Endowment claim - how much?

stpandp

Like many, we have now had our endowment mis-selling (via Halifax/Std Life) upheld. We have received a letter from the Halifax asking us which method they would like us to use for the calculation; either to use their rates through the life of the mortgage, or to use the companies we were with. We had 8 years (from 1987) with them, and took a mortgage "holiday" until 2003 and have had a mortgage ever since.

1) Can they ask us to make this choice?
2) How do we work out which might be best?

Any advice appreciated

fifeken

They can ask you to make this choice, but if you are like me, you won't know all the different rates you have paid between 1987 and now. Sorry, wouldn't know where to start working out the better one.

Kantankrus_Mare

I have just sent back my form for claiming compensation on an endowment which was sold by Halifax for a Standard Life Policy.

They told me they were only the "agents" at the time and refered us back to Standard Life to complain.

Im not sure how Standard Life work out (if they pay out!) how much to compensate but I've just had another complaint upheld by Nationwide and received 2500 compensation, paid straight off my mortgage... excellent service!!

stpandp

Kantankrus_Mare wrote:

I have just sent back my form for claiming compensation on an endowment which was sold by Halifax for a Standard Life Policy.

They told me they were only the "agents" at the time and refered us back to Standard Life to complain.

Im not sure how Standard Life work out (if they pay out!) how much to compensate but I've just had another complaint upheld by Nationwide and received 2500 compensation, paid straight off my mortgage... excellent service!!

Certainly with our upheld complaint it has all been dealt with by the Halifax

EdInvestor

For endowments sold before 1988, Halifax will pay, after that Standard Life is responsible.The change relates to the introduction of financial market regulation.