SIGN UP

Endowment Compensation

Avatar Image
xwordmad | 21:33 Sun 12th Feb 2006 | Business & Finance
1 Answers
Can anyone help please? We have finally been offered compensation for a mis-sold endowment but instead of calculating based on repayment vs endowment route they have offered a sum to cover the payments that will have to be made after retirement... Is this normal? They originally asked for mortgage rates applied so they can work out the compensation but have now changed their tact... Any advice greatly appreciated... Thank you.

Answers

Only 1 answerrss feed

Best Answer

No best answer has yet been selected by xwordmad. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.

Ask the FSA (I think its www.fsa.gov.uk) - they have an advice line. If you are not happy you can always reject the offer and go to FSA for a formal view, but I think they may have the power to reduce awards as well as increase them. Find out first, and be careful!


It might be that what they have done is better for you than the normal repayment calculation, but if so they should be able to demonstrate it to you.

Only 1 answerrss feed

Do you know the answer?

Endowment Compensation

Answer Question >>