£2.3bn paid out in mortgage endowment compensation

The FSA has created a mortgage endowment section on its website with key facts and figures about the progress made. Since 2000 the FSA has taken enforcement action against 10 firms in relation to mortgage endowments. It has also carried out supervisory work, ranging from data collection and visits to monitor firms’ performance, to requiring some firms to review past files. The regulator has updated its consumer factsheets to reach consumers who think they cannot afford to deal with their shortfall. Since 1999 it has distributed more than 32 million endowment factsheets, either direc...