Questionnaire

gmatwork

Can anyone offer me advise on the following please? I recently sent the ‘Which’ letter to two companies, NU and Standard Life, with whom I have endowment policies that are underperforming and where I think I was mis-sold the policies.

NU has referred me to Barclays Wealth who sold me the policy and they have sent me an eleven page questionnaire to complete.

My concern is that Barclays state on the page that you sign and return with the form:

“I understand that where I have not provided information, assumptions may have to be used to calculate any offer that may be due. I understand that this could result in a lower or higher offer being made than if the actual information was used”

It occurs to me that by completing the form I could inadvertently give them information that they could use to reduce or refuse any compensation. Also I don’t actually need the policy to pay off the mortgage it was originally taken out to cover, but I do have a current repayment mortgage. They ask questions about my mortgage situation, but surely this has no bearing on whether the policy was mis-sold or not?

Any advice gratefully received, thanks.

dunstonh

They ask questions about my mortgage situation, but surely this has no bearing on whether the policy was mis-sold or not?

It doesnt. However, it does have an impact on the calculation for redress should the complaint be upheld. As does your ability to provide factual data on the rates and dates of your mortgage. Most people dont have a rates and dates history so the standard variable rate is often used in these cases. That is quite normal and acceptable.

The fact are you are not timed out already on the NU plan suggests that it isnt a bad one. Have you actually worked if there is a real shortfall rather than a paper one? Worth doing the same for SL as well as they tend to under project as well.