Endowment

jdapj · 7 January 2019 at 5:18PM

I hear so much about ppi but I feel extremely annoyed that we were ripped off with our mortgage We paid forever and still it wasn’t enough! We took on a mortgage not a loan to me they are different lol
Supposed to have a nest egg at the end Shame on them

I rang s compay that dealt with ppi they tried and the heart of England said no Oh well there you go

Everyone getting money back off the banks I take my hat off to you

antrobus · 7 January 2019 at 5:55PM

jdapj wrote: »

I hear so much about ppi but I feel extremely annoyed that we were ripped off with our mortgage We paid forever and still it wasn’t enough! We took on a mortgage not a loan to me they are different lol
Supposed to have a nest egg at the end Shame on them

I rang s compay that dealt with ppi they tried and the heart of England said no Oh well there you go

Everyone getting money back off the banks I take my hat off to you

Heart of England? The former building society?

P.S. A mortgage is a loan.

Nasqueron · 7 January 2019 at 6:10PM

jdapj wrote: »

I hear so much about ppi but I feel extremely annoyed that we were ripped off with our mortgage We paid forever and still it wasn’t enough! We took on a mortgage not a loan to me they are different lol
Supposed to have a nest egg at the end Shame on them

I rang s compay that dealt with ppi they tried and the heart of England said no Oh well there you go

Everyone getting money back off the banks I take my hat off to you

People are simply getting their own money back many years later, the banks have had the cash for plenty of years and the interest element, while a sort of compensation, is still money they could have earned and used themselves.

If you took out an endowment policy and it was running low, why didn't you take action when the warning letters came?

Did you have PPI?

Them rejecting the complaint means they didn't see any miss-selling (assuming you had it) so why did you feel you were miss-sold?

dunstonh · 7 January 2019 at 6:44PM

Supposed to have a nest egg at the end Shame on them

You are not supposed to have anything.

Everyone getting money back off the banks I take my hat off to you

That is in respect of PPI. They are getting money back they paid. You havent mentioned any PPI. So, if you didnt have PPI, then there is nothing to refund if it was classed as missold.

jdapj · 8 January 2019 at 3:00AM

I agree- people should get their money back :-))
More the better
As far as I was aware I took out my endowment and it paid off my mortgage and gave me the same amount back as a lump some
By the time a shortfall was shown interest rates had soared and I had no chance of top up.
People who have been on minimum wages all of their working lives have very little cash I’m afaid. We might get our hands dirty however in the muck we wipe there is no gold haha

dunstonh · 8 January 2019 at 10:04AM

As far as I was aware I took out my endowment and it paid off my mortgage and gave me the same amount back as a lump some

The majority of endowments ever taken out paid big surpluses on maturity. However, the change to a low inflation, less boom/bust economy hit endowments hard. However, we all benefitted from that change as it increased house prices quicker and reduced mortgage payments.

By the time a shortfall was shown interest rates had soared and I had no chance of top up.

Shortfalls started to appear around 2000. After the period of very high interest rates. And for the last decade, interest rates have been extremely low. Its been a great time to have a mortgage.

Endowment

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