Mortgage Agency Services Number Five Limited - MAS No.5 - Insurance Problems

DO NOT USE... MORTGAGE AGENCY SERVICES NUMBER FIVE (not that most people were given a choice).

Not to blow my own trumpet - but I do have an excellent credit rating, and have never missed a payment with MAS or anyone else for that matter, but I have STILL had problems with MAS Plymouth Branch.

At approximately the time the rates dropped around 2007 MAS No.5 decided that they needed to see a copy of all their B2Let mortgage holders insurance policys shedules each year to check the policies were in line with the 'mortgage terms'. Fair enough I thought, although they had never needed to before. However, MAS seem to have neglected to put the necessary administration systems in place to cope with their own demands.

MAS have managed to loose all three of the last Insurance Shedules that the Halifax had faxed over in the last few months. And have lost them in previous years too. This year, this led to MAS setting up an unessary insurance policy on the mortgaged property to 'protect their interests as lenders'. This policy was £15 a month with an apparently non-refundable £40 set up fee (for the dubious 'administration' apparently) which was all shoved onto my mortgage account to accumulate interest.

No supprise, Instead of trying to help and rectify the situation caused by them, MAS just said unless they recived the shedule there was nothing they could do, but they had been faxed it three times!

Luckily I am with th Halifax and they keep VERY good records, and I was able to send proof (by registered letter and also fax in the end - just to make sure) that I had indeed been insured correctly the whole time and ALSO that MAS had lost the documentation sent, not that it had not been sent at all (as they implied). They say they are now refunding me - we shall see, because this will not be the first time MAS No.5 have broken their word over promises made on the phone.

Interestingly the lady at the Halifax informed me that this happens with MAS more than any other company - I do think this is interesting as MAS DO have their own insurance department and DO give quotes for insurance too. It certianly feels as though they were just trying to get more business by keeping an antiquated administration system that means they can say that they do not recive things, and then simply set up policies that it is VERY hard to get cancelled even when the customer is doing all the right things.

I wonder how many people who could not prodice proof from their insurance companies of lost faxes or other problems fall foul of these MAS charges.

You only have search Google for Creditgate.com and look up MORTGAGE AGENCY SERVICES NUMBER FIVE LIMITED (whole words) and you will see how many Directors have resigned recently. Maybe they are all off to form MAS No.6 to re-line their pockets!

They say they don't have e-mail, how strange - but Britannia and Co-Op do ... and as MAS are an agency/subsidary of theirs AND registered under them at the FSA you can complain to them too, or maybe get them to e-mail your insurance shedules on (if anyone else has encountered this insurance problem)... So please do email - if only to get your revenge a little and make Brittania and Co-Op realise thay cannot just keep these types of companies hidden under strange and unusual names with no high street or internet presence. The Co-Op is meant to be ETHICAL! Registered FSA address and registered email below...

New Century House, Corporation Street, Manchester, Lancashire, M60 4ES
44 01538399399
[EMAIL="michael.gill@britannia.co.uk"]michael.gill@britannia.co.uk[/EMAIL]

And yes if anyones wondering - My mortgage was sold to MAS No.5 by GMAC that other wonderful mortgage provider (when MAS was only under the Brittania umbrella).

The above does contains my opinion but all the facts are true and I think speak for themselves.

I hope this helps someone.