Have we any chance of reclaiming???

Eileenred88

Hi everyone! After months of lurking this is my first post! Me & my husband are slowly geting our finances back on track. Neither of us are very money savvy as you will gather when I say that we have only just realised today that for the past 15 years plus we have been paying a yearly buildings house insurance of about £300 to the Halifax (in with our mortgage) which was unnecessary as this insurance is included with our monthly maintenance charge on our flat. My husband said that when he took out the mortgage with The Leeds (as it was at the time) they said he had to have buildings insurance & said they could give him the insurance he needed. Does anyone think we have a cat in hell's chance of reclaiming some of the monies paid over the years? We just blindly accepted this as part of our mortgage & I could cry when I think of all the money we paid out for nothing. Thank you for any help or advice.

di3004

Eileenred88 wrote: »

Hi everyone! After months of lurking this is my first post! Me & my husband are slowly geting our finances back on track. Neither of us are very money savvy as you will gather when I say that we have only just realised today that for the past 15 years plus we have been paying a yearly buildings house insurance of about £300 to the Halifax (in with our mortgage) which was unnecessary as this insurance is included with our monthly maintenance charge on our flat. My husband said that when he took out the mortgage with The Leeds (as it was at the time) they said he had to have buildings insurance & said they could give him the insurance he needed. Does anyone think we have a cat in hell's chance of reclaiming some of the monies paid over the years? We just blindly accepted this as part of our mortgage & I could cry when I think of all the money we paid out for nothing. Thank you for any help or advice.

Hi Eileen and welcome.;)

I think this one would be for Dunstonh to answer.

I understand its been some years ago, but if you feel like you should complain on this matter there is no harm in doing so.

I will come back later to bump up until someone has been along to help you, hopefully though Dunstonh will be along to help you through this.

For your information on reclaiming for mis sold PPI here is a link below with guidelines, and templates, good luck.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

maxdp

Eileenred88 wrote: »

Hi everyone! After months of lurking this is my first post! Me & my husband are slowly geting our finances back on track. Neither of us are very money savvy as you will gather when I say that we have only just realised today that for the past 15 years plus we have been paying a yearly buildings house insurance of about £300 to the Halifax (in with our mortgage) which was unnecessary as this insurance is included with our monthly maintenance charge on our flat. My husband said that when he took out the mortgage with The Leeds (as it was at the time) they said he had to have buildings insurance & said they could give him the insurance he needed. Does anyone think we have a cat in hell's chance of reclaiming some of the monies paid over the years? We just blindly accepted this as part of our mortgage & I could cry when I think of all the money we paid out for nothing. Thank you for any help or advice.

Hi There
Unfortunately I think it is very unlikely that you can claim this back as it is your responsibility to know what you are paying out, if you see what I mean. If they said you had to have that insurance then if you had told them you had it anyway I am sure that they would only have asked for evidence then not charged you.

dunstonh

15 years ago, insurances were compulsory. They are not today but any complaint would be based on rules and legislation that was in place at the time.

Back then, your lender checked the insurance to see if it met their criteria. So, it may be that the block policy didnt and that you had to have your own one. Or it could be that it was an oversight and you should have only had contents insurance.

You should raise it with the lender. It doesnt need to be a complaint to being with. Often going straight to complaint takes longer on something that can be resolved with a bit of research. However, if the lender starts fobbing you off or cant explain why or doesnt really want to know then you go to complaint. I have seen refunds given on similar things like this. So, its possible and none of them required a complaint.