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Help Commission reclaim
tm1966
Posts: 1 Newbie
Hi
Can any body help please.
In 2004 we took out a mortgage to buy our first house. Currently my mother in law lives there. We dealt with a local mortgage broker, who also arranged life insurance to cover the repayment mortgage. Having not had any personal contact with the adviser. In 2006 we ran into finanical problems and could not afford the £75 and £95 per month for each policy. And they lapsed.
The original mortgage brokers no longer exist having been brought out by another company in 2005.
This new company has written to us demanding approx £2000 for the commission that was taken back from a policy that they did not sell.
Where do we stand. We are on a debt management plan and do not have any spare money a month, it all goes and is allocated to various debts and bills.
Help.
Can any body help please.
In 2004 we took out a mortgage to buy our first house. Currently my mother in law lives there. We dealt with a local mortgage broker, who also arranged life insurance to cover the repayment mortgage. Having not had any personal contact with the adviser. In 2006 we ran into finanical problems and could not afford the £75 and £95 per month for each policy. And they lapsed.
The original mortgage brokers no longer exist having been brought out by another company in 2005.
This new company has written to us demanding approx £2000 for the commission that was taken back from a policy that they did not sell.
Where do we stand. We are on a debt management plan and do not have any spare money a month, it all goes and is allocated to various debts and bills.
Help.
0
Comments
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They cannot enforce it without a fee agreement. Dodgy companies transact in this way.
Ask them for a copy of the fee agreement that showed you agreed to this charge. They wont be able to supply it as there wont be one (well 90% of the time there isnt). They will threaten and be rude to try and force you to pay but without a fee agreement they dont have a leg to stand on.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 -
internetking wrote: »Hi, has anyone ever heard of Cobley Johnson Partners?
I recived an email from them about reclaiming bank charges and PPI and want to know if anybody has used them so i can find out if there any good.
cheers :j
Please dont hijack a thread on an unrelated subject. It's not fair on the OP and creates confusion. Start your own thread.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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