Early day motion tabled by primary sponsor Paul Flynn (Labour), on Monday, 9 July 2001, in the House of Commons. It is signed by 59 members in total.

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ENDOWMENTS MORTGAGES MIS-SELLING

That this House is concerned that Financial Services Authority research proves that nearly five million endowment policies may not grow sufficiently to repay their mortgages; regrets that only 10,500 people have been compensated out of at least three million who were mis-sold endowments 'guaranteed' by salespeople to pay off mortgages fully; and calls on the Government to instruct the FSA to launch a mis-selling inquiry funded by companies' shareholders and to write to those facing possible shortfalls with details of how to claim compensation.

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Secondary information

Type

Early day motion

Reference

93 

Session

2001-02

Subjects

Compensation Mortgages Misrepresentation

Link

View this Early day motion on www.parliament.uk