Doctor? wrote:
SirWanksalot wrote:
Doctor? wrote:
Endowments DO NOT lose money. Its just money in the wrong pot.
Cash in the endowment and put that money into a repayment mortgage.
Dont mention it.
So the Party and the FSA just made up this whole thing about mis-sold endowments?
Thanks for that.
Dunno about that.
DO you know anyone who has LOST money in an endownment policy?
I'll bet the answer is NO.
At worst you get back what you put in. ie it made fuck all money.
I know this from experience. Where do you glean your knowledege?
Dont mention it.
Many people were told that the endowment was guaranteed to pay off their mortgage when it matured. Source: the FSA's guidelines on claiming against the conmen.
I was told (by my father in law who sold me the policy) that the endowment WOULD pay the mortgage off after the term.
Father in law told me to claim against N.U even though he'd sold me the policy,bless him.
Turns out he'd done everything by the book so i'll get fook all.
Wrote and complained,saying that i was given bad advice and was told because i hadn't complained to the financial ombudsman within 6 months of my original letter,then i cannot pursue my claim against N.U.
I didn't realise this at the time and i only recently found that bit of info out in the original letter in the smallest print imaginable,note to self - read your letters more thoroughly!
I'm now going down the oute of one of them no win no fee companies that you see on the telly.
Far too expensive for me to take em to court misel,i may get fook all but its worth a try.
As it stands,ten years before the policy is due to mature,i currently have a £12,000 shortfall on a £31,000 mortgage.
I have £10,000 guaranteed within the policy so worst case scenario is that i would owe £21,000.
Unless the worldwide economy breaks all records in the next ten years,it WILL be short.
I'll have to cross that bridge when i come to it.

http://www.neworderinfoweb.piczo.com