I have written a letter to my endowment provider as I was missold my policy, I have now received a form from them asking for additional information. There are not many questions and they seem straightforward enough. However there is a large section for 'additional information'.
Is there something I should be putting in here to ensure that my complaint is taken seriously? Suggestions on wording would be great.
Many thanks
In message , coolcats writes
To help we need to know the reason why you feel you were missold an endowment.
Hi John,
This was my first mortgage and the advisor led me to believe that by taking out an endowment I would pay off my mortgate early with money left over. At the age of 21 this seemed like a great offer. There is no chance this will cover my mortgage. I have since moved house and changed to a fixed term deal. For the time being I have kept my endowment running.
Thanks
That was almost standard practice I believe, the raison d'etre for endowments. In reality the statement is going to be proved wrong, and if there is any justice you should get compensation on that basis. The endowment compensation issue is discussed here regularly see .
The independent Consumers Association service might be worth a look - and their Which? magazines at the local library and online will give you an overview of the process.
hth
Daytona
In message , coolcats writes
Did he give you any hint that there was the faintest chance of it not repaying the mortgage?
Do you have any dependents? Was it a Joint mortgage?
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.