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Prudential - extra fees
MakeitgoRIGHT
Posts: 54 Forumite
I received a letter in June to explain that Prudential had been including some fees into my Endowment Plan/product for their home improvements blah blah, in a letter that looked quite boring - the type that you just file or bin.
They were just mentioning it now because it was not showing in their brochure and they wanted to be nice people etc - nothing for me to worry about, nothing has changed, all fine.
But, hold on. That's an extra 0.03% fee on my payments/returns that they have just added in, just like that.
I complained about it, of course, as 0.03% sounds like nothing, but when you apply it to a £90k mortgage, and then compound it, that is starting to look like about £4k of my cash, lost into their overheads/salaries..... for an endowment that is already attracting red and amber warning letters as to poor performance. (I'll bet they do not get the same letters regarding their salaries etc).
Anyone else had this letter from Prudential?
Anyone else doing anything about it?
They were just mentioning it now because it was not showing in their brochure and they wanted to be nice people etc - nothing for me to worry about, nothing has changed, all fine.
But, hold on. That's an extra 0.03% fee on my payments/returns that they have just added in, just like that.
I complained about it, of course, as 0.03% sounds like nothing, but when you apply it to a £90k mortgage, and then compound it, that is starting to look like about £4k of my cash, lost into their overheads/salaries..... for an endowment that is already attracting red and amber warning letters as to poor performance. (I'll bet they do not get the same letters regarding their salaries etc).
Anyone else had this letter from Prudential?
Anyone else doing anything about it?
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