Mortgages

If you do there’s a chance it may not be enough to repay your mortgage at the end of its term.

If you’ve been reading the financial sections of the newspapers you may already know this. If you recently received a ‘red letter’ from your endowment mortgage lender then you’ll definitely know. You need to act now to meet the potential shortfall when your endowment matures.

That’s the bad news. The good news is that by acting now you can do something about it. Read on to learn how…

Complaints procedure

Are you unhappy with the way your policy was sold to you in the first place? If so, you have the right to make a complaint, provided you do it within three years of receiving your first red letter. If you don’t complain within 3 years, then your complaint may be rejected, no matter how justified your case.

Who should you complain to?

You need to complain to the company or person (perhaps a financial advisor) that sold you the policy originally, which may well be different from the company that actually issued the policy. Explain your situation, tell them that you want to make a formal complaint, and they should give you a complaints process to follow.

For advice

You could talk to the Citizen’s Advice Bureau (there is no central number but your local branch should be in the phone book) or visit their web site: www.citizensadvice.org.uk. Or you could try the Financial Services Authority on 0845 606 1234* or www.fsa.gov.uk/consumer. Unlike the Citizen’s Advice Bureau, the Financial Services Authority cannot give you one-on-one advice, but as the regulator of all financial services companies it can provide you with detailed fact sheets and other information.

And… why are we telling you all this

We’re proud of our mutual status – and that means looking out for our members’ interests no matter what the circumstances.

If your mortgage is with Britannia, or you wish to talk about moving your mortgage to Britannia, simply call us on 0845 129 5091* (lines open 8am - 8pm Mon-Fri; 9am - 12 noon Sat) or visit your local branch.

Calls from a BT Together landline will cost no more than 4p per minute plus a call set up fee of 6p. Mobile and other providers’ charges may vary