The Endowment Diary

The Endowment Diary

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

Tuesday, October 04, 2005

MP Acts

MP Acts

Sandra Osborne, a Scottish MP, has promised to act and to try to help thousands of house owners who have been mis-sold mortgage endowment policies.

Sandra Osborne helped bring in new rules governing the sale of endowment policies by banks and building societies.

She said that she intended to lobby the government to help the thousands of people who have been mis-sold the same policies by their solicitor.

She was prompted to act after listening to BBC Radio Scotland's series, The Investigation.

The show explained how many people, who were mis-sold these policies in the 1980's and 90's by banks, building societies and other financial institutions, have successfully claimed compensation for performance shortfalls.

However, it seems that Scots who were sold identical policies by their solicitor when buying their homes have virtually no hope of being compensated for their losses.

The programme featured Gail McEwan, who is running a campaign to win compensation for people in Scotland.

If you think you have been mis-sold an endowment policy by your solicitor and want to join Gail McEwan's campaign to get parliament to act, you can contact her at PO Box 19582, Johnstone.

I wish her every success.

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