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  • FIRST POST
    • Andy_Swizz
    • By Andy_Swizz 7th Sep 17, 12:55 PM
    • 1Posts
    • 0Thanks
    Andy_Swizz
    Northern Rock jiob loss protection
    • #1
    • 7th Sep 17, 12:55 PM
    Northern Rock jiob loss protection 7th Sep 17 at 12:55 PM
    In 1992 I got my first mortgage for 25000 with Northern Rock,I remember them selling me Job protection insurance incase of redundancy.I remember them telling me at the time it was necessary.It has never crossed my mind that I could make a claim for this.With Northern Rock no more how do I go about looking into this?

    THANKS
Page 1
    • Moneyineptitude
    • By Moneyineptitude 7th Sep 17, 12:58 PM
    • 18,712 Posts
    • 9,969 Thanks
    Moneyineptitude
    • #2
    • 7th Sep 17, 12:58 PM
    • #2
    • 7th Sep 17, 12:58 PM
    Do you have any documentation pertaining to this policy from a quarter century ago? If not, I doubt you'll be able to progress this very far...

    Do note that you'd also need to show the insurance was somehow mis-sold to you if you hope to have it refunded.

    For instance, there would be no point complaining you were told the policy was compulsory if it actually was..
    Last edited by Moneyineptitude; 07-09-2017 at 1:01 PM.
    • dunstonh
    • By dunstonh 7th Sep 17, 3:04 PM
    • 89,518 Posts
    • 55,956 Thanks
    dunstonh
    • #3
    • 7th Sep 17, 3:04 PM
    • #3
    • 7th Sep 17, 3:04 PM
    In 1992 I got my first mortgage for 25000 with Northern Rock,I remember them selling me Job protection insurance incase of redundancy.I remember them telling me at the time it was necessary
    It may have been necessary. In the early to mid 90s, there were a number of mortgage deals that had an insurance cross sale subsidy. i.e. you got a lower rate if you bought the insurance. If it was one of those, then you were not missold.

    If it wasnt one of those, then you will need evidence to support your allegation as its almost certain that NRAM will have anything.

    Do you have any other complaint reasons? (remember this is MPPI. Most MPPI complaints fail. NR only sold regular premium MPPI. So, there was no product failing to rely on. So, if you have nothing but an unprovable allegation and no other failings identified, then it is likely to be rejected).
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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