How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Ash Your Own Question

Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

I believe I may have a legitimate claim against Abbey National

Resolved Question:

I believe I may have a legitimate claim against Abbey National et al for mis selling a life assurance policy in 1994 when a previous endowment matured. I was sold a 20 year term policy which expires in 1995 which cost £50 per month for twenty years with no residual value after April 1995.
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

When did you last make a payment in relation to this product please?

JACUSTOMER-5c1izsv9- : March 2014.
Alex Watts : Ok. Have you been to the ombudsman yet please?
JACUSTOMER-5c1izsv9- : NO
Alex Watts :

Ok.

Alex Watts :

First you need to complain to Abbey (Santander) regarding the mis-selling

Alex Watts :

They will investigate the matter using the corporate complaint procedure

Alex Watts :

If you are not happy with the response then you can then take it to the Ombudsman

Alex Watts :

They are independent and offer a free service, but will have expected you to have complained to Abbey first

Alex Watts :

Their website is: www.financial-ombudsman.org.uk

Alex Watts :

Or you have the option of taking the matter to Court

Alex Watts :

 


You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this recorded delivery and keep a copy.


 


If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.


 


The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.


 


If the matter is defended it will be set down for a trial. If the claim is for £10,000 or less it will be a small claim and you will not need representation. Over £10,000 you would need legal representation


 


Can I clarify anything for you about this today please?

JACUSTOMER-5c1izsv9- : This advice is very general and not specific to my particular case. I was seeking an informed opinion regarding the legitimacy of a possible claim for mis selling.
Alex Watts : I can only advise on what you tell me and the steps forward.
Alex Watts : Could you therefore explain in accurate detail the chronology, circumstances, history of the claim including payments and steps you have taken so that I may assist.
Customer: Chronology leading to my contention about mis-selling.
Customer: March 7 1994 ........advised by abbey that my endowment policy No. 368819 with Scottish Life would mature on 9 April 1994. I was recommended to contact their Financial Planning Advisor to discuss options and to make an appointment.
Customer: March 19 1994...............meeting with Advisor(XXXXX XXXXX number10042888) who discussed my circumstances and produced a report covering family protection, retirement, regular savings, capital investment, and wills. The most significant section referred to housing needs and and I include his comments below under this heading.........
Customer: Your mortgage on your home is due to be repaid next month, April 1994, by way of an endowment policy underwritten by Scottish Life. The loan was arrangedin the sole name of Mr. Macphail. Following our discussion it was agreed that the loan will continue on an interest only basis as you intend to move at some time in the future. You do not then expect to require a mortgage. The endowment Policy proceeds willl be paid to you and you have agreed to a new policy for £12,800 in the sole name of Mr. Macphail as a replacement. The new policy will not accrue a value and has been written to age 75 years at your request. As Mrs.Macphail is not party to the mortgage you did not feel it necessary to write any policies for her.
Customer: March 28 1994......Proposal to establish an Abbey National Life Policy for th sum of £12,800 for 21 years on my life for a premium of £50.84 PER MONTH.DISCUSSION RE MY CONTENTION ABOUT MIS-SELLING.1. I BELIEVE THAT MR GRAY WAS AN ABBEY EMPLOYEE SELLING INSURANCE.2. LIFE INSURANCE WAS NOT A PRIORITY FOR ME AT THIS POINT IN TIME.3. AS A CLIENT / CUSTOMER MY REQUIREMENTS WERE NOT PROPERLY CONSIDERED AND THE EMPHASIS WAS ON GAIN FOR ABBEY NATIONAL.4. HAVING PAID £50 PER MONTH FOR 20 YEARS I I GET NOTHING IN RETURN.5. ABBEY USED THE MATURING DATE OF MY PRIOR ENDOWMENT AS AN EXCUSE FOR SETTING UP THE REVIEW WITH THE INTENT OF SELLING ANOTHER POLICY.
Alex Watts : Have you complained to Abbey yet please?
Customer: NO
Alex Watts :

May I ask why not?

Customer: I AM TRYING TO OBTAIN AN INFORMED OPINION ON MY CONTENTION OF MIS-SELLING.
Alex Watts :

Did you know you were getting life insurance?

Customer: I WAS NOT LOOKING FOR LIFE INSURANCE AT THAT TIME AND SINCERELY XXXXX XXXXX I WAS SOLD A PRODUCT THAT I DID NOT NEED.
Alex Watts :

Did you know it included life insurance?

Customer: I knew it was life insurance but as I said previously that is not something I was looking for at that time.
Alex Watts :

You may have a claim in terms of mis-selling. It is the duty of a financial adviser to give the best advice in relation to your circumstances which may not be to recommend in house products.

Alex Watts :

If you were sold something that was not required or needed then yes you would have a claim in terms of mis-selling/

Alex Watts :

If your requirements were not properly considered or met then this clearly helps you claim.

Alex Watts :

As you know you had an existing policy - it appears they used the mature date with the aim of selling you more products which you may not have needed.

Alex Watts :

So yes, I do consider that you may have a claim against the bank

Alex Watts :

Can I clarify anything for you about this today please?

Customer: What further help can you provide to proceed. Should I now employ a solicitor to compose a letter to the insurance Co.
Alex Watts :

Not at this stage, as this may not be a recoverable cost.

Alex Watts :

You first need to raise this with the Bank formally.

Alex Watts :

If they reject, then go to the Ombudsman

Alex Watts :

If that is rejected then you will need a Solicitor, but probably not at this stage

Alex Watts :

I can not act for you so we are unable to act, as it is against site rules.

Alex Watts :

But do not employ a Solicitor yet as this is a cost

Alex Watts :

Can I clarify anything else?

Customer: Is there a pro-forma type letter available to help someone like me to initiaite the process with the insurance co..By the way Abbey was taken over by Santander and sold on to Phoenix and eventually taken into LonXXXXX XXXXXfe.
Alex Watts :

Unless you can find one online I do not think so.

Alex Watts :

You may need to compose this yourself.

Alex Watts :

But you seem perfectly capable of rehearsing the facts here, so I should not think it would be a problem for you

Customer: You seem to think I have a case that would justify a claim but I dont know what the critical points would be in the argument.
Alex Watts :

The fact that you did not ask for the product, you did not need the product and that your needs were not properly assessed.

Customer: Would you be able to review a draft letter of complaint and advise me.
Alex Watts :

You would need to list that as a new question but yes

Alex Watts :

Can I help with anything else?

Alex Watts :

 


If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.


Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.


Please bookmark my profile if you wish for future help: http://www.justanswer.co.uk/law/expert-alexwatts/

Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience: Solicitor with 5+ years experience
Ash and other Law Specialists are ready to help you

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.co.uk/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.co.uk/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.co.uk/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.co.uk/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.co.uk/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.co.uk/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.co.uk/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice