Endowment firms to be queried on complaints

Providers of endowment mortgages are to be asked to reconsider mis-selling complaints that have been...

Providers of endowment mortgages are to be asked to reconsider mis-selling complaints that have been ruled out due to time bar restrictions. The financial ombudsman wants groups to allow these complaints as most people affected were unaware there was a time limit for making a complaint. Changes introduced by the FSA this month mean firms must tell customers that complaints must be logged within three years of receiving their first red letter warning of a shortfall. Firms are also to inform customers six months before the time period runs out. Under previous rules many customers were una...