The Endowment Diary

The Endowment Diary


The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Thursday, November 14, 2002

No rest for the wicked!

Today I received a response from the Sales Complaints Administrator of company A, dated 13 November, relating to my complaint concerning my other endowment sold in 1991.

Brief extracts being:

“…I am sorry to learn of your dissatisfaction…

..You have raised a number of issues, which we will answer when replying with the results of our investigation…..

..I would be grateful if you could send copies of any relevant documentation in relation to your mortgage, including the application form and mortgage offer you may hold. This will enable us to deal with your case as efficiently and quickly as possible..

…Please complete the enclosed Endowment Questionnaire as fully as you possibly can. Without this information the process may be prolonged….

….This will be important if you complaint is successful to enable us to calculate the correct compensation if this is due to you…

..I am required by our regulators…to send you a letter within four weeks after receiving a complaint…In view of the late receipt in my department this letter serves to provide you with the four week update…”

The attached questionnaire they mention is similar to the Ombudsman’s one; except more complicated, eg details are required on my:

 Attitude to risk

 Existing plans and investments

 Mortgage details before, during and after the endowment.

I will dig through more dusty files and fill this in over the next few days.

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