Hi,(posted 8191 days ago)I took out an endowment policy with mortgage in 1992. The BS manager advised us that it would meet the mortgage and probably give us a lump sum too, although our written docs are vague on this.
We specifically stated that we were worried about Endowment performances as already peole were being advised of shortfalls. We were reassured that this would not happen as "the policy is regularly reviewed to make sure it is OK" Each year the price has gone up and we assumed this was as a result of the review.
When the hoo ha started again last year we were not worried as we assumed our policy was being regularly reviewed, therefore is came as a really bad shock when we got our letter through the door stating we had a projected £40K shortfall (policy for £70K).
After a panicy search we managed to find all our paperwork and I have now put in a complaint.
Anyone else in the same boat? Anyone actually getting anywhere? Any opinions on the likelyhood of any success?
I've passed being angry and shocked now, just very depressed :(
Mandy