Help! Endowment redress advice?

stmidwife

Hi all,

Hope someone can help me. I sent a complaint to my endowment company just over a month ago and they have said I am entitled to redress:j . They have asked if I want redress calculations done either;

1) Using exact mortgage details - taking into account changes in lenders (N/A) and any special deals we may have had.

OR

2) the assumption method which assumes you had a standard variable rate.

Please can anyone advise me as to which is the best one to choose? I am a bit thick when it comes to this.

Thanks in advance.

dunstonh

Depends on your circumstances. Sometimes using the Halfiax SVR is the best option. Sometimes using your exact rate history is the best option. There usually isnt a lot of difference unless you have a large endowment.

Perhaps the easier way of deciding this is are you in a position to supply all the rates and dates of your mortgage since you took out the endowment? If not, then using the SVR is the simplier option.

stmidwife

dunstonh wrote: »

Depends on your circumstances. Sometimes using the Halfiax SVR is the best option. Sometimes using your exact rate history is the best option. There usually isnt a lot of difference unless you have a large endowment.

Perhaps the easier way of deciding this is are you in a position to supply all the rates and dates of your mortgage since you took out the endowment? If not, then using the SVR is the simplier option.

Thanks for your reply, I don't think I will be able to find all the info they require so i'll go the SVR route. Thanks again. :beer: