Advisers dub endowment mis-selling claims 'ridiculous'

Many have reacted angrily to research by Fairinvestment.co.uk, which suggested 87% of endowment policy holders believe they were sold the product under false pretences. One adviser, Dave Walton, says the product was talked up by the media and many clients believed they knew better than their adviser. “I remember editorials in the daily papers singing their [endowment mortgages] praises and highlighting the potential for a lump sum payout after paying off your mortgage,” he says. “I can remember one young couple demanding an endowment mortgage. I worked for the CIS at the time and unfortu...