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Halifax - TMPP - Just taken new mortgage
ConDem1986
Posts: 1 Newbie
Hi - I have a query regarding the TMPP run by Halifax. I recently moved my mortgage from Halifax (however its still within the Lloyds Group).
Whilst going through the process my mortgage advisor (employed by Lloyds) asked about my mortgage protection. I sent him the papers from Halifax, the TMPP covers life and critical illness. He called me back and asked was there a specific reason why I had increasing term insurance? I didnt understand and he explained that usually a repayment mortgage is covered by decreasing life insurance in the amount of the mortgage. He couldnt understand why I had been sold an increasing life insurance policy. There were no special circumstances. The mortgage is my name only but I live with my long term partner who was not working at the time and hasnt since (2006).
The advisor who arranged my current mortgage told me that he thought I should consider making a complaint to the Halifax for misselling (even though he works for another part of their group) .
Do you think I should take this up with the Halifax and would I be eligible for compensation for misselling?
Thanks
Whilst going through the process my mortgage advisor (employed by Lloyds) asked about my mortgage protection. I sent him the papers from Halifax, the TMPP covers life and critical illness. He called me back and asked was there a specific reason why I had increasing term insurance? I didnt understand and he explained that usually a repayment mortgage is covered by decreasing life insurance in the amount of the mortgage. He couldnt understand why I had been sold an increasing life insurance policy. There were no special circumstances. The mortgage is my name only but I live with my long term partner who was not working at the time and hasnt since (2006).
The advisor who arranged my current mortgage told me that he thought I should consider making a complaint to the Halifax for misselling (even though he works for another part of their group) .
Do you think I should take this up with the Halifax and would I be eligible for compensation for misselling?
Thanks
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