From: "JethroUK©" 
Newsgroups: uk.finance
Subject: Re: endowment compensation???
Date: Sun, 05 Feb 2006 22:46:38 GMT


"john boyle"  wrote in message
news:bk8LKbEDsj5DFwOe@johnboyle1.demon.co.uk...
> In message , JethroUK©
>  writes
> >only reason i am still considering using a company is that std life (who
my
> >policy is with) is due to demutualise in June-ish and i have found a
company
> >that promise to complete the claim in 8 weeks, whereas i dont know how
long
> >it would take (maybe months) to complete a personal claim - i haven't
seen
> >any FSA guidleines as to how long the comapny can take to sort a claim,
> >which is strange because it could be never on that basis - if you know
> >anything about this i'd be interested
> >
>
> In my direct experience of many claims to differing companies I think I
> can say that Standard Life are by far the most efficient and fair. Even
> in cases where they can find no evidence of a mis sale they still will
> pay out if the client says he was not told of the chance of not paying
> off the mortgage. In addition, they will pay you to get independent
> advice on their offer from an IFA. I cant remember if they will pay an
> extra £250 or £350 for this. Their claims assessors are friendly and
> very accessible and will explain it to you by phone if you want. In
> addition they will take the first complaint WITHOUT A LETTER! All you
> need do is ring them and they will send out the forms. When you get the
> form it will ask about all the mortgages you have had since you got the
> endowment. If you cant remember, just right 'cant remember, thrown
> original details away'. They will then use the default setting laid down
> by the FSA which is to assume that you had a mortgage with an interest
> rate that was the same as the Halifax Base rate. They use the same
> software as the FSA and FOS to calculate any payment, its called
> 'Mortgage Fundamentals'.
>
> Using an intermediary firm to do this is a complete and utter waste of
> time and money and you will end up having to complete MORE paperwork
> than doing it the way I have described above. Its hardly surprising that
> they havent told you how good Standard life are!
>
> The demutualisation will not delay the claim, in fact I reckon Standard
> want all these claims paid and off their books as soon as possible and
> preferably BEFORE demutualisation as it will effect the share price.
>

thanks for that - i think i'll just send a letter and hope they sort it in
resonable time