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I have been offered £15,698.44 (surrender value being £10,476.15) for

an endowment policy from Friends Provident which I complained I was

mis-sold. The policy was to cover a mortgage of £34,654 taken out in

August 1987.

This will leave me with a mortgage of £18,955.55, which will be

converted to repayment to pay off the mortgage in August 2013. I have

calculated that this will give me a monthly repayment figure of

£216.75. Interest only is £108, I will no longer need to pay the

endowment premium of 49, but will need life cover at about £6. This

will mean my repayment will increase by £65.75. A total of £6,838

over the remaining period.

The figure of £15,698.44 is what Friends Provident say I would have

paid off the mortgage so far. What I am finding difficult to

understand is if they are putting me in a position I would have been

in had I taken out a repayment mortgage why do I find myself having to

find £65 per month extra now.

I am having trouble getting someone to check the figures for me. I

have contacted several IFAs none of which can offer help with the

calculations used as they say it requires specialist software. The

sum Friends Provident say we have paid over the years is 52415.15 I

calculate that we have paid about £3,000 more than this over the

years, but I'm not sure this would make any difference to the figure

offered.

I would like to know if this offer is reasonable. I do not want to

complain to the ombudsman and find myself with a worse offer.

THANKS