Endowment and mortgage

[jandalsinsummer]

Does anyone here have or had an endowment to pay their mortgage? Can you remember how it was paid out? Did you ask for it? Did the bank ask the endowment company? Did they pay it automatically?

I am having enormous trouble getting my endowment out of Aviva who are refusing to pay me or the bank and I’m just wondering how it usually works? I did ask Aviva last time I spoke to them and they said they didn’t know they had never done it before.
TIA

When my endowment policy matured, they contacted me and requested ID and details of my bank. Within 10 days I had received the money. It was a very straight forward process. I had already paid off my mortgage so i didn't have to use these funds.

Thank you
I submitted all that over 18 months ago and they are just refusing to pay me said they would pay the building society but havn’t and we have been going round in circles ever since!

Just paid it into our bank account. I was cross about the first endowment as there was a demutualisation payment which they paid to DH even though I paid the endowment every month.

Do you still have a mortgage, is there a shortfall and have you filled in the paperwork for how you will repay it?

Complain

Whats the situation with the mortgage has it been paid off or not?

Hi yes mortgage just extended it because we can’t get the money, it’s tiny though, shortfall yes not so small. I can cover it easily though.

filled in paperwork multiple times first to pay me they wouldn’t accept it then they promised to call building society but didn’t, most recently they have resent paperwork to pay me (they won’t though it’s assigned to building society)

Building soc have finally contacted them and promised to update me if they get any money.
i complained to aviva this afternoon I received a rubbish letter telling me it’s all my own fault and saying there is no compensation.

i am writing to the ombundsman

i just wondered what was normal really

When I say tiny I bought a tiny house yeats and years ago shortfall wouldn’t pay for most people’s summer holiday!

I have been aware of it and saving for it!

Tell them this a wholly unsatisfactory amount of time taken to resolve the matter and you'd like a copy of their complaints procedure. Follow the complaints procedure providing as much evidence as you can in the given timeline between your first contact with them to now, then if you don't have a satisfactory response you can take your case to the Financial Ombudsman Service. They will give you details on how to do this if they don't uphold your complaint.

Aviva are monumentally crap. Took them over a year to acknowledge my husband’s death and subsequently deal with the pension. That was despite my financial advisor stepping up and getting very firm and threatening further action against them. So good luck expecting anything from them in the near future.
i would suggest maybe see if you can escalate this to the financial ombudsman? If the building society get nowhere.
But yes ours paid out as @Parky04 said. We didn’t have a mortgage by that point though. We did have to send a copy of the paid off mortgage papers. (A receipt basically!) So I would expect them to payout directly to the building society instead.

Mine was just paid into my account at the end of the term, there was some paperwork to be done but nothing that caused a delay.

I am very much of the time when endowments were "the thing" and it was eventually decided that I had been mis-sold. In the meantime though, I took steps to limit the shortfall and along with falling interest rates, ended up paying off my mortgage early. When the endowment eventually matured, I put it straight into savings (along with the compensation).