View more on these topics

Consumers log on to CA website on endowment mis-selling

Almost 400,000 consumers have gone on to the Consumers&#39 Association&#39s since its launch four months ago.

The website offers information on mortgage endowment mis-selling and how to get compensation, and 28,000 people have used the letter generator to draft a complaint.

The CA has launched a new questionnaire on its website today to assess the quality of the complaints process. It will help to determine whether people have understood the complaints process and trusted the companies to do a thorough investigation; if companies have been responding to consumer complaints within the eight-week deadline, and whether consumers were satisfied with the level of compensation they received.

CA director Sheila McKechnie says: “With the deadline for complaints drawing near for many consumers it is great to see so many people seeking information on mis-selling and writing letters of complaint. If you have yet to complain, you cannot afford to delay -get that letter in the post.

“With up to five million consumers who may have been mis-sold their endowment, it is vital that the complaints process in place is effective and comprehensive. We are calling on all consumers who have been through the process to come back to our website and fill in our questionnaire so that we can expose any problems.”


My mortgage week

Monday: First day back in the office after the Christmas break. Feeling fully refreshed notwithstanding the fact that I had to stand on the train for the 50-minute journey. A new year and fresh targets to discuss in my first week with the six members of my team, so an early start is the order […]

Future does a U-turn on lending rules

Future Mortgages has reversed changes to its second charge lending criteria after brokers and packagers began to query the new rules introduced by the sub-prime lender. A director of one packager told Mortgage Strategy: “Future is asking us for two years&#39 proof of residency on second charge deals even if the customer is on the […]

OFT publishes guide on legislation

A new guide to help businesses understand consumer and competition legislation has been published by the OFT. The guide, Running a Business, outlines the legislation under which the OFT has powers and responsibilities. It summarises laws that apply to all businesses from large companies to sole traders covering issues such as: • Anti-competitive agreements• Abuse […]

TSB confirms sub-prime entry

Lloyds TSB is to take its first steps into non-standard mortgage lending next month after agreeing a pilot referral deal with Kensington Mortgage Company and Preferred Mortgages. Lloyds TSB is one of the few high street names with no presence in the non-standard mortgage market but the pilot, set to run from the end of […]


News and expert analysis straight to your inbox

Sign up