The Endowment Diary

The Endowment Diary


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

Wednesday, August 18, 2004

It is reported that Norwich Union will be introducing a one year time limit, for customers who complain about mis-sold endowment mortgages.

People with a complaint will have 1 year to lodge the complaint, once they receive their third "red letter".

Norwich Union is writing to its 1 million plus policy holders about their "initiative".

The last round of red letters from Norwich Union, is reported to have only given comfort to 13% of policy holders that their polices would reach their target.

To date it is reported that Norwich Union has received 34000 complaints for mis-selling, 17000 of these have been upheld.

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