Mis Sold Redundancy Cover

stepha101

Hi all,

When me and my husband got our 1st mortgage in Feb 2009 the mortgage advisor we dealt with sorted out all of our insurances for us. We were clueless being first time buyers and were just really happy to be on the property market! Anyway along with life insurance and buildings & contents insurance, he sold us a redundancy insurance that he said we had to have to get the mortgage as we were in an economic downturn and that if i didn't buy it there and then I wouldn't be able to buy it as they were getting pulled from the market as so many people were claiming from them. We have paid £15 per month since March 09 to present day. Can I claim this as being mis sold and how to I go about it?

Thanks in advance.

dunstonh

e sold us a redundancy insurance that he said we had to have to get the mortgage as we were in an economic downturn and that if i didn't buy it there and then I wouldn't be able to buy it as they were getting pulled from the market as so many people were claiming from them.

The market was declining in that period and today there are barely any providers that still offer it. So, the adviser was correct.

Can I claim this as being mis sold and how to I go about it?

It is unclear what your complaint is. The adviser has advised you and was correct in that advice.

An adviser has to advise you what your needs are. This will include telling you what insurances you have as a financial need. So, why do you think you do not need redundancy cover?

boam

What would you of done if one or both of you lost your jobs would you of been able to still pay the mortgage?