The Endowment Diary

The Endowment Diary

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

Tuesday, June 03, 2003

Extract of emails sent and received today to/from a site visitor:

"...
Sorry to hear about your compensation, but at least you have more than I have got so far!

The method that is meant to be used, as I understand it, is that the ombudsman or life assurance company compare your situation if you had taken out a repayment mortgage to the endowment; then the difference, if in your favour, is the compensation.

I have heard of more than £200. The case that springs to mind is mentioned in my letter posted 2 June (to The Endowment Diary) where Lord Denning was quoted; I believe (but you will need to check with The Times) the claimant got around £3K.

As with anything to do with money please take independant legal and financial advice before making any decision.

Please keep visiting the site, and keep in touch.

....
Best regards,

Ken

Dear Ken,
I too am in the process of trying to get some redress into being missold endowment policy, how stupid was I on a repayment mortgage to be sold an endowment? A blatant case of misselling. Anyway, I am in the final stages of negotiations with the Ombudsman & have been offered a payment of £200 for 'distress & inconvenience'. No mention of compensation. Have been now worn down with it all, have you heard of any awards being made greater than this? My original claim was for £20,000! Ha ha..."

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