More than 600,000 endowment
mortgage holders have successfully claimed compensation
on the basis that they were mis-sold the stock market-linked endowment
policy used as the repayment vehicle for this type of interest-only
mortgage.
Unfortunately, many more have missed the Financial Services Authority's
three-year deadline for lodging a claim.
In most cases, that's the end of the story
no matter how good the claim, if you're too late, nothing can
be done.
Unless, of course, your policy was bought from a Scottish provider
A ray of hope
If your endowment provider is headquartered in Scotland and several
of the big players are you may still be in with a chance even
if your deadline has passed.
This is because under Scots law, the deadline for claiming there's
a problem with any kind of contract is five years, not three.
And it doesn't matter whether you live in
Scotland, England or anywhere else the law holds good because
it relates to where the provider is based.
So, if yours is north of the Border, claim now.
Of course, there's no guarantee you will succeed. Even if you
have a good case, your provider may turn you down in the hope
that you'll simply give up and go away.
If this happens, consider getting legal advice and taking action
through the Scottish courts.
If you win your case and your provider is
forced to compensate you, it could be well worth the time and
trouble.
Read
enough? Just want a quote? To get
your best mortgage quote quickly and easily we can
put you in contact with a recommended mortgage adviser. It's free,
completely confidential and there's no obligation at all. Simply
fill out the form below
