Endowment misselling was common in the was common during the past 2 decades but did not attract the regulators attention until the guarantee was withdrawn. People bought in to endowment policies because they were led to believe by an IFA (independent financial advisor) or other salesman that it was the best and most popular way to pay off their mortgage. Wrong.
In some cases these advisors were poorly trained and failed to tell the endowment policy customers about the risk element of their endowment investment.
Many people are surprised to discover that their endowment policy is linked to a fund investing in the stock markets around the globe. Most people openly admit that they would not be happy taking such a high risk when it comes to paying off the mortgage.
Despite these risks people continued to invest in endowments, largely because they were poorly advised by the people they trusted. Everything would have been fine but for the unfortunate set of events outside of the mortgage industry that played a big part in the failure of these particular investments. So naturally with the downturn in certain areas of the stock market, many endowment policies have dropped considerably in value.
Currently many endowment mortgages are expected to fall a long way short of the target amount needed to pay off the mortgage. If poor advice by agents of the life company has affected your policies expected performance, you are indeed a victim of the endowment shortfall crisis and are entitled to make a complaint and claim.
It wont cost you a penny to find out if you are eligible to make an endowment misselling claim for compensation and it doesn’t matter if you no longer own the policy, you can still claim.
You could stand to make a substantial amount depending on your endowment policy. Start your claim today before the time bar says you’re to late.
The average endowment claim is worth around £5000 but in some cases this figure can rise to as much as £30000 or more depending on your particular policy and situation.
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