Bank admin charge for changing home insurance

sadesd

My mortgage company (bank) is trying to charge me an admin fee of £25 because I've changed home insurance companies even though the insurance companies I'm changing from and to, are nothing to do with the bank. This stinks, as effectively you either pay a higher premium or get charged for finding a more competitive deal. Even though it's in the Ts&Cs of the mortgage company can anything be done about it?

Astaroth

No.... but if you mention it to the new insurer before buying some will refund it for you... obviously a bit late for you now and this year.

JPanter

The Alliance and Leicester did exactly the same to me. I found out that the policy with Zurich insurance they wanted me to take out through them was £100 cheaper if I went direct. When I complained they said that I was free to make my own arrangements but they would charge me £80 admin fee if I did. So they want to rip you off by taking a greedy cut when you get your insurance through them then threaten to penalise you if you want to make your own arrangements. Greed, absolute greed!

sadesd wrote: »

My mortgage company (bank) is trying to charge me an admin fee of £25 because I've changed home insurance companies even though the insurance companies I'm changing from and to, are nothing to do with the bank. This stinks, as effectively you either pay a higher premium or get charged for finding a more competitive deal. Even though it's in the Ts&Cs of the mortgage company can anything be done about it?