Standing order confusion

newbutold

YorkshireBoy wrote: »

It's rather worrying if people don't know the difference!

I am surprised at the number of people I come across that don't know the difference between a SO and a DD :eek:

jonesMUFCforever

noh wrote: »

I didn't think it would be buildings insurance because there would be a renewal invitation and policy document sent every year. I would hope that the OP would be aware of that.
If the amount of premium paid was less than that required the insurer would have written informing the OP.
For those reasons I think that it was a long term insurance contract with a level premium such as life insurance.

Not necessarily old style building society mortgages used to have buildings cover included - in those days you adjusted payments once a year. Your insurance premium was part of your mortgage premium.

noh

jonesMUFCforever wrote: »

Not necessarily old style building society mortgages used to have buildings cover included - in those days you adjusted payments once a year. Your insurance premium was part of your mortgage premium.

Before my time.
I know that was once the case. I suspect the practice stopped more than 25 years ago. I got my first mortgage in 1985 the building insurance was separate then.
Anyway the OP states that it was a separate payment. The mortgage payment has stopped as the mortgage is paid.

Kizzy78

MisterMotivated wrote: »

It could also be mortgage payment protection insurance. The OP needs to clarify what the insurance was for and if it was actually paid standing order or a direct debit.

It was a mortgage payment protection insurance and it was a standing order.

jonesMUFCforever

Halifax could not stop payment made under a standing order.
You need to argue the case with them that you paid off your mortgage - rather than remortgage elsewhere. A reasonable person would see your point of view - I think you should get a refund.

YorkshireBoy

Kizzy78 wrote: »

It was a mortgage payment protection insurance and it was a standing order.

But who was the recipient?


I'm thinking the cover was provided by a 3rd party and maybe Halifax merely introduced you (and then washed their hands having pocketed the commission)?