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Halifax home insurance linked to mortgage
pampam
Posts: 435 Forumite
Halifax home insurance linked to mortgage
I took out a mortgage with the Halifax in 2003.
At the same time I was sold buildings and content's insurance. I was told it would be paid monthly along with my mortgage.
I have contacted the Halifax to tell them I intend to move my insurance to another company. I asked them how much my mortgage payment would be reduced in view of the change.
I was informed that my payment would remain the same as the insurance payments are actually added to a separate "B" loan account each year.
I apparently owe them more than £700.
Can they do this?
This was definitely not discussed with me when I applied for the mortgage.
Any advice greatly appreciated
Thanks
Pam
I took out a mortgage with the Halifax in 2003.
At the same time I was sold buildings and content's insurance. I was told it would be paid monthly along with my mortgage.
I have contacted the Halifax to tell them I intend to move my insurance to another company. I asked them how much my mortgage payment would be reduced in view of the change.
I was informed that my payment would remain the same as the insurance payments are actually added to a separate "B" loan account each year.
I apparently owe them more than £700.
Can they do this?
This was definitely not discussed with me when I applied for the mortgage.
Any advice greatly appreciated
Thanks
Pam
0
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