Endowment Mortgage Compensation
Endowment mortgage compensation is fairly easy to obtain. Up to 5 million people are believed to have been missold an endowment mortgage policy.
The idea is that you pay only the interest and an investment called an endowment is supposed to grow enough to pay off the capital at the end. Most endowments however have failed to do this.
Endowment mortgage compensation has arisen due to the events in the 80’s and 90’s where many home owners were advised by salespersons to invest in an endowment policy to pay off their mortgage. An endowment as a repayment vehicle is a policy which provides life cover and is designed to pay off the mortgage and also provide a lump sum on maturity.
Such sales pitches were regularly banded about encouraging sales staff to sell endowments so as to maximise their commissions. Many of these sales advisers were badly trained and ended up selling an endowment policy to family, friends or even to themselves.
Quite often a capital repayment mortgage would have been a perfectly adequate repayment vehicle but commissions earnt on these were less. Many agents made their living by selling endowment policies, be it correctly or not.
You can help to stack the odds of winning an endowment mortgage compensation claim in your favour. The expertise in this field, together with the legal knowledge of the team of actuaries, has ensured the success rate remains consistently high.
Its then up to you to decide whether or not to pursue the claim if you feel you have valid grounds for complaint. And our charges only apply once a suitable offer of endowment mortgage compensation has been made.
About to surrender your endowment mortgage? Have you considered selling your endowment mortgage on the second hand traded endowment policy market? The policy must have a minimum endowment policy surrender value of £2000.In the majority of cases a better surrender value can be obtained on the traded endowment market, compared to that offered by your life assurance company. The difference can be as much as 35% more for your endowment policy.
You may be one of the 5 million people in the UK who was miss
sold their endowment policy, and it will cost you nothing to
find out. By simply filling out our online form we will assign
an expert in endowment compensation to review your endowment
complaint and with an average payout of £5000 for most
endowment claims, with a no win no fee service you've
got nothing to lose.