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Mis-Sold Endowment

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Dave-Sandra | 00:00 Sun 16th Oct 2005 | Business & Finance
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I have had my claim for a mis-sold endowment claim upheld by Friends Provident although have only been awarded a small compensation due to paying off 35% of the mortgage by part redemptions in 1995 and then offseting the interest payments from 2002 with savings. Although we have nothing in writing, we are claiming that we were assured that the policy would repay the mortage and pay a bonus of approx 50% when it came to term.
Are FP allowed to calculate our part redemptions in to the compensation calculation as they were not paid to offset the failing of the policy? Thanks in advance for your advice.. Dave 

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Hi dave and sandra, we are also in dispute with friends provident! we took out a repayment mortgage in 1982, In 1983 they called us into the bank cant say who on here though -and advised us to change to an endowment mortgage=worst thing we ever did! we were verbally told" its the best thing for you " as youl get a lump sum at the end of your mortgage.Rubbish....all they will offer is to put us with a repayment mortgage and "give us" 2000 towards the outstanding mortgage.I phoned them and i was given a phone number to ring -a sort of "advisor" and he told me friends provident will pay upto �250.00 to see a financial adviser, friends provident didnt offer this and they were surprised that i found this out! Phone them and see what they have to say to you-(good luck and let me know how you get on)

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Mis-Sold Endowment

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