From: Mr Mark 
Newsgroups: uk.finance
Subject: Mis-sold endowment Y/N?
Date: Mon, 13 Oct 2003 18:41:30 +0100

On Mon, 13 Oct 2003 16:05:08 +0000 (UTC), "Ned"
 wrote:

My late wife and myself were living in a Housing Association flat,
back in 1992. We were one of the first people to be offered the
"Do-it-yourself-shared-ownership" scheme, in London, when it first
came out. We duely went along to a seminar where somebody working for
finacial advisory company on behalf of the housing association, gave a
briefing on how the DIYSO scheme works. At that briefing (and there
were housing association staff attending) the guy said quite
catagorically that people should elect for a repayment type morgage
and advised against Endowment type morgages. We liked the scheme so we
applied, because I was newly self-employed at the time, and my wife
was quite a big earner, we elected for her to buy the house in her
name. She was sent to the finacial advisory companies office in
Crystal Palace, where her financial eligability was assessed. The net
result was that she did not earn enough to get a bank repayment
morgage, but then was offered a Endowment morgage through their
company. 

She was obliged to have life insurance which paid up the full amount
on her passing away, so no short fall transpired. Does this constitute
mis-selling?