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endowment falling short

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By *layfullsam OP   Man
over a year ago

Solihull

Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall

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By *ushroom7Man
over a year ago

Bradford

I sold my body. I now live in a shed.

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By (user no longer on site)
over a year ago


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall "

I wont tell you what I thought this thread was about!

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By (user no longer on site)
over a year ago


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall

I wont tell you what I thought this thread was about! "

Tut tut

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By *ittlemorespiceCouple
over a year ago

North Cornwall


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall "

Had one years ago and converted the sort fall to repayment basis. I used to work for life assurance company but don't believe in throwing good money after bad. Get indep financial advice.

Mistress x

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By *layfullsam OP   Man
over a year ago

Solihull


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall

I wont tell you what I thought this thread was about! "
Mmmmmmmmmmmmmmmmm let me guess lol

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By *isscheekychopsWoman
over a year ago

The land of grey peas and bacon

I thought it was going to be about willy sizes... hahaha

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By *ENDAROOSCouple
over a year ago

South West London / Surrey


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall

I wont tell you what I thought this thread was about! "

Have to admit I thought it was about another type of endowment too

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By *yrdwomanWoman
over a year ago

Putting the 'cum' in Eboracum

Yeah I sold mine ages ago and got a nice bit of cash.

I thought you could sue for misselling if it fell short.

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By *ENDAROOSCouple
over a year ago

South West London / Surrey

When we first got the property ladder we had an endowment as it was recommended to us.

But another F.A. then advised us that is was a bad idea and that we would end up with a big shortfall....so got rid of it after about 3 /4 years.

Glad we listened to him....

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By *layfullsam OP   Man
over a year ago

Solihull


"Yeah I sold mine ages ago and got a nice bit of cash.

I thought you could sue for misselling if it fell short."

i think the only problem is the industry police themselves and you have to prove that they missold it ?

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By *layfullsam OP   Man
over a year ago

Solihull


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall

I wont tell you what I thought this thread was about!

Have to admit I thought it was about another type of endowment too "
what is it about you girls and endowments

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By *yrdwomanWoman
over a year ago

Putting the 'cum' in Eboracum


"Yeah I sold mine ages ago and got a nice bit of cash.

I thought you could sue for misselling if it fell short.

i think the only problem is the industry police themselves and you have to prove that they missold it ?"

I'd do a bit of googling if you have a min. There might be some compensation pot for people in your position.

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By *ittlemorespiceCouple
over a year ago

North Cornwall


"Yeah I sold mine ages ago and got a nice bit of cash.

I thought you could sue for misselling if it fell short.

i think the only problem is the industry police themselves and you have to prove that they missold it ?

I'd do a bit of googling if you have a min. There might be some compensation pot for people in your position."

There was... not sure there still is. Legislation changed about info taken and disclosure about commission agents were earning to. Depends on many factors of when and how policy was sold. As I say, best advice I can give is go to someone independant before deciding, ifa or sol or I'm sure advice guide was sent with letter. there are plenty of institutions who will offer free advice...would pick any one of them over swingers site. Lol

Mistress x

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By (user no longer on site)
over a year ago

Dont think i fancy meeting a guy with an endowment shortfall

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By (user no longer on site)
over a year ago

Still have an endowment mortgage but have split it in half, half endowment covered by the policy half repayment, also have made extra payments (10% max a year allowed on policy) to bring the outstanding sum down quicker, do something about the shortfall now or it will cost you more later!

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By (user no longer on site)
over a year ago

I sold mine years ago as I was told it would never be enough to pay it off, as it stands, when I pay my mortgage payment every month, that's what is clearing the debt

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By *-and-KCouple
over a year ago

Back of Beyond

Ours is in the process of being paid to us now (waiting for the cheque) As with the OP, we were promised the world. The reality is, it came up £8000 short of paying the mortgage, never mind giving us the 19 grand lump sum after repayment as promised!

Probably like you we couldn't claim anything back for mis selling, our started in 1985 and the payback scheme came into place in 1987. Even the ombudsman refused to deal with us. We were basically told that, yep its shite, but the company are playing by the governments rules. Nothing we or you can do about it, so accept the loss

We kicked halifax into touch over, took out a interest only mortgage. We keep the endowment payout cash, sell the house when we want to retire and pay off the mortgage with the proceeds. We have a spanish home to move to and hopefully will be mortgage free by retirement time on that place.

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By (user no longer on site)
over a year ago


"Yeah I sold mine ages ago and got a nice bit of cash.

I thought you could sue for misselling if it fell short."

wish we could do that on here

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By (user no longer on site)
over a year ago


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall "

where ya been anyways. missed your posts.

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By *aptureMan
over a year ago

Bristol


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall "

Had mine a few years back, converted 20% of the mortgage into a repayment to cover the forecast shortfall, but also started to actively manage my own fund, rather than leave some dick in London to make a mess of it! Good way to go but not doing badly back in positive territory, maybe enough for the wing mirror on a Ferrari.

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By *aucy3Couple
over a year ago

glasgow

pheeeeewwww.

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By *ENDAROOSCouple
over a year ago

South West London / Surrey


"Yeah I sold mine ages ago and got a nice bit of cash.

I thought you could sue for misselling if it fell short.

wish we could do that on here "

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By (user no longer on site)
over a year ago


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall

I wont tell you what I thought this thread was about! "

lol..i can imagine, i think i was thinking the same as you lol

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By (user no longer on site)
over a year ago

mine from 1986 has just paid out 10000 short no comeback from the company ... I really dont understand why they don tpay out the full sum at the end ...theyd have to pay it if you had died ???

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By (user no longer on site)
over a year ago

I was working for an insurance company back in the 80's. The Reps were pushed to sell these endowments, plus they give the greater commision at the time.

The late 90's my husband and I got a letter saying how much of a shortfall there was going to be with our endowment and they were encouraging us to take out another policy to cover the shortfall. Gone was the house paid for and the extra left over to enjoy. We wrote to the Ombudsman after a article in the Telegraph at the time. Ombudsman told us to take it up with our Insurance Company. We went to cash in our endowment. My husband thought it was a waste to put more money into a policy with a Company that failed to cover us in the first place. Years later we received a telephone call telling us we could get money back as we could prove we were mis sold on our policy. My husband went onto have just a repayment mortgage and used to pay off more than was needed each month reducing the amount on mortgage dramatically

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By *layfullsam OP   Man
over a year ago

Solihull


"Grrrrrrr just had the endowment letter with the red alert-high risk of shortfall heading...whatever happened to the it will earn enough to pay the mortgage off and give you enough left over to buy a ferrari and a small island in the sun !!

Rant over, who else has had the same letter and how are you going to make up the shortfall

where ya been anyways. missed your posts."
awww thanks for saying youve missed my posts more used to getting grief over them lol

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