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Mortgage Guide
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Can I claim endowment compensation?
Most
people who took out an endowment
mortgage expected that at the end of their mortgage
term, they would be able to clear their
loan and have thousands of pounds left over.
Sadly, the majority are now facing the harsh reality that there
won't even be enough cash to pay off their debt.
This is because these stock market-linked investment policies,
which are used as the repayment vehicle for this kind of interest-only
mortgage, have not risen in value nearly as much as was hoped.
(For more on this, read What
went wrong with endowment mortgages? and How
to make up an endowment shortfall.)
More than 600,000 policyholders have since claimed compensation on the basis that they were mis-sold.
As a result, they are around £1 billion better off.
If you're facing a shortfall, it would be well worth checking whether you might have grounds for a claim.
If successful, you won't be handed all the extra money you hoped to get from your endowment.
But you should receive enough to put you in the position you would have been now if you'd been properly advised.
To find out more, go to Was I mis-sold my endowment?The bad news
It isn't enough to have grounds to claim that you are a victim of mis-selling.
You also have to lodge your claim within the time limit miss this and your chance of compensation is gone.
For an explanation of the deadline for lodging a mis-selling claim, read Am I too late for endowment compensation?
To read more on this subject please see the list below or your mortgage guide or your home buying guide
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Read on
What went wrong with endowment mortgages?
What should I do with my endowment mortgage?
How to make up an endowment shortfall
Was I mis-sold my endowment mortgage?
How to complain about an endowment
Endowment mortgage claims: a legal loophole
Can I claim endowment compensation?
Am I too late for endowment compensation?
Help making a complaint about your endowment mortgage
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Guide to Buying Home in the UK
Guide to UK Home and Mortgage Insurance
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