Buildings insurance tied to mortgage

Lindamallan

Some 15 years age we took out a mortgage and were advised we must take the building societies building and contents insurance, which were very much higher than were available on the open market. We paid a huge amount over the years and I wonder if anyone has any info on whether this is reclaimable just like ppl is these days.

Thrugelmir

Why has it taken you 15 years to review the insurance?

dimbo61

Have you got this in writing ? from your lender?
We had the BS years ago with a £25/50 charge if we used another Insurer but we still saved money.
Challenge your current lender in writing and see what they say

ACG

Back in the day some lenders did insist you took out their insurance with the mortgage... but you never had to take the mortgage out.

Have you not reviewed your mortgage in 15 years?