UK MIS SOLD ENDOWMENT ADVICE

Is there a time limit that relates to when mis sold endowment claims should be made?

The rules indicate that a claim can be repudiated by a seller if the claim is not intimated within 3 years of the policy holder being informed of a potential and anticipated shortfall. Insurance companies are required to send information regarding the status of a policy to their clients every two years by way of a colour coded ‘re-projection letter’. A ‘red letter’ indicates a ‘high risk’ of a shortfall and triggers the right under the The Financial Services Authority rules to make a claim but it also starts the three year clock ticking. There are certain more unusual circumstance where the time limit can be extended and not all insurance companies take issue with late submissions. Because of these uncertainties it is important to take mis sold endowment advice at an early stage to help guide you through the complexities of these claims.

What is the procedure for making mortgage endowment claims for compensation?

An initial complaint providing as much information as possible including the grounds of the claim should be made to the seller of the policy either in writing or on the telephone. The insurers will consider all of the information and send a decision in writing as to whether or not they accept liability. In the event of liability being disputed or an inadequate offer of settlement being made the claim can be referred for review to the Financial Ombudsman Service. In the event that the seller of the policy is bankrupt or no longer in existence an application for compensation can be made to The Financial Services Compensation Scheme which is a fund of last resort. In the event of a sale by a solicitor an application can be made to the relevant law society if the claim is refused.

Is the decision of the Financial Ombudsman Service final?

The Financial Ombudsman Service’s decision is binding on the insurance company but not on the individual until that decision is accepted by the individual. If the individual is not satisfied with the decision of the Financial Ombudsman Service then the individual still has the right to take legal action in a court of law.

What are your charges for representing me?

Our mis sold endowment claims are completely risk free and we make no charge whatsoever if the claim is refused. We charge 20% of the compensation recovered as a result of a first application to a broker, insurance company or solicitor and that figure includes all expenses and VAT. We charge 25% of any sum recovered as a result of any application made to the Financial Ombudsman Service or the Financial Services Compensation Scheme or to any of the regional Law Societies and that sum includes all expenses and VAT.

We represent an independent network of qualified actuaries, lawyers, financial advisers and insurance experts who work together as a specialist team to settle mortgage endowment claims against life companies, solicitors and insurance brokers. Our professionals only deal with endowment shortfalls on a risk free no win no fee basis and if the mortgage complaint is unsuccessful for any reason they will make no charge whatsoever. We will not ask you to fund or finance your application in any respect and you will not have to buy insurance or take out any loans. Our clients never pay any charges unless the claim is settled successfully. If you would like to speak to a specialist just complete the contact form or call the helpline and one of our experts will discuss your potential claim without any further obligation.