Mortgage Endowment Complaint - Mis-sold

harrowBoy

I wonder if you could help me on this guys,,,

I took the endowment in 1997 from Abbey National Life.

Target Value: £86300
Policy Taken: Oct 1997
Term: 25 Yrs (still in force)
Provider: Abbey National Life
Shortfall: £25K - £30K

After reading the Martin's article I thought its very good news so I made the complaint to Abbey straight away. They sent me the form and I completed the long painful questionnaire and sent it back to them.

Two weeks later I received a letter saying my complaint had been rejected on the basis on "out of time" and they also quoted I have been receiving re-projection/short fall information since year 2000.

I didn't realise I could claim the compensation then!!!

They also ask me to refer this to the Financial Ombudsman service if I'm dissatisfied with the outcome. Of course :mad:

I'm wondering if anyone had this kinda experience and how can I progress on this to claim the compensation. Mush appriciate if you could share your knowledge on this???

Thanks you so much in advance

EdInvestor

harrowBoy wrote: »

Two weeks later I received a letter saying my complaint had been rejected on the basis on "out of time" and they also quoted I have been receiving re-projection/short fall information since year 2000.

The timebar comes down 3 years after you receive a "red traffic light" letter which states there is a "high risk of shortfall".

Have you received one of these, if so,when?

dunstonh

I didn't realise I could claim the compensation then!!!

Are you saying that you are only putting in a mis-sale complaint because you want to jump on some bandwaggon to get some "free" money?

I'm wondering if anyone had this kinda experience and how can I progress on this to claim the compensation. Mush appriciate if you could share your knowledge on this???

Game over. Once you are timebarred thats it. The only way you will get a time bar overuled is if you find fault in the time bar (i.e. not 3 years from first high risk of shortfall statement) or you have been in hospital for the last 3 years (or similar).

Going to the FOS to ask them to overule the time bar because you didnt know that you could get compensation will not go down well and they will not overule on that.

harrowBoy

Yep!

I reveived them around June 2003

harrowBoy

Looks like I missed the boat then :-(

Even going to FOS wont be that much help