The Manx Black Hole
Those of you in the UK with underperforming endowment mortgages, who feel that they have been given the wrong end of a very unpleasant stick, should spare a thought for those endowment mortgage holders resident in the Isle of Man.
Reports from the Isle of Man indicate that there is a legislative black hole there, relating to the mis-selling of investment products.
A discrepancy in legislation has been highlighted, which means that the Manx ombudsman's power only applies to policies sold after April 20 1999, some 11 years later than the UK.
What a mess!