Prior to Contract, the Mortgage Quotation presented to me by First National clearly stated: ‘Your Home-Way Endowment premiums are invested in the Home-Way mortgage fund.' (See Case 1 of Appendix 1/2.)


But none of the premiums are invested in the first year and only 96% of the premiums are invested in subsequent years.


Therefore, the pre-contract statement by First National / Irish Life in their Mortgage Quotation that ‘Your Home-Way Endowment premiums are invested in the Home-Way mortgage fund’ constitutes a Misrepresentation.


(See Section 2.3.1: The Conditions Necessary for the Existence of Misrepresentation. See also Section 2.3.5: Statutory Misrepresentation.)