Education Policy with Cornmarket?

Hi! I had the Cornmarket rep out trying to sell me all sorts of products - the educational policy was the only one I was interested in. However, my accountant thinks it is not good value and the charges are high. I have also read some negative comments on Cornmarket since my accountant's advice. However, although I only signed the documents a week ago, apparently there is no cooling off period allowed - is this actually legal? It seems I now can't withdraw from the scheme after only one week, and there is also apparently a charge for this advice, which I was never informed of - otherwise I probably would be much more cautious about meeting with them. Any comments/advice welcome.

I've said it before and I'll say it again Elaine, you really do have a most interesting life... to the point where I sometimes wonder if maybe you're a character Brendan or the mods have made up, kind of like the people who write the letters to the agony aunts in the tabloids...!

Basically what you're saying is you allowed yourself to be sold a policy by a salesman, and only thought to check the product out online, and get an independent opinion, afterwards... that's kind of like booking your holiday and then looking on Tripadvisor and going "Ooops"!

mandelbrot said:

you really do have a most interesting life... to the point where I sometimes wonder if maybe you're a character Brendan or the mods have made up,

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Hi Mandlebrot

Thanks for the compliment, but I certainly don't have the imagination or time to come up with the variety of issues which ElaineM reports.

Cornmarket

There is really no need to be so sarcastic and snotty! Investment comments and experience of what investment is part of the remit of this site as I understand it. I presumed Cornmarket was the way to go as most of my public sector colleagues have AVC's or some other product with them. I know there is a cooling off period with other products for instance income protection etc so I don't understand why it doesn't apply here. If you don't want to reply to anything I write again, please don't, but have enough decency and integrity not to be sarcastic and derogratory - maybe that's expecting too much for either of you. Also there might be other people who are thinking of taking out these policies who might need to be aware of this.

Elaine. I have been reading your various postings over the years. From problems with neighbours to extensions to renovating to children to finances to partners etc. You have provided great entertainment in this household. Here she goes again type of thing. Keep up the entertainment!

Elaine

You do seem to be the unwitting victim of evil spirits of some sort
Bullying at work
Tenants dumping hundreds of cigarette butts in garden
Rats in your garden ( feeding on the cigarette butts?)

Being denied promotion
Being promoted into a job which you don't want
Fighting with your neighbours over parking
Neighbours building up against your party walls
Waste trucks knocking down your neighbour's pillars


Those entrusted with the care of your children seem a bit crazy...
The au pair is stealing

Your childminder losing her temper
Then they leave before their contract is finished

The bus driver using foul language



You seem to have many water related problems

Taps freezing

Kitchens flooding

the water gets into your oil tank

mould on the walls

The builders not fixing the pipes properly





You are extarordinarily unfortunate and some people just are unlucky.


But you get great value from askaboutmoney so why did you not ask about Cornmarket beforehand? If you had, you wouldn't have let them near your house.
I sometimes wonder if you are revelling in these problems.




Should Cornmarket have told us that they were owned by ptsb ...

Cornmarket: Service and recourse to Ombudsman - Askaboutmoney.com

AVC via Cornmarket ~ annual fees etc. - Askaboutmoney.com


"it was a very hard sell..."


Cornmarket - GOOD or BAD? - Askaboutmoney.com

elainem said:

However, although I only signed the documents a week ago, apparently there is no cooling off period allowed - is this actually legal? It seems I now can't withdraw from the scheme after only one week,

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If you invested in a straightforward unit linked investment product, you can just stop contributing. They probably have sort of charging system which means that the contributions to date will be all gone in charges, but you will have lost only one month's contributions.

and there is also apparently a charge for this advice, which I was never informed of - otherwise I probably would be much more cautious about meeting with them. Any comments/advice welcome.

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They would have to have given you a letter outlining their charging structure. It would be odd to have a charge for advice and high charges on the product, but I would not put it past Cornmarket.

Elaine,

Chill for a moment. In ALL investment products under the Consumer law, you are entitled to ten days to decide if you want to continue Commonly called a cooling off period. Tomorrow morning write them a letter. Fax and post it immediately and keep your solicitor informed.

You didn't mention as to how much you gave them to start your investments. Check the paperwork you received for your donation ?? You are not obliged to pay for their agents time. I've made enough posts about this type of hard selling. Simplky tell them to go to hell.

If you know other people that have been suckered by this type of cold calling, that is their problem, not yours. There are plenty of other companies offering educational investments -- try Eagle Star, Zurich or others.

But act fast to clear up this mess before it is too late.

Post back with any other queries and we'll try and answer you.