Over 600,000 of the UK's endowment
mortgage holders have won compensation after claiming
their endowment provider mis-sold them the stock market-linked
investment policy used as a repayment vehicle for this kind
of interest-only mortgage.
And to make sure you haven't run out of time, go to Am
I too late for endowment compensation?
So, let's assume you're satisfied that you have a mis-selling
claim and that you haven't been time barred, here's what to
do next
Stake your mis-selling
compensation claim
• Put it in writing
Begin by writing to the firm of independent financial advisers
or the company that sold you the endowment policy.
If you don't have the address, the Financial Services Authority
(0845 606 1234) may be able to provide it.
Head your letter complaint and include all relevant details
such as policy numbers and dates.
• Make your case
Set out the grounds for your complaint clearly and concisely,
and include photocopies of any supporting documents.
Explain exactly what you want the company to do for example,
compensate you.
Don't get angry a polite, rational letter is much more likely
to get a positive response.
• Send a reminder
If you haven't heard anything in eight weeks, write again
and explain that you're going to take things further.
If you're unhappy with the response, take your complaint higher
in the company.
• Be persistent
If you don't get a satisfactory decision by the time youve
exhausted the company's complaints procedure, you have six
months to go to the free Financial Ombudsman Service.
The ombudsman will make a ruling and may award compensation
to put you back in the position you would have been in if
you'd had decent advice in the first place.
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