Consumers still using CMCs for endowment complaints

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Consumers are using mortgage endowment claims companies to save time and help them through what they see as a complex process, according to the latest research from the Financial Services Consumer Panel.

It says two thirds of successful claimants also say they have received value for money from mortgage endowment claims firms, dsspite firms typically charging a fee of between 20% and 30% of the compensation recovered. And just under half of those whose claims were successful, and a quarter of those who were unsuccessful, said they would definitely recommend the services of a mortgage endowment claims firm. Three quarters of those questioned said they went to a mortgage endowment claims company because they read about it or heard about it from an independent source – only one in ten were...

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