Mortgage adviser firms who have agreed compensation for endowment mis-selling are not required to re-open the case even if the client returns after accepting that sum, the Financial Ombudsman Service has confirmed.
Latest edition of Ombudsman News reveals the FOS receives a “small, but not insignificant” number of mortgage endowment complaints where the customer has accepted an offer of redress from the firm but then makes additional complaints. One of those cases highlighted by the FOS includes a complaint from Mrs C who accepted a full and final offer of redress from the firm but later tried to re-open the case through the FOS because she received a re-projection letter which stated the value of her policy had fallen further. The FOS rejected her complaint as she had chosen to hold onto her po...
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