Sold insurance but no key facts provided?

amandamilner

My mortgage company asked for copy of my house and buildings insurance. My provider has failed to send me any copy of this and I have had no luck getting through to them (despite them taking my money for it) anyway I explained this to my mortgage company and they contacted them - the insurers said they had never heard of me, anyway, I missed the deadline for submitting my insurance documents to the mortgage company so they have included on to 25 year mortgage - their own insurance, which is more than double the price of what Ive already paid, as well as adding on their £45 admin fee to my mortgage. I am quite disorganised (my fault) and have little time (work/family -old and young - commitments etc etc) so know I should have got the documents in etc, but didnt and didnt get round to sorting out my initial insurers. So I asked the mortgage company to provide me with details of the insurance they have provided and to give me key facts and they say they do not have to. I thought if anyone sold you a financial product they HAD to provide the key facts? Is this not law- how have they got out of this and how can I sort out my previous insurance company that I have already paid and now not sending me details?

dunstonh

So I asked the mortgage company to provide me with details of the insurance they have provided and to give me key facts and they say they do not have to.

You will likely be on a bulk policy on which they are the owner of the insurance. Not you. It is to protect them. Not you. So, they dont have to issue you key facts.

how can I sort out my previous insurance company that I have already paid and now not sending me details?

Complain to them and tell them the costs you have incurred because of this.

TrickyDicky101

I would confirm what insurance your mortgage provider has taken out for you because I would have thought (perhaps mistakenly) that it will be only buildings insurance and not contents which means you may not be covered for contents if you cancel your policy with the insurer that you dealt with

GMS

Part of the terms and conditions will state that the property must be adequately insured (buildings)

The lender can place the property on their own block policy and charge the cost to the mortgage account should cover not be in place. As you seemingly failed to provide them with evidence of cover they have placed the property on risk with their insurer, as is their right.