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  • FIRST POST
    • JeanJeannie52
    • By JeanJeannie52 5th Mar 18, 9:27 PM
    • 6Posts
    • 0Thanks
    JeanJeannie52
    Endowment Misselling
    • #1
    • 5th Mar 18, 9:27 PM
    Endowment Misselling 5th Mar 18 at 9:27 PM
    Looking for advice please have tried to find an answer but no luck yet so hoping someone on here can help.

    When we bought our house in 1998 we took an endowment mortgage. We where never told there could be a short fall. We took it out with Abbey National, my partner died in 2002 and the mortgage got paid off. Before this happened I had to keep paying the mortgage till all the paper work was done. The last time I went into pay the mortgage they told me there was a short fall and I would have to pay it which I did.

    The amount was 600 so many pounds and pence what I'm trying to find out is if I can reclaim anything as they paid off the mortgage?
Page 1
    • dunstonh
    • By dunstonh 6th Mar 18, 2:06 AM
    • 92,620 Posts
    • 59,937 Thanks
    dunstonh
    • #2
    • 6th Mar 18, 2:06 AM
    • #2
    • 6th Mar 18, 2:06 AM
    I'm trying to find out is if I can reclaim anything as they paid off the mortgage?
    No. The endowment did its job. And you likely saved a few pounds in the process too.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Edi81
    • By Edi81 6th Mar 18, 8:27 AM
    • 450 Posts
    • 311 Thanks
    Edi81
    • #3
    • 6th Mar 18, 8:27 AM
    • #3
    • 6th Mar 18, 8:27 AM
    You!!!8217;ve owned a house for the past 16 years with no mortgage.
    You!!!8217;ve made more than the 600 outlay that you had to make.
    Get off the misselling bandwagon.
    • JeanJeannie52
    • By JeanJeannie52 6th Mar 18, 10:22 PM
    • 6 Posts
    • 0 Thanks
    JeanJeannie52
    • #4
    • 6th Mar 18, 10:22 PM
    • #4
    • 6th Mar 18, 10:22 PM
    sorry for asking !
    • dunstonh
    • By dunstonh 6th Mar 18, 11:32 PM
    • 92,620 Posts
    • 59,937 Thanks
    dunstonh
    • #5
    • 6th Mar 18, 11:32 PM
    • #5
    • 6th Mar 18, 11:32 PM
    You dont need to apologise. However, if you look at what you asked, it may help you understand the responses.

    You got 100% of the mortgage paid off within 4 years of starting it. It didn't fall short. It would have been cheaper than repayment basis. Yet you are asking for compensation. It comes across as compensation chasing for no valid reason.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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