Please help

Judge_Dredd65

I was advised when changing my mortgage to take out an insurance against unemployment and disability, I was self employed at the time. The insurance is only for a seven year period and cost me a one off payment of £9,870. I was told i needed to take out this policy or i would not be able to switch my mortgage can I claim this money back? Please help, Thanks in advance

di3004

Judge_Dredd65 wrote: »

I was advised when changing my mortgage to take out an insurance against unemployment and disability, I was self employed at the time. The insurance is only for a seven year period and cost me a one off payment of £9,870. I was told i needed to take out this policy or i would not be able to switch my mortgage can I claim this money back? Please help, Thanks in advance

Hi there

I expect Dunstonh will help on this for you.;)

dunstonh

I was advised when changing my mortgage to take out an insurance against unemployment and disability, I was self employed at the time.

Seems like good advice.

The insurance is only for a seven year period and cost me a one off payment of £9,870.

However, that isnt. That is single premium and there is no reason for single premium with mortgages.

I was told i needed to take out this policy or i would not be able to switch my mortgage can I claim this money back?

Yes you can as its a blatent mis-sale. You cant get an easier complaint.

You should have been sold a monthly premium, pay as you go, MPPI. You would be covered for the whole term and you would not have paid interest on the premiums.

Judge_Dredd65

Thank you for your advice, can i use martins template letters to start my claim?

dunstonh

You can use template letters but personalise it a bit and make sure all irrelevant points are removed. Template letters have lower success rates than personal letters. A complaints handler getting the 20th identical letter that week are only human and they will look at your complaint less favourably than a personalised complaint.

Dont include things that dont apply as that can damage your complaint. I have said that before but I just read an FOS publication and it showed a case that ruled against the consumer as there was no evidence of wrong doing (as is very often the case) and the consumer had supplied inconsistent information whereas the adviser has supplied good quality records. The FOS went with the adviser.