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Question about Endowments

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When we bought our house about 8 years ago we got our mortgage through The Nottingham Building Society, who incidently were the same people who sold us the house.


At the time I knew very little about finance, mortgages etc so when we were discussing the mortgage with the BS I said the only one I knew anything about was an endowment, so we were duly offered one, at no time were any other mortgage types explained or offered.


So 8 years down the line we have now got a letter saying there is a good chance our endowment won't cover the cost of the property.


Where do I stand & is there anything we can do, as I feel we were railroaded into something that wasn't in our best interests?!

RBOS - Settled in Full

MBNA - S.A.R - (Subject Access Request) Sent, Data received, offer rejected, LBA sent, another offer made & rejected.Settled

CAP 1 - SAR Sent, Data received, offer rejected, LBA sent. Due to illness no further progress

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Have a look here, It is the Financial Ombudsman Site, There are special complaints forms regarding Endownment Policies..


our complaints procedure and how to complain


If you need further help , Please just shout..



Lloyds TSB -PPI - Full refund . 05/09/06 :D:p (As Seen on TV) :p

Halifax settled in Full.. :D 22/09/06

TSB First Claim SETTLED IN FULL 19/10/06 :D

Second Claim to Lloyds TSB - Settled in Full

Firstplus - early settlement interest charges - Challenged the use of the rule of 78 - SETTLED IN FULL 12/1/07

PPI - GE Money / Purpleloans / Firstplus - Now Settled after 1 year long hard fight.




If my post has helped you, please click the scales! :grin:


Anything said is my opinion and how I understand the law, always consult professional legal advice before taking something to court.

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The Which? magazine people also have a good website for this called endowmentaction.co.uk. The template letter on this website is a good memory jogger for you and will keep you on the right track. When completing the letter template online, have the warning letter from the endowment company to hand as you will need to include details within the letter such as:


1. Endowment company (life company) name & adddress

2. Policy start date

3. Sum assured


All this info and more is contained within your latest warning letter from the life company.




There is no need for you to do so. The complaint procedure is very straightforward and FREE of CHARGE. If you use one of the aforementioned companies, their fee could be as high as 25% of your compensation payout.

Donate to your favourite charities without it costing you a penny. For more details please visit www.insure4charity.co.uk

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