N&P, Abbey National, Santander

Spencie

When my wife and I took out our mortgage it was with N&P. They subsequently were taken over by Abbey National who themselves were absorbed by Santander.

The original mortgage product,Homepack was the name I think, had a payment protection part bundled into it. We were told that this would provide protection for our mortgage for up to two years should my wife or I become redundant. At the time of taking out the mortgage both my wife and I were in secure well paid jobs and therefore really didn't need this type of protection. However for the sake of security the product was purchased in its entirety. We were not informed that other payment protection products were available at the time of taking out the mortgage.

Has anyone elase come across this situation where their mortgage provider has changed three times or more? I am concerned that the relevant paper work may be missing/lost.

Any thoughts/comments gratefully received.

Thanks

magpiecottage

Spencie wrote: »

When my wife and I took out our mortgage it was with N&P. They subsequently were taken over by Abbey National who themselves were absorbed by Santander.

By N&P you clearly mean National & Provincial Building Society, rather than Norwich & Peterborough.

At the time of taking out the mortgage both my wife and I were in secure well paid jobs and therefore really didn't need this type of protection.

If you had not been able to persuade the lender that you had a reasonably secure income and that it was sufficient they would not have made the loan. National & Provincial would only lend 3 times first basic income plus one times the second (and possibly one times regular overtime).

The employees of N&P were also in "secure" employment in those days but the takeover by Abbey National saw branches closed and jobs lost.

So that is not a reason for a complaint to be upheld.

However for the sake of security the product was purchased in its entirety.

That sounds good advice to me.

We were not informed that other payment protection products were available at the time of taking out the mortgage.

Again no grounds for complaint there. They were under no obligation to.

It is also possible the cover was a condition of the loan.

Has anyone elase come across this situation where their mortgage provider has changed three times or more? I am concerned that the relevant paper work may be missing/lost.

It may have been destroyed in order to comply with the Data Protection Act but, in any case, you seem to have no grounds for complaint.

dunstonh

At the time of taking out the mortgage both my wife and I were in secure well paid jobs and therefore really didn't need this type of protection.

No such thing as a secure job as many have found out. No grounds for complaint there.

We were not informed that other payment protection products were available at the time of taking out the mortgage.

There has never been a requirement to do so. So, no grounds for complaint there.

Has anyone elase come across this situation where their mortgage provider has changed three times or more? I am concerned that the relevant paper work may be missing/lost.

I would be more concerned that you have no grounds for complaint.