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Mortgage Protection Miss Sold?
DarkKnight43
Posts: 15 Forumite
Single Man + No Children + 50% Deposit for Mortgage = Sell him Life Cover so his mortgage is paid off when he dies.
Question is. Is this a case of Miss-selling?:question:
Question is. Is this a case of Miss-selling?:question:
0
Comments
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Question is. Is this a case of Miss-selling?
Potentially yes. However, the FOS have rejected a number of similar complaints on that basis where the firm has successfully argued that a mortgage is a long term contract and its unlikely that you would be single for the whole term.
Being single with a partner would be considered a need for life assurance. Being single, having no partner and no intention to have a partner in future would be a reason for mis-sale.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 -
Potentially yes. However, the FOS have rejected a number of similar complaints on that basis where the firm has successfully argued that a mortgage is a long term contract and its unlikely that you would be single for the whole term.
Being single with a partner would be considered a need for life assurance. Being single, having no partner and no intention to have a partner in future would be a reason for mis-sale.
I was 46 at the time with absolutely no intentions of settling down, still single and loving it. Thanks for your reply. :-)0
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