2004 Endowment Mortgage Help Please

Ruthheather

Hi, I am hoping that somebody can help me. In 2004 we sold our house in West Sussex, the reason why we sold our house is we had a £30,000 shortfall on our endowment mortgage and we could not afford to remortgage our house to a repayment mortgage at that time. We were so worried that we would lose the house we decided to sell it. Somebody has advised me that we have a valid claim against the mortgage company (The Woolwich) even though we redeemed our Endowment policy. Is this correct and if so does anybody know how I go about it.
Thank you in advance to any advice given.

McKneff

Presumably you stopped paying your endomwnt premium when you sold your house ?
How can 'someone else tell you you have a valid claim,
How do they know ? .

Ruthheather

I understand what you are saying about the valid claim, that is why I was asking the question. I would like to say thank you for your information I did not know it was from 2005 so we won't bother waisting our time, Many thanks.

Thrugelmir

Ruthheather wrote: »

the reason why we sold our house is we had a £30,000 shortfall on our endowment mortgage and we could not afford to remortgage our house to a repayment mortgage at that time.

Could you not remortgage at the time the endowment matured? As only a £30k mortgage was required.

RichardD1970

McKneff wrote: »

Presumably you stopped paying your endomwnt premium when you sold your house ?
How can 'someone else tell you you have a valid claim,
How do they know ? .

You dont get it back just because you paid it.
Ppi waz not regulated till 2005 so you are on a hiding to nothing I'm afraid

They're not asking about PPI but endowment miss-selling.

We claimed on our endowment, taken out in 1995, and got an amount (plus the cashinging in of the endowment) that would put us back in the position we would have been in if we had a repayment mortgage.

dunstonh

Somebody has advised me that we have a valid claim against the mortgage company (The Woolwich) even though we redeemed our Endowment policy. Is this correct and if so does anybody know how I go about it.

it doesnt sound right, no.

You have three years to complain when you are reasonably aware of an issue. Your surrender and sale in 2004 meant you should have complained by 2007 if you felt there was reason to complain.

So, the firm involved can bar you from complaint using the FCA rules on timebars.