Mis sold buildings and contents insurance with mortgage

Betsy123

When my husband & I bought our first house together we had the mortgage withNationwide, part of the mortgage conditions were you had to have their buildings & contents insurance, who
also did the survey on the property. Everything was going fine until we tried to claim on the insurance as the roof had leaked. We were told we could not claim on the buildings insurance as the insurance did not cover flat roofs but could claim for the contents that were ruined due to the leak. In hindsight surely we were mid sold the insurance as the mortgage provider knew the roof was 100% flat as they instructed the surveyor to allow us the mortgage. Could I take up a complaint to have compensation under a mis-sold product?

societys_child

The insurance covered damaged contents.


Did you not check if it covered flat roofs?

SonOf

part of the mortgage conditions were you had to have their buildings & contents insurance,

When was this?

It used to be allowed that you had to have their insurance but it changed in the 90s that they could not insist on their own insurance unless it was part of a pricing deal. (i.e. get x% mortgage rate if you buy their insurance)

In hindsight surely we were mid sold the insurance as the mortgage provider knew the roof was 100% flat as they instructed the surveyor to allow us the mortgage.

Did you actually have a survey or a valuation? Most people just get a mortgage valuation and most of those do not involve a visit to the property. A survey would but they cost more and only people buying larger properties or older properties tend to pay for that and often they use their own surveyor and not the lender as its cheaper. Plus, a lot of lenders no longer offer a survey and only offer a mortgage valuation.

The relevant bit here is that a valuation report may not even have mentioned the flat roof.

Could I take up a complaint to have compensation under a mis-sold product?

How long ago was this? - the 3/6 rule may apply

Also, did you declare that there was a flat roof when you applied for the insurance? It's usually one of the questions on plans that exclude a flat roof.

Keep_pedalling

Flat roofs will leek though ageing which I would put that down to ware and tear which no insurance would cover the cost to repair.

Even on a pitched roof an insurance company would not pay out if you were loosing tiles because the nails were failing through old age

Betsy123

I think I will contact the building society & take it up with them.

Thanks for your comments