Old Endowment mis selling case

stagey_2

Hi all - I am just wondering whether it's worth my while giving this another go. It took 2 years for L & G to say I didn't have a claim mostly because their admin at the time was so bad they confused two different policies - long story short - was refused (tho' it was sold to end after my retirement age) also ombudsman refused as it was sold around May 1988. I feel it was very badly handled. L & G say they didn't sell it to me but via an advisor - the whole confusion took for ever as I said and I feel it was very badly handled - Has anything changed.

dunstonh

long story short - was refused (tho' it was sold to end after my retirement age)

Whilst early complaints on endowments often were upheld on that basis, there was a lot of feedback given to the FOS that people were using it as an excuse and they would have still done the same term had they chosen repayment. Basically that excuse was abused by too many consumers. Nowadays you have to have concrete evidence that your retirement age was set earlier than the mortgage redempation age and if that age is before state retirement age, then you have to prove you can afford to retire early as well.

also ombudsman refused as it was sold around May 1988.

The FOS would only refuse to look at it if the application was signed prior to April 1988 and the firm had not voluntarily agreed to review complaints from before then.

L & G say they didn't sell it to me but via an advisor

That would also reflect the response you got from the FOS. ALthough it doesnt make sense that L&G gave a rejection on a complaint that they had no liability on or gave advice on.

Has anything changed.

No. You bought it pre-regulation and therefore have no right to complain using the FSA/FOS complaints proceedure.

stagey_2

thanks for response - yes I thought that would be the case hey ho! It was definitely sold to me to end at age 65 tho' - I'm 63 now!

thanks again