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Lifetime equity problem with Norwich Union / Aviva

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Original Message Added : 23 Aug 2012
 
My parents took out a lifetime equity on their bungalow in 2002, from Norwich Union which is now Upheaval. The amount was £17,000, and now stands at £49,000 in July 2012. My question is when the agent came round, explained in short what it was all about, not giving my parents time to get advise, so they signed the papers, that evening, only glancing at the amount of papers explaining, especially about a gilt.(which wasn't even explained) We have made a complaint to Aviva, and asked that the interest of £8.00 a day be stopped while we try and sort this matter out, which they will not do, and could last for 8 weeks ( it is now 5 weeks) We have tried citizens advice, saga, and an accountant, with no luck. Back in 2002, the ombudsman wasn't contacted by Norwich Union, but now the rules have changed about Lifetime Equity, which could mean that in 2002 there was a lot of discrepancy, and complaints. Please help. From Susan

Susan QuinlivanSusan Quinlivan from
Veriannes Dancewear
Location :Lowestoft
Joined : 19 March 2009
Contact :Send Private Message
Posts :5  ( 1)
Reply : 23 Aug 2012
 
NO IDEA to be honest, but this link seems to have a lot of info about it

http://www.bristol-westlifetime.co.uk/How_Does_Equity_Release_Work

lightweight moverslightweight movers from
Lightweight Movers
Location :Gatwick
Joined : 28 October 2009
Contact :Send Private Message
Posts :497  ( 122)
 
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