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Found missold endowment policies

asp9990
Posts: 2 Newbie

Hi,
I have been emptying my loft and found mortgage endowment policy documents from 1996. I only paid the endowment for a short while and the guarantee was for £33,000 . I have looked at Martin’s website and see that claims for missold endowment policies has closed except for exception circumstances!
I have been emptying my loft and found mortgage endowment policy documents from 1996. I only paid the endowment for a short while and the guarantee was for £33,000 . I have looked at Martin’s website and see that claims for missold endowment policies has closed except for exception circumstances!
I did approach my building society the Nationwide Building Society at the time claims via being sort but was told without the policy number it was a lost cause. However, I do not have a record of the time or date when I rang them.
Would I still be able to pursue a claim which was through the Guardian Finance Services.
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Comments
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Why do you think it was missold?0
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First question is whether you were missold. Second question is whether you are worse or better off as a result. Given 25 years have passed, the common duration of an endowment policy, an exact calculation can be made.I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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I have looked at Martin’s website and see that claims for missold endowment policies has closed except for exception circumstances!There has been no time barring on endowment complaints apart from the standard timebars.Would I still be able to pursue a claim which was through the Guardian Finance Services.Almost certainly not as you would be timebarred.
The standard timebar is to complain within 6 years of the sale or surrender or within 3 years from being reasonably aware of an issue.I only paid the endowment for a short whileAnd that is going to be your trigger that allows them to time bar it. Plus, unlike policies that ran full term, if yours only went for a short period, its not as if you are likely to be out of pocket.I did approach my building society the Nationwide Building Society at the timeIIRC, At no point was Nationwide an agent for Guardian. So, they wouldn't have liability anyway. It would be the seller of the policy (perhaps estate agent or broker/adviser). However, its not really relevant given the time that has passed.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.4 -
TadleyBaggie said:Why do you think it was missold?0
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asp9990 said:TadleyBaggie said:Why do you think it was missold?0
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asp9990 said:TadleyBaggie said:Why do you think it was missold?
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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