Time is running out for the hapless holders of underperforming, and useless, endowment mortgages to complain over mis-selling.
The life assurance companies will be writing to their policy holders in the coming months, warning them that they have a limited length of time left to complain.
After that, tough luck!
It is reported that Standard Life and Lloyds TSB will shortly be starting their mail shot about this issue.
Norwich Union, will be writing to its 1.1m endowment policy holders in March, reversing its earlier commitment not to impose a time bar.
How nice of them!
Friends Provident and Zurich will also be writing to their policy holders.
Some will allow 6 months to complain, others 12.
The Financial Services Authority (FSA) rules give policyholders three years to complain, after the arrival of an initial letter warning that an endowment has underperformed.
Out of the large firms, only Legal & General and Prudential have not imposed time limits on complaints.