MP calls for endowment compensation firms to be regulated

Paul Flynn MP, says he is concerned about the potential for millions of people to “lose out very seriously” to endowment compensations companies that are charging as much as 41% of any compensation paid to consumers who were mis-sold an endowment mortgage. The motion, presented to the House states: ”That this House deplores the misleading claims by the 76 companies offering advice to those seeking compensation for mis-sold endowment mortgages; welcomes the advice of the Financial Services Authority (FSA); some companies make a charge which is usually a large percentage of any compe...