Non Mortgage Endowment

moneygy

Hi,

There is a lot about claiming back mis-sold mortgage endowments but can you also make a claim about a mis-sold investment endowment? Many years ago I was sold such an investment & few years later convinced by their sales guy to pour more money into it. I had it for about 5 years before I investigated it fully & found that I had never made any money ever :mad:& stopped paying into it (hoping it would increase in value). Finally when I needed the money to buy a house I took it out of the investment & obviously lost money.

EdInvestor

Yes you can claim for misselling of a savings (non-mortgage) endowment or any other financial product.

dunstonh

can you also make a claim about a mis-sold investment endowment?

If it was mis-sold yes but the criteria is different. i.e. you cannot complain you should have been sold a repayment mortgage (which is what every mortgage endowment complaint is doing).

Many years ago I was sold such an investment & few years later convinced by their sales guy to pour more money into it.

Nothing wrong with that.

I had it for about 5 years before I investigated it fully & found that I had never made any money ever :mad:& stopped paying into it (hoping it would increase in value). Finally when I needed the money to buy a house I took it out of the investment & obviously lost money.

No grounds for complaint there either. These plans typically made little or nothing in the early years with most made in the later years. Stopping it after 5 years was your choice then cashing it in at a loss was also your choice.

The FSA dont allow complaints for performance (or lack of).