Call us on
0370 1500 100
Elizabeth Norris successfully acted for her client in a claim against a large financial plc for shortfalls on three endowment policies that the client had purchased whilst in their employ.
The client had formerly worked for the large financial PLC and had taken advantage of a staff incentive scheme during his employment which entitled him to interest only mortgages at beneficial rates. Part of this scheme meant that he also took out three endowment policies as vehicles for repayment of the mortgages. He was not however advised of any risk whatsoever that the endowment policies may not be sufficient to repay the mortgages on maturity. The documentation he received regarding the endowment policies did not sufficiently detail the risks present with the types of policies. The client later received a number of red warning letters that warned of a high risk of a shortfall on all three policies.
Proceedings were issued on behalf of the client as it had not proved possible to conclude a settlement. Shortly before trial the defendant agreed to make good any shortfalls suffered by our client and fully recompensed him for his legal costs incurred. The client was delighted with the result and has meant that he has no concerns about finding additional money on maturity of his mortgages in the years to come.
Back to Client Stories
Simply complete the form below and one of our experts will get back to you.
This data will only be used by Irwin Mitchell for processing your query and for no other purpose.
Contact us today
For a free initial consultation
Use our form
Request A Call Back
Enter your details below and we'll call you back, at a time of your choice.