Get Compensation For Missold Endowment Selling

Claim Compensation Now on Endowment Misselling

In case you own an endowment mortgage and it has suffered a loss, then chances are high that you were missold the endowment. You can claim a huge compensation if you were subject to endowment misselling.

What is an endowment?

• An Endowment mortgage is an arrangement made on interest-only basis, the capital is to be repaid by an endowment policy.
• The borrower pays to the lender only the interest on the borrowed sum.
• The borrower also pays an endowment policy, making an investment sufficient to repay the capital at the end of the loan term and create a surplus as well as profit.
• The borrower has one arrangement with the lender and another with the insurance provider for the endowment policy.

Why is there endowment misseling?

• In the UK there have been many cases of endowment misselling leading to significant losses of the customer’s money and media attention on the subject.
• In the endowment policy, a consumer’s money is invested into shares, bonds, and property.
• It is rather difficult to work out how well the policy is going to pay.
• The high promises of most policy sellers often are lower than expected
• Many consumers have ended up with a shortfall.
• Endowment misselling may mean consumers will not get your lump sum profit
• Endowment misselling may mean the money consumers put into the endowment is lost and you cannot even pay off the mortgage with the payout.

Can you complain about endowment mis-selling?

Unfortunately, you can complain only about the advice you received when you purchased the policy, you cannot complain about its performance or the shortfall you have. Here are the grounds on which you can make a refund claim for endowment misselling:-

• If your adviser did not ensure that depending upon your financial condition at the time of taking the loan, an endowment was the best procedure for you to repay the mortgage.
• Consumers may be able to can a claim a refund for endowment misselling if the advisor did not fully discuss other options for repaying the mortgage.
• The consumer was not explained in details about how your endowment would be invested and the risks involved.
• The consumer was not told that endowment plan is a long-term commitment and if you want to cash in early it is likely to give you poor returns
• The adviser failed to ensure whether you were okay with the inevitable ups and downs of the stock market.
• It should have been made clear that the amount you will gain will depend upon the performance of the policy.
• If the consumer can prove that the advisor claimed that the policy was guaranteed to pay off your mortgage without doubt.
• ven if the consumer cannot provide written proof of this claim, include it in the complaint letter any way because it may strengthen your case.
• If the consumers endowment mortgage was set up to extend beyond your expected retirement age, yet your adviser did not confirm if you would have sufficient income to continue paying the endowment premiums even after retirement.

If any or all of these are true in your case, you have grounds to claim and obtain a refund of your endowment charges.

If you’re not sure what do to next – get in touch with us. We should be able to sort out which company is involved and pursue then for compensation.

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• We will handle your case from start to finish

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