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Complusary Home & Contents insurance sold with Mortgate
kayb4
Posts: 2 Newbie
Hi I was wondering if I may have a claim against my mortgage provider, when I took out the mortgage in 1998 i was adv that it was compulsary to take the home and content insurance with them for a period of 7 years, this was hughly overpriced ( approx 3 times more than normal insurance quotes) however i was not allowed to get the mortgage without this, does any one know if I can claim this back?
thanks
thanks
0
Comments
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when I took out the mortgage in 1998 i was adv that it was compulsary to take the home and content insurance with them for a period of 7 years
Compulsory insurance is allowed. Indeed, it is still a normal requirement on mortgages. Back in 1998 the lender could insist on it being with them for a deal only. They can still do that today. Although most dont.does any one know if I can claim this back?
If it was a condition of the mortgage deal then no you cannot.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
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