We deal with endowment compensation claims on a no win no fee basis and if the complaint is unsuccessful we will not make any charge to you. Our claims are completely risk free and you will not have to fund or pay for any expenses during the claim. If you would like free advice on the telephone, without obligation, just complete the contact form.
We are a founding member of the Claims Standards Council which is independent from the claims industry and seeks to ensure that that its members deal with consumers on the basis of decency, probity and fairness by :-
- vetting individuals and organisations seeking membership
- compliance with a transparent, thorough, end-to-end process for handing claims
- operating independent complaints and discipline arrangements
Most insurance policies intended to be used to pay off mortgages which were sold before the beginning of 2000 were mis-sold. Individuals who have lost out financially may be able to recover their losses by making miss sold endowment claims against the seller if they are able to prove that they have suffered financially as a direct result.
A mis-sold mortgage is legally defined as one that was not sold in accordance with the rules set out by the regulator which is the Financial Services Authority (FSA). These rules are intended to protect consumers of financial products and services from being misled or inadequately advised. The rules regulating the insurance industry are complex and we can help by assessing whether the selling went against these regulations.
The root of this problem lies in the fact that these insurance policies depend on the investment of monthly premiums by the life companies creating a sufficiently large fund to pay off the mortgage at the end of the term, however because of the underperforming Stock Market the majority of policies have failed to achieve this and as a result many homeowners have been left with little financial stability.
The holders of most current policies will be eligible to make a claim and even if you have changed to a repayment mortgage within the last three years, or if you have sold or surrendered a policy you may still be able to make an endowment compensation claim.
The FSA has judged that misselling is caused by a confusing or inadequate level of communication by the company who sold the policy to the client. Therefore they have put the responsibility for endowment compensation on the point-of-sale company. Once the misselling has been proved this company must reimburse the victim to cover the losses they suffered which should enable a policy holder to transfer to an equivalent mortgage repayment programme without suffering financially.
Experts believe that the majority of these policies sold in the 80s and 90s were mis-sold and that in total there are over 6 million prospective claims throughout the country. If you have received a ‘Red’ letter warning you of a definite shortfall risk within the last three years it is highly probable that you have been mis-sold an insurance policy and you should contact us as soon as possible. There are time limits and delay can ensure that the opportunity to claim is lost forever.
If you were not properly informed that your policy might be unable to pay off your mortgage at the time of sale, then you are justified in making miss sold endowment claims. There are other potential grounds upon which compensation can be based and if you are in any doubt about your right to claim we will give you free expert advice without obligation.
