The Endowment Diary

The Endowment Diary


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

Thursday, May 24, 2007

Endowment Complaints Tailing Off

Endowment Complaints Tailing Off

In its annual review, the Financial Ombudsman Service (FOS) said that endowment complaints are tailing off.

Last year's review reported 69,149 endowment problems, while this year the figure had fallen to 46,134.

Chief ombudsman, Walter Merricks, said:

"This year marked the completion of over 500,000 financial disputes by the FOS since we were set up in 2001. Half of these complaints have involved mortgage endowments, although the record numbers of these cases is now at last decreasing, as we had predicted was likely to happen."

That does not of course mean that the problem is resolved, or indeed has gone away.

Many endowments were a "crock" form start to finish!

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