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Mortgage Endowment Mis-selling

Were you mis-sold
your endowment mortgage?

It Could Be You!

Do you have a mortgage with an endowment policy? And did you check your last statement from your endowment provider (your insurance company) to make sure that your policy is still on track to pay out enough money at the end of your mortgage to cover your loan?

On top of all the pressures of daily life, many people find attending to this matter all a bit too much, and find reasons to put it off - to the weekend, or the next holiday, or until whenever. It is said that moving home is one of the most stressful events in life, and re-entering the arcane world of mortgages is something most people would rather avoid if possible.

The mortgage endowment mis-selling scandal is old news now. Yet it is estimated that 2.2 million home owners may well be sitting on a mis-sold endowment mortgage. This is in part because many home owners are only just getting the bad news from their insurance companies; that is, they're told that there is a projected shortfall between what they owe their building society and what they are likely to get when their endowment policy matures. A policy that has been on course for many years can suddenly become "vulnerable".

The total amount of shortfall in the UK is reckoned to be £40 billion!

So what to do?

Check it out. If your mortgage is something you'd rather not think about too often, make the effort, and sort out the paperwork. If you've had the dreaded letter, then act now. It is possible to run out of time to make a claim against your building society. (The claim is against whoever give you the advice to take out the endowment mortgage.)

Be assured there are many law firms offering to take up your case for you on a 'no win, no fee' basis. True, they'll want a slice of the compensation, should they be successful on your behalf. But that's better than no compensation at all. If you feel confident enough you can make a claim directly yourself. (But then why have you been sitting on that warning letter?)

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