collynn28

collynn28

This is going back to 1987 when i got an endowment mortgage with the Halifax, the endowment was with Legal & General. After a while i was told there would be a shortfall in my endowment at the end of my mortgage. When i took out the endowment there was no mention of it losing money, The only figure which was mentioned was there could be a lump sum of £14000. I appealed against the shortfall as i felt it was mis-sold,it went as far as the ombudsmen. They agreed i was mis-sold the mortgage and Halifax sent a settlement letter,but part of the agreement was i would have to start a repayment mortgage if i accepted it. They offered £8,000 and i still had about 10 years left on my mortgage, so even if i put the £8,000 down and took a repayment mortgage out the monthly payments were going to be way too high for me to afford and i didn't want to extend the time. I still get frustrated when i think about it and wondered if i could try again to get some compensation as i had to take a £5,000 loan out to pay the mortgage off at the end of 25 years.
  Regards
        Colin.

flashg67

I'm no expert, but I think you've missed the boat according to this info - https://www.fscs.org.uk/what-we-cover/endowments/?gclid=CjwKCAiAp5nyBRABEiwApTwjXrTeuBr3daKDw-ip3uNbX_tYZFEVzLSZU-QW_YwCs33aGm70vOkBPhoCcZUQAvD_BwE