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https://forums.moneysavingexpert.com/discussion/222965/pre-1988-mis-sold-endowments
Jul 12, 2006 · As it is pre 1988 it is not covered by the current FSA legislation, but as far as I am concerned it was due to pay out in the region of £30,000, but it will be £11,000 if I am lucky. Also the maturity date is when I am 64 which is after my retirement date.
https://www.theguardian.com/money/2005/sep/28/expertsproperty.property1
Sep 27, 2005 · Q We took out a mortgage in 1984 backed by an endowment policy and then increased the loan backed by a second endowment policy in 1985. The sales advice is still clear in our minds - we were told that the mortgage amount would be guaranteed and the lump sum bonus would probably double that amount.Author: Guardian Staff
https://www.theguardian.com/money/2016/may/28/whole-of-life-insurance-policy-investment
May 28, 2016 · The FOS says that, although many endowment and pension complaints pre-date 1988, it may have the power to adjudicate under its “compulsory jurisdiction” rules.Author: Patrick Collinson
http://news.bbc.co.uk/2/hi/business/3773021.stm
Jun 07, 2004 · I bought my policy before 1988. Is there anything I can do? Regulation of these products was first introduced and a compensation scheme created in 1988. This provided more stringent rules for how a product should be sold. The FSA's position on complaints against policies sold pre-1988 is that firms should look at all complaints and handle them fairly.
https://blogs.thisismoney.co.uk/2005/11/how_to_win_endo.html
Nov 29, 2005 · The answer: simply write a basic letter of complaint to the endowment provider. Some people have been using endowment compensation companies. Don't touch with them a barge pole. Insurers treated all endowment complaints the same but if you use a middleman they will charge you anything from 15% to 40% of any payout - potentially thousands of pounds.
https://www.thisismoney.co.uk/money/mortgageshome/article-1583978/Endowment-mis-selling.html
If you took out your endowment through a financial adviser before 29 April 1988 you may be caught in a black hole because there was no regulatory protection. However people sold endowments by...
https://www.citizensadvice.org.uk/Global/Migrated_Documents/advisernet/11014505-ewsni-endowment-mortgage-complaints-pdf-5.pdf
An endowment policy includes life cover to repay the mortgage if you die early. If you stop the endowment and need life cover, you’ll need to make other arrangements. If you get compensation, consider using it to reduce the amount you owe on your mortgage.
https://www.which.co.uk/consumer-rights/advice/how-do-i-complain-about-a-mis-sold-endowment
There is of course, a possibility that both the firm and the Financial Ombudsman Service will reject your complaint. But, the complaints process is free so if you strongly believe you were mis-sold your endowment there's no reason you shouldn’t proceed. As a consumer you can also take your complaint …
https://www.fscs.org.uk/what-we-cover/endowments/
Endowments. An endowment policy is a regular savings plan that will pay out a lump sum at the end of its term, or if you cash it in early, or on the policyholder’s death. If you think you’ve been mis-sold an endowment policy, and the adviser or firm that sold you the policy no longer exists, we might be able to help you claim compensation. To be...
https://www.telegraph.co.uk/finance/personalfinance/money-saving-tips/10369486/12-reasons-the-Ombudsman-wont-investigate-a-financial-complaint.html
Oct 10, 2013 · 12 reasons the Ombudsman won't investigate a complaint The Financial Ombudsman Service, FOS, is the biggest ombudsman service in the world, however, there are some scenarios the FOS won't help with.
https://www.independent.co.uk/money/insurance/new-17bn-endowment-scandal-90782.html
The issue of how to resolve pre-1988 cases has become a serious problem only recently after a growing number of 1980s endowment policyholders began to get warning letters that their policies may...
https://www.financial-ombudsman.org.uk/faqs/all/complaints-mortgages
When we look into complaints about mortgages we consider what's gone wrong and why - for example, if the lender incorrectly calculated the mortgage repayments. If we decide something's gone wrong, we'll also consider whether someone's lost out as a result - and …
https://www.handbook.fca.org.uk/handbook/DISP/1/4.html
Mortgage endowment complaints DISP 1.4.5 G 06/04/2008 RP DISP App 1 contains guidance to respondents on the approach to assessing financial loss and appropriate redress where a respondent upholds a complaint concerning the sale of an endowment policy for the purposes of …
https://researchbriefings.files.parliament.uk/documents/SN00570/SN00570.pdf
In 1988, 83% of new mortgages were endowment linked. Typically, a house buyer would organise an interest-only mortgage with one lender and then take out a matching endowment policy with an insurer which it was hoped would, upon maturity, provide sufficient funds for the mortgage to be repaid.
https://www.moneymarketing.co.uk/opinion/the-fsa39s-endowment-approach/
You raised in your letter the question of policies sold before the regulatory regime came fully into force, i.e. pre-April 1988. The vast majority of pre-A day mortgage endowment complaints already...
https://www.consumeractiongroup.co.uk/topic/34287-help-with-endowment-shortfall-please/
Feb 07, 2007 · This means that complaints concerning endowments that were taken out before April 1988 will be dealt with in the same way as all other endowment mis-selling complaints, so you shouldn't have a problem. However, smaller firms, like IFAs, are unlikely to have signed the agreement and so need not deal with pre-April 1988 complaints at all.
https://www.investopedia.com/articles/insurance/10/avoid-modified-endowment-contract-traps.asp
A modified endowment contract (MEC) is a life insurance policy whose benefits go past the federal tax law limit. The IRS taxes withdrawals under a modified endowment contract are similar to non ...
https://www.telegraph.co.uk/finance/4493631/Dont-be-too-late-to-complain-The-time-to-seek-redress-for-a-mis-sold-endowment-mortgage-is-running-out-writes-Teresa-Hunter-Its-not-like-buying-a-washing-machine-that-doesnt-work.html
Oct 20, 2002 · But none of this applies to complaints about events before 1988 - unless a company volunteers to deal with a dispute on a pre-1988 basis. But such companies can …
https://www.moneyadviceservice.org.uk/en/articles/mis-sold-endowment-mortgages
Do you think you were mis-sold an endowment mortgage? There is a time limit for borrowers who want to make a complaint and it is running out, so you need to act now. You might feel you were mis-sold your endowment mortgage if it was not suitable for your needs and circumstances. However, you can ...
https://www.moneymarketing.co.uk/analysis/endowment-timing/
Advisers who advised upon endowment policies after April 29, 1998 have a regulatory obligation to consider the complaint and deal with it under the rules of the Financial Ombudsman Scheme. It is...
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