Endowment shortfall? You may be entitled to compensation!
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Do you have a shortfall in your mortgage endowment? Do you have an Endowment saving plan (MIP) that you are unhappy with?
Have you received a warning letter or are worried that your policy will not pay off your mortgage? Of the million policies in the UK over 70% will not provide enough funds to repay the mortgage debt.
This will leave these homeowners to find on average an extra £7000.
It is estimated that over 5 million policy holders should not have been sold their endowment and are due compensation.
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What is the Problem?
The biggest problem was that salesmen received very high levels of commission for selling an endowment.
Customers were not always warned that their endowment depended on investment returns & did not understand that the endowment may be insufficient to repay their mortgage
As stock market performance has declined, lower returns means that endowments may not reach their target amount
Our experience in obtaining compensation highlights concerns over the suitability, affordability and your attitude to risk repaying your mortgage.
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Key Questions:
Were you told there was a guarantee or that there might even have been a surplus?
Were you told you needed life cover?
Were you told that this was an investment?
Were you told about the risks associated with the investment?
Were you told that your policy may be linked to stock market performance?
Were you told that the policy may not allow you to pay off all of your mortgage on maturity?
Does your policy mature after you retire?
Could you really afford it?
What should I be doing about this shortfall?
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Act now by phoning The Endowment Compensation Helpline, and leave the rest to us. Our expert consultants will manage your complaint through the maze of red tape and big firm bureaucracy to obtain maximum compensation available. If necessary we will take your complaint all the way to the Financial Ombudsman.
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Any help given will be on a NO WIN, NO FEE basis. For a free informal chat or meeting about your situation and to establish if you are entitled to compensation please call or contact us on: 0870 220 9363