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N&P Mortgage inc building insurance bundled in...
Skiddy
Posts: 1 Newbie
Hi,
Wonder if anyone could offer some advice or has perhaps had similar experience?
I am having a bit of a financial health check which included a few SAR requests, all of which I now have. Back in the early 90s I had a mortgage with N&P (now Santander). My SAR shows me I was paying a monthly insurance premium bundled into the mortgage, which I am adamant was not part of the deal I agreed. I absolutely recall having to provide proof of buildings insurance before they would release the money to the vendor. This was arranged with a third party. Due to the time I have no ‘proof’ of this.
I have written to Santander and their stance is provide proof of your third party insurance and in addition you would be aware of the insurance charges as they would have been detailed on your annual mortgage statement. They also provided Financial Ombudsman leaflet.
I know I have a point here but how do I push this further? My calculations including the annual compound percentage uplift of 8% as standard is around £9k.
Appreciate this is not PPI but is equal I believe?
Many thanks
Wonder if anyone could offer some advice or has perhaps had similar experience?
I am having a bit of a financial health check which included a few SAR requests, all of which I now have. Back in the early 90s I had a mortgage with N&P (now Santander). My SAR shows me I was paying a monthly insurance premium bundled into the mortgage, which I am adamant was not part of the deal I agreed. I absolutely recall having to provide proof of buildings insurance before they would release the money to the vendor. This was arranged with a third party. Due to the time I have no ‘proof’ of this.
I have written to Santander and their stance is provide proof of your third party insurance and in addition you would be aware of the insurance charges as they would have been detailed on your annual mortgage statement. They also provided Financial Ombudsman leaflet.
I know I have a point here but how do I push this further? My calculations including the annual compound percentage uplift of 8% as standard is around £9k.
Appreciate this is not PPI but is equal I believe?
Many thanks
0
Comments
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Appreciate this is not PPI but is equal I believe?
No. Not similar to PPI sales.know I have a point here but how do I push this further?
You need to provide evidence of the home insurance for the period you claim there was dual insurance. That is the accepted method (including by the FOS).
If you have no evidence and cant get it then your complaint is dead in the water.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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