UK MORTGAGE ENDOWMENT COMPLAINT
CLAIMS ADVICE
We are a specialist company that provides advice and representation in mortgage shortfall claims. We are able to asssist you with your claim, draft a formal endowment complaint letter and negotiate settlement on your behalf. We use a no win no fee scheme to ensure that there is no risk and we guarantee that there are no expenses to pay as the claim proceeds. If the complaint is unsuccessful we will not make any charge whatsoever. Our clients never pay any charges unless the claim is settled successfully. We offer the opportunity to discuss your claim with an expert at no charge and with no further obligation, and if you decide to proceed no further then we will not charge you for the advice. If you would like to take advantage of our experts just complete the contact form and a specialist will phone you as soon as possible.
To initiate endowment claims it is necessary to send a formal endowment complaint letter to the seller of the insurance policy. The letter should contain allegations of miss selling rather than arguments about the extent and value of the loss to the fund which can be established later after an admission of liability has been received. The letter must also contain basic identification information including the anticipated maturity value, the insurance company, the date of the policy and its number and the name and address of company who employed the adviser who sold the policy.
Within a reasonable time after receipt of the endowment complaint the insurers must consider the application and give a judgement as to whether or not they will pay endowment compensation . If they agree to pay compensation then the matter is negotiated to a conclusion with a right to have the amount of compensation determined by the Financial Ombudsman if agreement cannot be reached between the parties.
Not all complaints are upheld by the insurance company and if compensation is refused then there is a right of appeal to the Financial Ombudsman however many are rejected on appeal.
It is likely that the company will in due course ask for more information once they start to investigate the claim and to succeed an applicant needs to show that poor advice was given including allegations of miss selling which may be covered by the following points :-
- were you told that an endowment policy might not pay off the mortgage
- were other methods of repaying a mortgage discussed
- did you know or were you told that a policy might give a low return if cashed in early
- were you advised about the administrative costs of the policy
- was stock market risk discussed
- were you told that investments can go down as well as up
- did you discuss future finances if the policy was due to run into retirement
- were you told to cash in an existing endowment policy to take out another one.
