Mis-sold endowment

Parstu

Parstu wrote: »

Yes, that what their literature says don’t know how to upload a photo on to this site otherwise I would photograph it, cheers

Reaper wrote: »

You can store your photo online. Try a Google search for "forum pictures" and select a free site. Then use the "Insert Image" button (icon shows a mountain) to link to it.

If the prediction was in excess of the guidelines at the time that could be grounds for complaint.

Remove any personal info from the picture that identifies you of course.

Being new to this site I’m unable to add any links, cheers

davidmcn

Parstu wrote: »

Being new to this site I’m unable to add any links, cheers

You just need to make it not look like a link - add some spaces or something.

RADDERS

The other thing to remember was that part of the premium was to pay for life insurance, that would have paid out the full amount of the sum assured if the persons covered would have died.

Daves1954

I have in the past been mis sold an endowment mortgage but thought I could no longer make a claim.  I have however been recently contacted by a company offering help in making a claim, no doubt they will want a good chunk of any claim.  Can anyone advise as to whether claims are being considered, what are the limitation and what is the best way to make a claim myself and therefore not lose  good chunk of any compensation.

dunstonh

Warning - 2018 thread revival by a different poster - don't go replying to old posts by mistake.....

I have in the past been mis sold an endowment mortgage but thought I could no longer make a claim. 

Most are now timebarred from complaint but not all.

 Can anyone advise as to whether claims are being considered, what are the limitation

As I am sure you have read the thread you have revived, there is the 3 and 6 year rule.    i.e. you must complain within 6 years of the start date or 3 years from being reasonably aware of an issue.      Most endowments have matured now with only stragglers remaining.    Maturity could be a trigger for the three-year rule if you fell short and you are complaining about the shortfall (which in itself is not a valid complaint reason but is sufficient to trigger the 3-year clock).

Most providers issued warnings between 2001-2007.  This allowed them to trigger the 3 year rule.   Not all did but its estimated around three quarters of all endowments are now barred from complaint.

So, is your endowment still running or has it matured or did you surrender it?  Was this more than 3 years ago?

 and what is the best way to make a claim myself and therefore not lose  good chunk of any compensation.

You make a complaint to the firm that originally gave the advice.  If you bought direct or non-advised then you cant complain.   You state your reasons for complaint in your letter and provide a copy of any evidence that supports your complaint.

The firm, if not timebarred, will investigate your complaint and look at any evidence you supply along with your complaint reasons and look at any evidence they have on file.

There are not many CMCs still active with endowments nowadays given the low numbers left that can still complain.  Plus, the success rate was much lower than PPI and they had that gravy train to live off.  One of them still active uses a template letter and those do more damage than good as it causes you to lose credibility if points on the template are easily refuted (in the balance of probability decisions the most credible party tends to win.  If your template letter is a scattergun approach of every reason possible, even if it cannot possibly apply to you then your credibility is reduced.  Even the FOS say they prefer personalised complaints and not templated).