Mis Sold Endowment Policy

Endowment Mortgage Policy Misselling complaint grounds. 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 Complaint grounds

Time bar

Time generally starts running once the company has informed a customer, in writing, of a potential shortfall in the format of a 'red' letter known as a 'shortfall announcements letter'. Life companies are very efficient in dealing with these letters as it is in their interests to ensure that the clock starts running in order to preclude a potential endowment mis-selling claim as soon as possible by allowing the relevant time limit to expire.

The general rule is that a claim must be instigated within 3 years from receipt of the first 'red' shortfall announcements letter. These complicated regulations may affect your right to successfully claim compensation and you should take qualified advice at an early stage and certainly immediately following receipt of any correspondence warning of a potential shortfall.

Sold / Surrendered policy

Even if you have already sold / surrendered your policy or ceased payments or converted your mortgage to a repayment method but still have the endowment as a savings policy you can still make a claim if you received less than professional advice when you took out the policy. Our advisers are able to guide you through the technical difficulties of making a claim and only charge if they succeed in recovering compensation.

IFA pre 28th Aug 1988

Any Independent Financial Adviser (IFA), who sold you a policy before the 28th August 1988 would not have signed the voluntary jurisdiction letter and therefore a claim against them, would probably not succeed.

FSA pre 29th April 1988

Most Insurance Companies, Banks and Building Societies signed a voluntary jurisdiction letter in 1988 allowing the FSA 1988 rules to be used on those policies sold by these companies prior to 1988.

If you were sold an Endowment Policy before 29th April 1988 by the Insurance Company Representative, a Bank or Building Society, we can make a Mis-selling claim against the Policy Provider who will use the same claim guidelines as if you had purchased the policy after 29th April 1988.

Legislation introduced in 1988 draws a distinction between policies take out before or after the legislation came into effect. If the company fails to resolve the issues then the Financial Ombudsman can in certain circumstances become involved.
 

IF YOU HAVE HAD A RED OR AMBER RE-PROJECTION LETTER YOU SHOULD CONTACT US AT ONCE FOR ADVICE ON YOUR POSSIBLE CLAIM.