Mis Sold Endowment Policy

Endowment Mortgage Policy Misselling claim process. For further clarification contact us and one of our advisers will conduct a FREE REVIEW, before advising on the most suitable way forward for submitting your Mis Sold Endowment Policy Misselling Claim.

Endowment Mortgage Policy Misselling.

Endowment Shortfall Claim Process

The Financial Services legislation effectively introduced the Financial Ombudsman Service on 28th April 1988. It is important to establish when the policy was sold as different rules apply to those sold before 28 August 1988.

Should the Policy Provider now not be trading or has become bankrupt a complaint can be made to The Financial Services Compensation Scheme only for policies sold after the introduction of the legislation.

Policies sold before the legislation do not have the protection of the Financial Ombudsman or Compensation Scheme however many insurance companies, Banks and Building Societies have agreed to allow complaints about policies sold before April 29th 1988 to be dealt with by the Ombudsman.

The Financial Services Authority (FSA) requires life companies to complete their investigations within eight weeks but in practice due to a heavy workload these initial investigations can take considerably longer. If the Policy Provider makes the decision to refuse or repudiate the claim on the basis that the policy was not miss sold. It will then be necessary to make a complaint to the Financial Ombudsman Service, who will carry out further investigation to establish whether or not a valid claim exists.

We can and do enforce this eight week FSA guide line by automatically taking your claim on to the Financial Ombudsman Service Department. Normally within 3 to 6 months you will be in receipt of your offer of compensation.
More than half a million people have been compensated so far and there are millions more people who are suffering from the consequences and shortfalls of the plan that are yet to make a claim for compensation.

Compensation is calculated by comparing the paid interest, as well as the premiums and current surrender value of your endowment policy, with the capital repayments and mortgage interest the claimant could have paid on an alternative repayment mortgage and how much of that capital could have been paid off the mortgage.

Claim Mis Sold Endowment Policy Compensation