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Can they do this?
angelheart_sue
Posts: 19 Forumite
I had a letter a week ago from my mortgage company asking for me to forward a copy of my buildings insurance policy schedule, so that they could make sure there name was included on it. They gave me 7 days to do this, but unfortunately in that time I had to deal with my elderly parents, earlier in the week my mum was diagnosed with Parkinsons disease and obviously not only my parents but my brothers and myself are devastated. The last thing I had on my mind was dealing with this letter. I have dug out my policy and the mortgage company named on it was the one my current mortgage company bought out. I received another letter yesterday charging me £40 (which is non-refundable) because they hadn't heard from me. I'm furious I could have been on holiday last week in another country for all they new. What right have they to do this plus when they bought out the mortgage company I originally had the mortgage with shouldn't they have told me to get the insurance policy changed. Please help.:mad:
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Comments
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The FSA requires lenders to ensure ALL thier systems act in such a manner as to TREAT CUSTOMERS FAIRLY, and that senior managment are tasked to ensure every system has been tested to achieve this outcome.
Write to the MD and the compliance department using secure recorded post and use this wording above.
Good luck.0 -
Its too early to go off complianing. Whilst a week isnt a long time, they are valid in making the request. The FOS would never allow just 7 days and the lender will know that. I would expect them to refund it when you speak to them and explain the reasons.
Dont go in all guns blazing as that is not the way to act on the first enquiry. The person at the other end is a human and will have a discretion on this. If they refuse then remind them that the FOS would never allow just 7 days under the TCF guidelines and that you would pursue this to the FOS which would cost them £400.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 -
Im sure if you forward them a copy of the policy and you give them a call to explain the circumstances they will refund the £400
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