A new survey has revealed that most people with a mortgage endowment policy believe it was mis-sold. While 87 percent of the respondents felt they were duped when they originally took out the policy, only 10 percent felt that they were made aware of the risks. more.. »
Mortgage endowment claims are still the biggest source of new claims for Financial Services Compensation Scheme (FSCS). According to it’s latest report there were 7,410 new claims during the financial year. more.. »
A recent ruling by the FSA found failings in mortgage endowment complaints handling by Mandrake Associates Limited increased the risk that endowment mis-selling complaints were either wrongly rejected or delayed. Due to his mishandling of endowment mortgage complaints the Firms sole director is also prohibited from engaging in any customer functions in regulated financial services received by Mandrake. more.. »
A survey of 195 endowment mortgage holders found that 86 percent of them had received warnings that their endowment policies will not yield enough to pay off their mortgage. more.. »
A recent article in Timesonline claims that savers with endowments pensions and bonds may have been ripped off to the tune of £8 billion this year. more.. »
Mortgage repayments worry 1 in 5 mortgage holders according to the latest figures from the FSA. Their survey reveals that, of those with concerns about meeting repayments over the next 12 months, 25 percent had no plans on how they would meet these costs. more.. »
Prudential has announced welcome news for its endowment mortgage customers who are dependent on endowment policies to pay off their mortgage this year. Other customers will also benefit as, for the first time in 18 years, there will be increased annual bonuses paid to with-profit policyholders. more.. »
Endowment mortgage customers of Norwich Union may have something to look forward to. The company has announced that £2.1 billion will be available to policyholders as a result of the freeing up of a significant part of the inherited estate. more.. »
Standard Life has announced that there will be a cut in mortgage endowment shortfalls this year. Of the 63,000 maturing policies around 45 percent will not be subject to a shortfall. more.. »