I`ve been stitched up on my mortgage!!!

Arijha

JuicyJesus wrote: »

Indeed, I don't see how anyone could think it would work that way. Were that the case you could buy a £100k house, get the £500k blanket cover and then immediately realise a £400k profit.

Well, £400k less the cost of the petrol and the matches.

obliviously it's a blanket cover, just saying they couldn't have rebuilt it for £80,000 which what it was covered for.

_Andy_

Arijha wrote: »

obliviously it's a blanket cover, just saying they couldn't have rebuilt it for £80,000 which what it was covered for.

Why did you take the policy out then?
And how do you know they couldn't rebuild it for £80k?

Arijha

please mods close this thread, before it turns into a flame war.

As it is obvious that we have been very naive in our actions and all the trolls have been well and truly feed for the day.

thanks to anybody with genuine help especially the guy who said get the forms from the agent.

everybody else can go and find a bridge to sleep under until the next person needs some help and or advice.

hcb42

OP you have had several helpful posts on this thread, it is unfortunate you choose to ignore them all, but that's your choice.

I did look up the previous mortgage rates, as did the other helpful poster who provided some links, and fwiw I dont think your rate was as way out as you might think.

hcb42

Arijha wrote: »

...... because she said we couldn't continue with the purchase with out it from her !!!!!.

Did you not think this was odd? Nothing in the paperwork they send you at this time advising you the insurance had to be through this source?

Arijha

hcb42 wrote: »

OP you have had several helpful posts on this thread, it is unfortunate you choose to ignore them all, but that's your choice.

I did look up the previous mortgage rates, as did the other helpful poster who provided some links, and fwiw I dont think your rate was as way out as you might think.

we have decided to go subject access request to the adviser, under S7 Data Protection Act as somebody said earlier.

thanks for your info.

hcb42

Good luck with that, I dont see it getting very far personally but if you want to pursue it that way it's your choice of course.

Arijha

when it has cost us this much another tenner is neither here nor there.

_Andy_

Not giving you the answers you wanted/sympathy etc does not make me a troll. You basically started the thread saying that the mortgage and every product was wrong/a rip off etc. People have tried to help you (eg me supplying you with helpful links above) and you've just been rude and insulting. How charming.

dunstonh

having read the first 3 pages it seems we were very inexperienced in financial matters but was she not duty bound to act in our best interests?

Nothing said indicates any wrong doing. You used an L&G sales rep. You are only going to get L&G products. Those products are probably around 30% more on a like for like basis than an IFA using the same provider. The tied agent has to recommend what you need. That appears to have been done.

Expensive products or covering your needs is not wrong. Its not ideal which is why general advice is to never use a tied agent. However, there is a difference between expensive and bad advice. The latter has not occurred. The former has.