Allied Dunbar Adaptable Life Plan

cmacca

inspired by all the success stories on here but have come up with a situation that I didn't expect.

My parents took out a mortgage in 1991 which seems to have been sold to them by Allied Dunbar, the actual mortgage was with Bank of Scotland, they had to take out an 'Adaptable Life Plan' with Allied Dunbar which was held as collateral security by the Bank of Scotland for the Mortgage. The payments on this were £250.83 per month. In November 1999 the Mortgage was paid off in full and I have letters from the Bank of Scotland stating this, my parents then proceeded to cancel the 'Adapatable Life Plan' with Allied Dunbar and asked for a surrender figure. Allied Dunbar wrote back and said to proceed with the request they needed the notice of re-assignment from the Bank of Scotland, this is where the trail stops, it seems my parents didn't ever get this and Allied Dunbar have never paid them the surrender value of the policy. My Nan had just died and all sorts going on so can't really blame them but I would like to see if I can get the policy paid to them, I know it is them that were at fault so it isnt really a complaint I need to lodge against Allied Dunbar but how would I go about trying to reclaim this back for them ?

dunstonh

it seems my parents didn't ever get this and Allied Dunbar have never paid them the surrender value of the policy.

If the policy was assigned to the bank and the bank never revoked the assignment then Allied Dunbar would not have been able to pay your parents the money.

how would I go about trying to reclaim this back for them ?

ask them. It doesnt need a complaint as there is no wrong doing. It is just a servicing issue that Zurich can deal with very easily.

kingstreet

The solicitor handling the repayment of the Bank of Scotland mortgage should have received the policy document and notice of release from BoS when the charge over the property was released.

Do you or your parents have the old deeds pack, an envelope stuffed full of old conveyancing documents? If so, it may be in there.