UK ENDOWMENT MORTGAGE MIS SELLING

We deal with endowment mortgage mis selling claims on a no win no fee basis and if the complaint is unsuccessful we will not make any charge to you. Our endowment compensation claims are completely risk free and you will not have to fund or pay for any expenses during the course of the claim. Our clients never pay any charges unless the claim is settled successfully. If you would like free financial 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

In order to claim compensation it is generally necessary to start the claim within three years of receipt of a letter warning of a potential shortfall. Some insurers including Legal & General and Prudential have chosen not to enforce the time limitation regulations, and at the moment, claims can be made even if the The Financial Services Authority (FSA) time limits have expired, however this may not always be the case with these and other insurers who are willing to consider compensation outside the time limits. Lloyds TSB, Standard Life, Friends Provident and Norwich Union are amongst the larger insurers that refuse to extend the three year time limit set out by The Financial Services Authority (FSA) and customers could lose out on tens of thousands of pounds in compensation if they fail to comply with the strict time limits.

Policy holders of the firms which do impose a time limit who believe they have a claim for compensation, must make a formal written complaint to the insurance company concerned within three years of receiving a "red" letter warning of a high risk of a shortfall. The The Financial Services Authority (FSA) rules indicate that a reminder letter must also be sent by the insurer to their customer six months before the time expires for the time limitation to take effect. Those in receipt of ‘amber’ letters which merely indicate that there are some concerns that the policy may not be on target to produce the required amount on maturity or those in receipt of a ‘green’ letter which means that the fund is satisfactory need take no action.

The current financial regulations require that the 'point of sale' company re fund any losses to the policyholder and whether or a policy has been missold depends on the policyholder proving that the policy was not sold in accordance with the financial regulators rules.

Endowment mortgage mis selling probably applies to considerably more than half of all of the relevant policies sold to date but only 6% of policyholders have so far lodged complaints and 700,000 people have already lost their right to claim compensation because they have missed the deadline. It is anticipated that about 6,000,000 policies could be the subject of a mis-selling claim in the future provided that the policyholders comply with the regulations relating to the time within which a financial complaint must be made.