Endownment Misselling

[iron25]

Originally Posted by paulyoung666

quite right , you are entitled to your opinions , but ........... , when you are 20 years old , green as grass , and .......... , have a slick smooth talking salesman trying to help you out .............

I hear what you're saying but still, it's not really a good enough excuse in my book. Maybe I'm far too sensible and tend to investigate things quite a bit before signing up for something as big as a mortgage. I remember watching a program regarding credit card fraud and some of the claims they made were quite regarding people and their credit cards. I can't remember the exact figure but I think it was as low as only 15% of people check their credit card statement before actually paying it If this is true then it highlights why people can sometimes find themselves in financial trouble.

[Wicked_and_Crazy]

Originally Posted by iron25

I hear what you're saying but still, it's not really a good enough excuse in my book. Maybe I'm far too sensible and tend to investigate things quite a bit before signing up for something as big as a mortgage. I remember watching a program regarding credit card fraud and some of the claims they made were quite regarding people and their credit cards. I can't remember the exact figure but I think it was as low as only 15% of people check their credit card statement before actually paying it If this is true then it highlights why people can sometimes find themselves in financial trouble.

But the point is, 10 years ago you used to get tax relief on the first £30k of your mortgage and endowments were invested predominently in equities. This has then changed but you bought the contract on the original terms. Where then endowment policyholders asked if the investment terms should change? of course not, did the government consider the endowment policy holder when it cut the tax relief? of course not.

In my opinion the government and the FSA have a lot to answer for.

[paulyoung666]

Originally Posted by Wicked_and_Crazy

In my opinion the government and the FSA have a lot to answer for.

one hell of a lot in my opinion gary