This site is for information purposes only – we are not accepting any new cases from January 2007
Customers who bought Payment Protection Insurance (PPI) may have been mis-sold their policy according to The Competition Commission – 10th June 2008
Mis-sold Payment Protection Insurance (PPI) claims:
Use our PPI calculator to get a rough idea how much compensation you could be due.
If you believe you may have been mis-sold your endowment mortgage for a residential property and are left with a shortfall – you may be entitled to No win No fee compensation. It is strongly recommended that you act now to avoid missing crucial industry imposed deadlines.
Time is now running out for most policyholders.
There are more than 10 million endowment policies linked to mortgages in the UK. endowments were sold as a low cost, long term and supposedly “safe” method of paying off a mortgage. endowments combine interest-only property mortgage payments with an investment.
Throughout the term of the mortgage you pay interest on the amount borrowed to your mortgage lender and a monthly premium to your endowment policy. Very few people were warned of the risks involved with an investment of this kind.
Deadlines: You may already have been advised by your endowment provider that policy projections suggest your plan is not going to meet your mortgage loan.
Now is the time to act – before it is too late. You generally have only 3 years to claim from the time you receive your first “red” warning letter. You may be running out of time to claim –
Time barring is the number one reason why claims are rejected by the providers – don’t get caught out. Read our information pages on “Time Barring” “The 5 step guide”
The following is quoted from the Financial Services Authority website:
Key factors to consider if you are worried that your policy will suffer a shortfall and won’t pay off your mortgage:
Your financial advisor did not explain at the time of taking out the mortgage that the plan would invest on the stock market and the pay-out was therefore not guaranteed.
You were single and did not require the life insurance element of the endowment and the salesman failed to make it clear you were paying for this cover (some lenders would insist on this cover as a condition of providing the mortgage).
The endowment matures after your retirement date and the salesman failed to make this clear to you or told you that the policy would be worth enough at retirement to pay off your mortgage.
Or if the salesman failed to conduct a proper fact find to discover whether you would have sufficient income in retirement to meet the mortgage and endowment payments.
The salesman persuaded you to cash in one endowment and take out another.
The fees or charges involved were not fully explained to you.
There are a few interesting sites below where you can find out more about endowment complaints, bad advice or general problems with paying financial debts: Financial Ombudsmans official site – Financial Services Compensation Scheme – Professional negligence claims advice.
We also offer Payment Protection Insurance (PPI) mis-selling complaints information:
grounds for endowment complaints – endowment claim articles – endowment warning letters – endowment claim procedures – how long to claim endowment misselling – endowment claim success stories – endowment policy matured below target – armed forces endowment sales – endowment problems