Missold Mortgage Calculation choices

GeoH_2

I have been informed by my endowment supplier for my mortgage that my endowment will not meet it’s target.
The endowment supplier has agreed that I may have been missold.
They have asked what method of calculation I wish to be used to calculate any possible payout.
I would like any advice as to the best option to select.
The choices that I have are as follows:

1. Halifax Standard Variable Rates
2. Financial Ombudsman Service Repayment calculations.

The following is a breakdown of my circumstances at the time I took out my mortgage

Annual salary at commencement = Myself: £13,000.00 est. pre tax. Spouse: Nil
Start date: 15.04.1983
Loan amount: £20,000.00
First payment: 28.04.1983
Term: 25 years
Life cover required: No
Arrears: N/A
Capital gains option available: Yes
MIRAS: Yes limit £31,000.00
Lump sum payments: £4,000.00 - 19.11.97
£6,000.00 - 06.01.98
£6,000.00 - 18.01.02
£4,003.52 - 28.06.02
End of mortgage 23.02.2004

Any further details required to calculate the best option please advise?

All replies would be greatly appreciated and explanations etc.

Ta

George

dunstonh

If your mortgage rates over the term were generally a lot lower than the variable rate, then you will be better off using those rates. Endowments were cheaper with higher interest rates (than repayment mortgage) and vice versa.

However, you will need to supply the interest rates and dates for that calculation to be made.

GeoH_2

With regards my previous request regarding the best way to proceed with my endowment misselling claim.

I need to complete my forms!

I realise an accurate calculation would be time consuming and would require a lot of information from over the years.

But can anyone shed any light on what would be the best way to go?

1. Halifax Standard Variable Rates
2. Financial Ombudsman Service Repayment calculations

Has anyone read any reports or articles comparing Banks / Building Societies variable rates against the Financial Ombudsman Service Repayment calculations?

Otherwise it will be a toss of a coin and it could be an expensive wrong guess.

Any help or suggestions greatly appreciated.

Ta

George

dunstonh

But can anyone shed any light on what would be the best way to go?

Answered in my previous post.

Robert_Sterling_3

Which one do you want?
I would want the one that gives me the higher amount.