AXA Payment Protection Cover

[Deleted User]

~Brock~ wrote: »

...of course they do. Another £850? Why the hell not....Kerr-ching....thank you very much sir.

I'm not sure it's THAT cynical.:D

lennonc1

Was single and no dependants had cover with work as it is in construction industry so have to have cover with work and building scheme if there was an accident etc! To be honest the full mortgage/package with northern rock was missold I feel, but that's another story lol! The life insurance sold was pushed by NRock adviser and were told it was compulsory, so agreed to decreasing term policy with critical illness. Didn't really look into it much until lately and noticed missing documents including the commission sheet which was paid by us to the insurance agent and only seen this when they sent docs out last week referring to my compliant. In letters said I was living with partner but actually wasnt and am still not! So a few things are wrong and believe I could have got a cheaper deal else where if I knew I could. I completely understand what you are saying above and most claims or complaints like this don't hold up but I am challenging that, I don have high expectations but will see how it goes! Thanks

dunstonh

The life insurance sold was pushed by NRock adviser and were told it was compulsory, so agreed to decreasing term policy with critical illness.

How long ago was this? Life assurance used to be mandatory with mortgages. Although it you took out CI, then the cost of life cover is likely to be negligible (often pence).

Didn't really look into it much until lately and noticed missing documents including the commission sheet which was paid by us to the insurance agent

You didnt pay the commission. The insurer paid the commission. The illustration is issued at point of sale. It is issued again with the cancellation rights direct from the provider. Missing it once is possible. Missing it twice is unlikely as it is two different sources.

So a few things are wrong and believe I could have got a cheaper deal else where if I knew I could.

irrelevant.

I completely understand what you are saying above and most claims or complaints like this don't hold up but I am challenging that, I don have high expectations but will see how it goes! Thanks

The only angle you have scope is the single, no dependents and no partner (with sole mortgage). Although if the CI cover is deemed fair then the life cover premium different is likely to be tiny.

lennonc1

This was in 2007 when I had taken out northern rock together mortgage so I thought it was 120% mortgage and afterwards realised it wasn't it was 95% with an unsecured loan of 19k and if I paid off mortgage or sold would be left with that unsecured loan with an interest jump of 12% with the current 5% so 17% interest on a loan so monthly payment would jump 3 times almost!! Not ideal! I was naieve at 24/25 and didn't understand the terms as it was not explained and I didn't have legal advice which I should have and is my fault. But the life insurance was pushed on me by nram and paperwork have both NRock logo and legal and general so guess they were in cahoots with one another! I completely agree with everything above, was my fault. I have been told I am entitled to redress on the unsecured loan as with the current cca situation so good news with that but now term and conditions of that have changed and have inconsistencies so wonder if it is actually enforceable! Maybe best to seek legal advice do you think.
Thanks again
Ceira x

-taff

Certainly complain about the unsecured loan part, there should be paperwork to back that up.

lennonc1

Have an appointment with lawyer today to speak about this mortgage carry on. I will be due redress of 4k on my insecured loan because of non compliance with cca, they have stated however this will go to the loan. They don't give you the option to have a cheque! And this would then alter a the term of mortgage which I don't want and I'm sure I have some rights as this was agreed by both parties and they wouldn't let me change terms without their consent! Am I right in thinking this??

dunstonh

Have an appointment with lawyer today to speak about this mortgage carry on.

Are you sure? Most solicitors will not go near this sort of thing. It is generally an area that is drummed up by claims companies and they are not solicitors. Many people seem to think that these claims companies are solicitors. Make sure you know what yours is.

I will be due redress of 4k on my insecured loan because of non compliance with cca, they have stated however this will go to the loan. They don't give you the option to have a cheque!

That is quite a logical outcome. If they cannot unforce the debt then it would be logical for the debt to be cleared.

And this would then alter a the term of mortgage which I don't want

The bit being looked at is the unsecured bit. Not the secured debt.