If you were advised to take out an endowment to help you repay your mortgage, then you could be entitled to claim endowment compensation.
Endowments, by their very nature, reward investment over a long period of time and in many cases may not return the amount that you may have been told they would. This in itself is not a valid basis for an endowment compensation claim, but if you were not made aware of the risks before you took out the endowment, then your claim may be valid.
Endowment mis-selling claims
Endowments are long–term commitments that are tied to the performance of investments so are inherently quite risky. It is imperative that your advisor kept you informed of this risk throughout the process, and also told you that cashing them in early may also have a negative effect on their value and make them more likely to not return an amount sufficient to pay off your mortgage.
Claiming endowment compensation may be a route for those customers that feel that a genuine grievance against the individual or organisation that sold them their endowment in the first place.
A time limitation period applies in these cases: generally a case must be brought within three years from the date on which the customer was made aware that their endowment might be in trouble, or likely not to return the amount expected (e.g. via a reprojection letter) or six years from the date on which the endowment was sold.
Endowment compensation aims to return the customer to the position in which they would have found themselves had they not incurred a financial shortfall as the result of endowment mis-selling. This means that they must have both been badly advised and incurred a definite financial detriment in order for their endowment compensation claim to succeed. The compensation paid will be directly in line with the money that you are deemed to have lost. It is merely to return the customer back to where they should have been in the first place.
Endowment claims
Endowment compensation claims are fought on a 100% no win no fee basis. We work with financial experts all over the country offering a whole range of services and we guarantee our experts will make the process as easy and as stress-free as possible. Even if you have long since mislaid paperwork you should not feel discouraged from bringing a case if you believe you meet the criteria to make an endowment compensation claim.
Get in touch with us today without delay.
