The Endowment Diary

The Endowment Diary

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

Friday, October 01, 2004

Endowment Crisis Spreads

It seems that it is not only the hapless home owners in the UK, who are suffering from being mis-sold non performing endowment polices.

The cancer of this financial scandal has spread to the Republic of Ireland.

It is reported by RTE that the Irish Financial Services Regulatory Authority, has strongly urged anyone who believes that they were mis-sold an endowment mortgage to complain to the companies who sold them these white elephants.

It seems that out of the 90000 polices sold in Ireland, most endowment mortgage holders have been told that their policies will have shortfalls.

Well, I wish them luck.

Doubtless they will encounter the same instrasigence, and evasion, that the UK holders have encountered as they try to claim redress.

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