Do I reclaim from 3Xd or Leeds building?
donlou89
Posts: 12 Forumite
Hi,
I hope someone can help me, when myself and my husband purchased our first home 5 years ago we were told we had to take out a policy with 3Xd to secure the mortgage so that if my husband (as the main household earner) was to get sick or lose his job the mortgage would still be paid. So we felt we had to or the house would fal through. Now all the noise with PPI companies we obviously feel misold as we have learnt that we didn't HAVE to take the policy out. So who do I claim this back from? 3Xd as this is who we have been paying or Leeds building society as this is who we were backed into a corner by?
Thank you for reading
Donna
I hope someone can help me, when myself and my husband purchased our first home 5 years ago we were told we had to take out a policy with 3Xd to secure the mortgage so that if my husband (as the main household earner) was to get sick or lose his job the mortgage would still be paid. So we felt we had to or the house would fal through. Now all the noise with PPI companies we obviously feel misold as we have learnt that we didn't HAVE to take the policy out. So who do I claim this back from? 3Xd as this is who we have been paying or Leeds building society as this is who we were backed into a corner by?
Thank you for reading
Donna
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Comments
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Who actually sold you the policy?
Was it a condition of the mortgage at the time?Shampoo? No thanks, I'll have real poo...0 -
3xd do not sell their products directly. So, it wont be them you complain to. I don't believe Leeds sell their products either. So, it wont be them you complain to. So, who sold it to you?
If it was a mortgage broker, then it is very common for mortgage brokers to give free mortgage advice as long as you buy an insurance product via them. This model is allowed as long as the insurance is suitable and fits financial need.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
We did have a mortgage broker and did end up setting up 2 policies, one which we have kept but the 3Xd was completely irrelevant. It must of been the mortgage broker that sold it us.... I just remember being told the mortgage would not be signed off unless we took it out. So if the mortgage broker sold it to us then there is no way of claiming this back? Thank you both for your replies.0
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but the 3Xd was completely irrelevant.
Why is it?just remember being told the mortgage would not be signed off unless we took it out. So if the mortgage broker sold it to us then there is no way of claiming this back?
Mortgage brokers account for under 1% of PPI complaints. Most of which are rejected. If the mortgage broker required the purchase of insurance as part of their free mortgage advice process then it is not mis-sold unless the plan is not suitable.
So, what are your complaint reasons?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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