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Re: MattyA's Masterplan....
Got my fingers crossed too Matty
Got my fingers crossed too Matty
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"If wishes were horses, beggars would ride"
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Re: MattyA's Masterplan....
Great 'NEWS' MattyI'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.
If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.Comment
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Re: MattyA's Masterplan....
Thats good news, hope they come up with a number thats in line with your calculations
When you have nothing you have nothing to loseComment
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Re: MattyA's Masterplan....
Thanks people - your comments are much appreciated.
I will keep you posted as things unfold.
MattyComment
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Re: MattyA's Masterplan....
Best of luck matey
I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!
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Re: MattyA's Masterplan....
Update re L&G (mis-sold mortgage endowment)Originally posted by MattyA View Post
Letter of offer received from them on Thursday - cheque received yesterday!
Not sure if its correct or not but I am going to accept it as I dont know how to work these out , but as it was from 1996 and I had cashed the thing in in 2002 I was never very hopeful of getting anywhere with this.
So its a RESULT.
MattyComment
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Re: MattyA's Masterplan....
Great news Matty...well done!!!
Shep xComment
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Re: MattyA's Masterplan....
Result Well Done....Originally posted by MattyA View Post.......had one of these back then
never looked into it.......... where do I start ?
I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.
If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.Comment
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Re: MattyA's Masterplan....
Congratulations Matty!
Very chuffed for you!
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Re: MattyA's Masterplan....
I had an endowment many years ago - Matty, wanna give us some history please so others can follow this process
Cheers & well done!I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!
If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.ukComment
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Re: MattyA's Masterplan....
L&G endowment
When going through my paperwork (boxes of the stuff) when I first started the UE and then PPI reclaiming process, I came across an endowment that I had taken out when I had moved house / remortgaged.
At that time I had been reading all kinds of stuff on various sites and had come across an old thread on MSE and asked a question or 2, but was told I had no chance that it would be time barred etc.(By a mortgage advisor I believe)
I decided to give it a go and just wrote to them,telling them that I believed that I had been mis-sold,that the endowment was not fit for purpose as it was not going to come anywhere near clearing my mortgage , never mind provide the hefty surplus that the advisor had told me to expect.
They wrote back rejecting my claim and enclosed a copy of the original application form, which they said proved that their advisor made the risks clear to us etc etc.
A couple of letters passed between us but they were not for budging - in fact they were very dismisive and quite rude.
I sent it to the FOS and after a while and a couple more letters they found in my favour - however L&G refused to accept the adjudicators findings and refused to pay up, so he sent it to an Ombudsman to review it.
After another long wait the ombudsman confirmed that he also upheld my complaint and had written to L&G telling them so and that they MUST pay compensation in accordance with the guidelines.
(This decision was legal & binding).
A couple of weeks later I got a cheque for just under £2K - worth a punt me thinks!.
I took the endowment out in 1996 when I moved house but converted to a standard mortgage in 2000 when I first received notice that there was going to be a shortfall.
I kept the endowment for another couple of years as a savings policy but cashed it in a couple of years later due its abysmal performance and realising that the fees being taken from it were more than the profits being added to it.
Original letter of complaint sent to L&G - September 2010
Sent to FOS - December 2010
Cheque received - March 2012
Hope this helps.
Give it a go you have nothing to lose,just a bit of time and a few stamps.
Matty
PS- My sister got an L&G endowment via the same broker and is now going down the same path.Comment
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Re: MattyA's Masterplan....
I had a standard life endowment in the 90's - at the time they based it on the old "6, 9 & 12%" valuations. As it happens only the 12% would have come close. But I sold up and then cashed the endowment a year later.
It would have been around 1996 till 2002 I had it.....
Remember paying about £450pm (even back then)!!
Thanks for help Matty.I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!
If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.ukComment
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Re: MattyA's Masterplan....
Crikey that was a lot of money to pay back then Niddy!Originally posted by Never-In-Doubt View Post
Good one Matty.
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Re: MattyA's Masterplan....
Originally posted by Never-In-Doubt View Post
No probs Boss.
I had a couple of small standard life ones from the late 80's also - both sold to me by a mortgage broker.
1st claim failed - as it was sold before they were regulated (1987) + Broker had ceased trading. Went to FSCS but drew a blank.
2nd one was upheld by FOS after initial fob off from Standard life - however their calcs showed that I only marginally lost out and despite a lot of arguing I had to settle for £300 ish in the end.
£450pm is mega bucks for an endowment - got to be worth a go !
Good luck
MattyComment
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Re: MattyA's Masterplan....
Originally posted by Never-In-Doubt View Post
My claim was similar - they had highlighted the best returns which I argued was why I took it out - the FOS decided that the risk element involved in trying to achieve that was not explained properly to me & that in his opinion if explained properly I wouldnt have taken it out.
IE - I wasnt financially savy enough to understand such things and I had a young family at the time and was looking for financial security and certaintity - not casino style investments / returns.I must admit that I laid it on a bit thick.
MattyComment
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