Watch out if you are a Co-operative Bank Customer

eslick

Moving our mortgage from the Co-op Bank because our rate term has ended and there are much better rates available. Got a copy of our redemption statement and we had a charge for insurance. Phoned to query this and was told it was for Mortgage Protection Insurance, something I wouldnt pay for or sign for. Also never a mention of this on our yearly statements or any increase in monthly payment letters and I didnt have any policy details from them.

Any way, they are refunding it back in full, havent mentioned to them yet about interest but will shortly.

If you have a Co-op mortgage and dont have Mortgage Protection Insurance it might be worth checking with them in case you are paying for it but never knew.

UK007BullDog

But would you not be comparing your bank statement with your mortgage statement?! It would show a discrepancy. So people please check your statements! Which reminds me I need to call Nationwide and ask them for ours as we have not had one in. :mad:

eslick

Both statement amount was correct, the repayment amount included the MPI, which to be honest I wouldnt know how many people actually check this I rely on the bank to tell me what the payment amount should be.