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Letter of no interest northern rock??
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Mazzer25uk
Posts: 1 Newbie
Hi I have a massively underperforming endowment policy with sun life of Canada. I enquired about cashing it in and have been told I need a Letter of no interest from northern rock as the policy is assigned to them???
Got rid of NR a long time ago and have a repayment mortgage with Halifax. Can anyone please tell me what one of these letters is and how on earth I get one as NR is no more??? Ta
Got rid of NR a long time ago and have a repayment mortgage with Halifax. Can anyone please tell me what one of these letters is and how on earth I get one as NR is no more??? Ta
0
Comments
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Savings type polices like this we designed to repay the capital on a mortgage so the lender's 'interest' in them used to be noted on the policy (assigned).
This means that when you cashed out the lender would have a call on the proceeds if you still owned them anything on your mortgage.
Sun Life just want confirmation that NR now have no claim on the policy.
Start here:
http://www.n-ram.co.uk/site-services/contact-usI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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