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Do I have a claim if I was made to take out life insurance when sold mortgage?
db2bru
Posts: 1 Newbie
Hello,
I have been looking through all of the PPI claim stories and am wondering if it is possible to make a claim against Natwest as I was told I would have to take out a Life Insurance policy with them when I got my mortgage. At the time I thought nothing of it but am now beginning to think this was just a line to get me to take it out and in fact I do not need it.
Any help would be appreciated
I have been looking through all of the PPI claim stories and am wondering if it is possible to make a claim against Natwest as I was told I would have to take out a Life Insurance policy with them when I got my mortgage. At the time I thought nothing of it but am now beginning to think this was just a line to get me to take it out and in fact I do not need it.
Any help would be appreciated
0
Comments
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Until the late 90s or even as late as the early 2000s, lenders did require life assurance as part of the mortgage. That was allowed and still is today.
When was this?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
How did yu think the mortgage would be paid off if you popped your clogs then.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
At the time, were you single with no dependents?
If so, and if life assurance wasn't really condition of your mortgage, then you might be able to make a successful complaint - but as Dunstonh says, it used to be pretty common for life assurance to be mandatory.
If you were married / had kids, then it's pretty hard to mis-sell straight life assurance without an investment element.0
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