Endownment mortgage shortfall

skip_123

Well we were part of the *next best thing endownment mortgage *so we were told in 1992 by national credit brokers to get mortgage with permanment tsb..we now 25years later have shortfall of 20k has anyone been through this ,or have been told your mortgage would end earlier ?

newacc2015

skip_123 wrote: »

Well we were part of the *next best thing endownment mortgage *so we were told in 1992 by national credit brokers to get mortgage with permanment tsb..we now 25years later have shortfall of 20k has anyone been through this ,or have been told your mortgage would end earlier ?

I honestly can't believe you had an endowment mortgage until now. They were seen as a disaster as early as the early 1990s.

You might have a case. But only a solicitor can tell you

http://www.irishtimes.com/business/personal-finance/hit-with-11-000-shortfall-on-28-000-endowment-mortgage-1.1961784

Try askaboutmoney.com. It is full of decent mortgage brokers.

L1011

I would have thought the ship for claiming mis-selling sailed in the late 1990s. Did you even investigate it then?

PTSB still exists as successor to Irish Permanent and TSB (and some others, not sure if any post 1992 though) if there was a valid mis-selling claim there but I suspect the mortgage broker who likely did most of the work is gone.

skip_123

L1011 wrote: »

I would have thought the ship for claiming mis-selling sailed in the late 1990s. Did you even investigate it then?

PTSB still exists as successor to Irish Permanent and TSB (and some others, not sure if any post 1992 though) if there was a valid mis-selling claim there but I suspect the mortgage broker who likely did most of the work is gone.

Thanks we tried to get out of it but unfortunetly husband got illness which no other life insurance company would take us im not sure thats legal.i will give those numbers a call in morning .ive been trying over years got in touch with national credit mentioned ladys name he said he had heard of her name .(no longer works there)

L1011

If there were grounds for mis-selling (fairly likely) you would have been able to take a case without having to get out of the mortgage.

You would need to consult a solicitor about this but I would have little hope of success this far out. The time to have done something was the late 1990s unfortunately.

skip_123

L1011 wrote: »

If there were grounds for mis-selling (fairly likely) you would have been able to take a case without having to get out of the mortgage.

You would need to consult a solicitor about this but I would have little hope of success this far out. The time to have done something was the late 1990s unfortunately.

Have you read the message from user above item in times re endownments interesting read what do you think ?

skip_123

Also broker is a big company just slightly changed their name .i will try every advice i can get

ohnonotgmail

skip_123 wrote: »

Thanks we tried to get out of it but unfortunetly husband got illness which no other life insurance company would take us im not sure thats legal.i will give those numbers a call in morning .ive been trying over years got in touch with national credit mentioned ladys name he said he had heard of her name .(no longer works there)

Life insurance companies are under no obligation to provide cover. Why would you think it is illegal?

skip_123

ohnonotgmail wrote: »

Life insurance companies are under no obligation to provide cover. Why would you think it is illegal?

We approached bank n broker to leave change mortgage but we couldnt the insurance company had already took us .my husband was told he had MS few months after it was so confusing

newacc2015

My suggestion is ask for a data protection request from the bank. The bank has to hand over all their files on you. You might find something interesting...