Mass Backing for Endowment Compensation Bid to Close Loophole in Solicitors' Mortgages

The Herald › December 05, 2005

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Summary

OPPOSITION parties have thrown their weight behind a campaign to secure compensation for thousands of Scottish homeowners left out of pocket because they were mis-sold endowment mortgages by their solicitor.

Charles Kennedy, Liberal Democrat leader, and Alex Salmond, SNP leader, urged the government to close a legal loophole which leaves many Scots facing huge shortfalls. Anyone who bought a policy through a lawyer in Scotland before December 2001 does not qualify for a settlement under the Financial Services and Markets Act.

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Extract

Mass Backing for Endowment Compensation Bid to Close Loophole in Solicitors' Mortgages

Last month, The Herald revealed how people cannot claim compensation through the financial ombudsman service. They ...

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