Claiming mis-sold endowments - please help!

Linzi_Stringer

I'm trying to help my parents claim on their mis-sold endowment which they took out in 1990. We have written to the advisers with a complaint but they have come back saying that without a copy of the original form which the adviser gave them at the time there is nothing they can do. They also said that their files have now been destroyed so they don't have a copy.

Is this true? Is there nothing they can do?

EdInvestor

They have rejected your complaint so now you should take it to the Ombudsman before 6 months are up.Don;t miss this deadline.

https://www.financial-ombudsman.org.uk

It's up to the company to show the sale was suitable, and since they have lost your file, they won't be able to defend the claim, so the FOS should find in your favour.

Linzi_Stringer

Unfortunately it was longer ago than 6 months already, I've just stepped in to try and help them.

Does this now mean that there's nothing they can do?

EdInvestor

Fraid so.


However misselling is usually only part of the story.Is their endowment projected to fail to pay off the mortgage? Post some info about it, as there are other things they can do to resolve the problem..

Provider
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
Maturity date
maturity projections
Interest rate payable on mortgage