Building Society changed their preferred endowment provider. Did it cost me?

R15fay

When we first took out our mortgage in 1986 with Halifax, they automatically used Sun Alliance (one of the worst performers) as the endowment provider. A few years later they changed their provider. I believe my endowment policy didn’t perform as well as expected because of this change. As a major mortgage provider they put their business elsewhere which presumably cost Sun Alliance and myself.

[Deleted User]

It might have cost Sun Alliance, but how did the change cost you?

Edi81

30 years later you are complaining!
Why did you not complain at the time?
How much of a shortfall did you have?

AnotherJoe

All credit to Halifax being able to determine what investment performance in 25 years time would be I'm surprised they haven't used that knowledge to gain total world dominance by now.

kingstreet

In 1986 they could use any provider.

A few years later, under polarisation, Halifax became an appointed representative of Standard Life and was from that point on unable to sell other providers' products.

dunstonh

When we first took out our mortgage in 1986 with Halifax, they automatically used Sun Alliance (one of the worst performers) as the endowment provider.

In the 80s, until Halifax entered the tie in with Standard Life, they had no preferred provider. Polarisation didnt come until 1988 and firms entered into agreements in the lead up to that.

Typically, the local builiding society used a local brokerage. Often the broker firm seeing you in the Halifax branch.

I believe my endowment policy didn!!!8217;t perform as well as expected because of this change.

It had absolutely no impact on performance.

As a major mortgage provider they put their business elsewhere which presumably cost Sun Alliance and myself.

Would you like to explain how?