Miss-sold endowment

Quiet_2

I believe I was miss-sold my endowment in 1990, I was told I would not only pay off my mortgage but would have a lump some as well.

I did question this a couple of years ago when all this came to light, but I was told that my 3 year time period had run out, because there had been a warning in previous letters from them - such as :

"There may be a shortfall in your endowment - we recommend an increase in your payments"

Or something like that.

I ignored this as just another way of trying to make me increase my monthly payments and dismissed it with out giving it much thought at the time (stupid in hind site)

I think it was a very discreet way of notifying me without drawing much attention to the notification, I believe it should have been more specific and told me I could question the initial sale, which it didn’t.

Do I have any rights or available actions??

Thanks

dunstonh

think it was a very discreet way of notifying me without drawing much attention to the notification

You mean writing to you to let you know that your endowment has projections which has a significant risk of not hitting target (sometimes written in red) and telling you that if you wish to complain you have to do so by a certain date is not good enough? What about the multiple times they put that in writing to let you know?

Do I have any rights or available actions??

None at all. Once you are timebarred the only way to overule it is to have damned good reason why you havent complained before. Typically, the only time they accept these are long term hospital, mentally disabled individuals and where time bars have been applied incorrectly (dont get your hopes up on that one as that was quickly resolved).