ENDOWMENTS MORTGAGES MIS-SELLING

Early day motion 93, tabled 9 July 2001 by Paul Flynn (Labour). Signed by 59 members.

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.

Signatures by party: Labour 41, Liberal Democrat 11, Labour/Co-operative 5, Plaid Cymru 1, Scottish National Party 1.