The Consumers' Association has written to Sir Howard Davies, chairman of the Financial Services Authority, calling for immediate action to help consumers deal with mortgage endowment mis-selling.

To promote public awareness and protect consumers, the Consumers Association also believes that the Association of British Insurers should be made to clearly alert consumers to their possible entitlement to redress.

Forum Response: Consumers Association

Sheila McKechnie, director of the Consumers' Association, told ePolitix.com: "With as many as six million home owners unable to pay off their mortgages at the end of the payment term the FSA can no longer afford to sit on its hands. How many more million people need to be affected before the FSA acts?

"We believe there could be a significant proportion of consumers currently facing a shortfall that could have been mis-sold an endowment policy and that should be helped to obtain redress and financial compensation. The FSA must act to help this silent minority.

"As an immediate course of action the FSA must publish the data it holds on the companies and publish a list of worst performer. In the light of this data the FSA must re-evaluate their well-publicised decision not to undertake a wider review of this problem."