I have a 20k short fall on my policy?
:mad:

Problem is yours to resolve. Doing nothing was never an option.

Chris_Singleton7

Thanks It was about 10 years ago. My omitting circumstances’ were as I suffer from dyslexia and my wife at the time delta with all the correspondence. I was going through a particularly horrible divorce with said wife at the time of these letters; the last thing I was interested in was how my endowment was NOT performing?

tomtontom

Chris_Singleton7 wrote: »

Thanks It was about 10 years ago. My omitting circumstances’ were as I suffer from dyslexia and my wife at the time delta with all the correspondence. I was going through a particularly horrible divorce with said wife at the time of these letters; the last thing I was interested in was how my endowment was NOT performing?

Your disinterest is not grounds for a (very) late appeal.

Is your dyslexia sufficiently severe that you cannot read a letter? You're able to read and respond to posts here.

Chris_Singleton7

I have done something since and addressed it on a financial level, as you will read I am dyslexia

tempus_fugit

Whilst I sympathise with your situation unfortunately it was down to you to heed the warning letters and take whatever action was necessary to ensure that you would have the funds to pay off the mortgage at the end of the term. I was in a similar position about 7-8 years ago and the thought of having a huge part of my mortgage that I could not pay off made me take at the appropriate action. I do agree though that some of the promises made by the insurance companies as to the expected performance of these endowments were quite ridiculous, but at the time we thought that they were realistic, whilst also realising that it was not guaranteed. What was galling was the extent to which they underperformed. That said, it was still down to me to take appropriate action to avoid disaster and this will be how the Ombudsman Service is treating it..

Chris_Singleton7

For the past 10 years I have had a partner who has helped me a great deal with my dyslexia as she works with learning difficulties children, she is assisting me with this.

Chris_Singleton7

Thanks, I have done something since and addressed it on a financial level, just wondered if there was any redress against the ombudsman decision.

eskbanker

Chris_Singleton7 wrote: »

I was going through a particularly horrible divorce with said wife at the time of these letters; the last thing I was interested in was how my endowment was NOT performing?

I'd have expected whoever was representing you in divorce negotiations to have been diligent enough to take account of the widely-reported endowment shortfall issue at the time, so you might be able to make some sort of case against them if you've been dropped in it financially for something that should have been identifiable at the time when valuing marital assets?