endowments

[swindontony]

I was contacted by a financial adviser about claiming for 3 misold endowments, I never thought about this before because I think I was aware of the financial pitfalls when I bought them but I thought as it was a no win no loss situation I have applied for compensation. I havent received any news yet about the outcome but i was wondering what the % is that I may receive any compensation.

[hectic]

Hi, if you do manage to claim sucessfully (doubtful that you will as you will have to prove that you were not aware of the risks and this can be hard as most IFA's will have something in writing signed by you to this effect), it will be calculated how much you would have paid off your mortgage if you had taken a repayment only option and then whatever you have already paid of your mortgage and the value of your endowment policies will be calculated and the payout will be the difference between the figures.  Hope this helps

[stream]

Mendelsons solicitors in manchester are good at this. you can contact mr mendelson himslef through www.advice100.co.uk