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Advice Please !
ifor
Posts: 3 Newbie
My endowment mortgage matured in july 07. the insurance co.alerted me to this news in april 07 and asked me to fill in various forms which i duly did.
Come july, no funds were released and on enquiring i was told that the bank has not certified that they do not have any interest in this policy (I had cleared the motgage some time ago), and unless they do so they cannot release the funds they made further requests to the bank for this document (the bank and the insurance co belong to the same group). i continued to chase this matter up and in the end i involved my business manager with tyhe same bank who personally certified this and eventually the funds were released to me at the begining of Nov 07. They paid me an interest for the intervening period. I complained about this inefficiency and the company apologised for the delay and acceped that they have ben at fault and offered me £200 as a full and final compensation without accepting any liability and suggested that if i am not happy with this to get in touch with the ombudsman. What do i do? is this a fair compensation for depriving me of my funds for 4 months ? has anybody had any experience of the ombudsman ? any advice comments would be much appreciated. Thank you.
Come july, no funds were released and on enquiring i was told that the bank has not certified that they do not have any interest in this policy (I had cleared the motgage some time ago), and unless they do so they cannot release the funds they made further requests to the bank for this document (the bank and the insurance co belong to the same group). i continued to chase this matter up and in the end i involved my business manager with tyhe same bank who personally certified this and eventually the funds were released to me at the begining of Nov 07. They paid me an interest for the intervening period. I complained about this inefficiency and the company apologised for the delay and acceped that they have ben at fault and offered me £200 as a full and final compensation without accepting any liability and suggested that if i am not happy with this to get in touch with the ombudsman. What do i do? is this a fair compensation for depriving me of my funds for 4 months ? has anybody had any experience of the ombudsman ? any advice comments would be much appreciated. Thank you.
0
Comments
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Depends how much they deprived you access to for 4 months? Could you have earned more than £200 nett by investing the money? That should be your yardstick IMHO.0
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