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Build Store mortgage ..compulsory life insurance policy
farghi
Posts: 6 Forumite
Hello everyone, a quick question to all knowledgeable contributors, I have a mortgage from Build Store. It was a self build mortgage and they conditioned the mortgage forcing us to take a life insurance policy. Is this possibly actionable in the form of a claim
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Comments
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If the insurance was a condition of a particular mortgage deal then it was a condition. It would only be an issue if you were told it was compulsory when it actually wasn't.
Otherwise, how would life insurance be mis-sold? Are you immortal?
What year did your mortgage begin? Who sold it to you?0 -
If it's a condition of the mortgage, then it can't be mis-sold.
To actually claim on a life insurance policy, you may have to die first.0 -
There is nothing wrong with requiring insurance as a condition of borrowing. There was a change in the early 2000s that the lender could not insist on their own linked product any more but apart from that, it is still allowed.0
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Thanks all for the replies I'll park this one under " If you dont ask?...."0
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