Disadvantaged, Mis-sold, Redress It is important that you become thoroughly conversant with the above three words that are regularly used in the context of the endowment scandal. As most endowments are worth less than they should be at this stage, it stands to reason that many people have been disadvantaged financially. As important as this may seem, it is much more important to decide whether or not you were advised correctly, according to the rules of the regulator, at the time you went ahead with your policy. The simple answer is if you have been financially disadvantaged as a result of being mis-sold, you are due redress (Third word above.) For those who are not thoroughly conversant with these words yet, this is the aforementioned compensation package that the FSA have introduced and could amount to many thousands of pounds. The idiosyncratic approach of using a non-guaranteed endowment policy or indeed any other stock market based investment to repay, what is probably your largest ever debt, is a UK only phenomenon. The alternative: The repayment mortgage contains such a guarantee of repaying your mortgage on time; Any suggestions to forsake this guarantee were a charter for financial disaster, as stock markets experienced a serious downturn (occurring now) and these products contain a significant investment in stocks and shares. The endowment mis-selling scandal is a tragedy for the nation and must now rank on a par (for completely different reasons however), with the negative equity trap of the early 90’s. In the worse case scenario, you could lose your home unless you take action now. We Charge a win fee of just 25% payable once compensation has been received by you from the insurer. Providing you have one of our free information packs and one of our Senior Claims Advisers has previously assessed your policy details, we will be able to proceed with your application immediately. All you need to do at this stage is to complete the agreement including your policy Number (if known) and send to: Morton Lloyd & Co Ltd, Po Box 3547, Chester CH1 9GD |
