UK Endowment Shortfall Test
Endowment mortgages were popular in the 1980s and 90s, and relied on your repayments being invested on the stock market to hopefully pay off your mortgage at the end of the term, and even possibly receiving a surplus in the form of a cash lump sum.
Unfortunately this hasn't happened in a lot of cases, leaving policy holders with an endowment shortfall - their policy will not give a good enough return to pay off the mortgage.
If you're one of the millions who are facing an endowment shortfall, Brunel and Franklin offer a simple 60-second test to see if you may be eligible for an endowment compensation payment.
Who can get endowment compensation?
You may be eligible for compensation if you can show that you were mis-sold your endowment policy and have lost out financially as a result.
Grounds for claiming mis-selling include:
- It was not explained to you that you might face a shortfall
- Your advisor did not check that you accepted the risks involved
- It was not sufficiently clearly explained to you that an endowment policy is a long term investment, and you would be unlikely to see a good return if you cash it in early
If you think one or more of these applies to you, and you are facing a shortfall, you may be able to claim compensation to clear your remaining mortgage debt.
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