LB4

Anyone here used a third party to claim for compensation with regards to an endowment policy or have you claimed yourself?

I have 2 policies with different companies, totalling 69K that have been running for 8 and 13 years. I have been told that there is going to be a short fall on both of these when they mature , and having read about claiming compensation i thought it might be a good idea to use a company that specialzes in this as i hate paper work and probably would keep putting it off as a "thing i must do" but never actually get round to it.
As they will work on a "no win no fee" basis i thought i had nothing to lose.

So anyone that has advice based on experience one way or the other would be appreciated.

Cheers

Gary

chris's scooby

I think it's fairly easy to do it yourself.

Alas

Did it myself. No probs as long as you have all the details. Payout was ok for myself. Pretty much what I expected. Now sold up, bought something else, got rid of the mortgage & cashed in the endowments.
Alas

Daryl

I did it myself, about 2 years ago. Have a look at the Financial Ombudsman's website, I found it very helpful. Basically, you have to demonstrate what your 'attitude to risk' was when you took out the endowment, i.e. show that you weren't the type to take unnecessary financial risk. I wrote a letter, got a form back, completed it and watched them roll over. I know it's a generalisation, but nearly all endowments were mis-sold for one reason or another

LB4

Cheers guys .. will check out that FO website too

IanW

Having worked previously for one of the larger companies with Endowment Mortgage complaints i would say to DIY, at the end of the day the policy of the company that I was working for was exactly the same if the complaint was sent in directly, or if it was sent in via a Third Party company.

Robert Rosario

I wrote a letter, got a form back, completed it and watched them roll over. I know it's a generalisation, but nearly all endowments were mis-sold for one reason or another [/QUOTE]
What a gem.

Tiggs, any comment??

Kiwi

Did it myself, sent one letter had to fill out a form and supply details etc. No real problems however it did take about 4 months.

Have a look at this website

http://www.financevictims.co.uk/forums/index.php

Kiwi

Kieran_Burns

iTrader: (1)

I'm just annoyed that I was forced to cash mine in after I found out it was under-performing 'cos I was desparate to raise the cash (moving house and taking out a repayment mortgage)

I actually got out LESS than the total amount paid into it!

I guess it's too late to get anything now tho'...