Stalled endowment process

By THIS IS MONEY
Updated:

 

I FILED a mortgage endowment complaint with Legal & General 15 months ago. They keep sending me a standard letter saying that investigations are ongoing but no sign of a decision. I have tried pushing them and even got the Financial Ombudsman involved but to no avail. Surely I am entitled to have received a decision by now? JR, Southport

David Hollingworth at mortgage brokers London & Country says: Companies who sold endowment policies must have a formal process in place to handle complaints relating to misselling. Anyone making a complaint is required to go through the firm's complaints process and if they are

unhappy with the outcome they can seek recourse from the Financial Ombudsman.

Unless Legal & General is awaiting further information from you, 15 months is certainly an age for dealing with a complaint. Legal & General's complaints procedure should state timescales for dealing with complaints - check the paperwork. Try to establish what is delaying the process and push L&G for a response.

Keep copies of all correspondence and make note of the dates and times of phone calls and who you speak to. If you get no further and assuming that the Ombudsman could not help as you are yet to reach 'deadlock', try asking the

Financial Services Authority (020 7066 1000) for help.

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