Endowment and Max Investment Plan

MartinW

Hi
I just wanted some advice on whether I have any grounds to complain about the selling of the following two policies even though they were some ago
1. Endowment policy - taken out in 1993 to go with a mortgage, it was obviousl that it was never going to repay the mortgage so I switched to a repayment mortgage and cashed in the endowment in 2003 - do I have any grounds to complain?
2. A Allied Dunbar Maximum Investment Plan - taken out in in 1998 and wasn't performing against expectations and cashed in some time in 2006?

Any help appreciated.

Thanks
Martin

EdInvestor

You can't complain on the basis of performance.If the sales ignored your attitide to risk you might have grounds.Did you get a "red letter" from the lifeco, if so when?

MartinW

Agreed on claiming regarding performance. It was a while ago and unfortunately I don't have all the paperwork, I do believe I received the warning that the endowment wouldn't repay the mortgage i.e red letter. However when I took out the mortgage broker I don't remember being given the options or asked about my attitude to risk. They had a mortgage in the estate agent when I signed for the property.

EdInvestor

MartinW wrote: »

I do believe I received the warning that the endowment wouldn't repay the mortgage i.e red letter.

If 3 years have elapsed since receipt of the letter, you are now out of time to complain.