any help ???

littlefarmer66

My wife died suddenly aged33 we were like any normal couple two kids ,dog and morgage. However devistated i was relived that the kids and me no longer had a morgage how wrong i was !!
We had just renewed our morgage and used a broker that a familly friend had recomended when i contacted the building society to inform them of my wifes death i was informed that no insurance was on the pollicy we had told our broker that we needed it but it seams he did not do it so we still have a morgage :mad: We have tried to contact this man but he does not reply i know deep inside me that it was down to us to check our own policy but thats why we used a broker so say expert :mad: If anyone can help with anything i would be so gratefull as what i can do to make this burden any lighter ?? ps check your own morgage policys now just to make sure your covered.

pps going to kill him if i get hold of him !!!!!

silvercar

Firstly sorry for your devastating loss.

Was your mortgage interest only? If so was there a repayment vehicle? An endowment policy would have included life insurance.

You need to dig out the paperwork from when your mortgage was arranged.

Kez100

Just renewed your mortgage sounds like it was just a new interest rate deal. Whathappened when you first took out the mortgage. Did you buy life assurance or a repayment vehicle then? Did you use a professional to help back then?

Can mortgage advisors help....do your standard questions ask families if they have life cover when they remortgage?

littlefarmer66

forgot to say that this was a repayment morgage with no endowment.
We had just changed from abbey national to the principality bulding soc in order to borrow more for a house extension.

Conrad

Ok this needs to be done properly. You need the file to be out of his control right now.
Forget all the usuall procedures, you want the chief compliance officer to get hold of the file right now and then you need to see if the broker may be liable from the case notes on file.

If it were me I would want that file independantly assessed - perhaps even forensically to see if he's changed the file, removed parts. This can be done - for example ultra violet examination for imprints on pages that are behind other pages to see if anything has been tampered with.

Sorry if this seem ott, but its what I would do IF you think he did tell you he would take care of insurance.

Conrad

To be clear - the compliance officer you need is any that is attatched to the brokers own firm. If he is a one man band and NOT part of a network then you need to go immediatley to the FOS - and explain you want the file right now out of his hands. Beware - the FOS CAN BE VERY VERY SLOW.

Back up everything in writing, special delivery - leave nothing to chance.

dunstonh

Whilst Conrad has gone straight for enforcement action and a bit OTT (as well as incorrect - come on Conrad, you know you cannot go straight to FOS. They will just return the complaint to the company), it should be noted that the any complaint is likely to be rejected. As Conrad has said many times before on here, dont use mortgage brokers for insurance. You dont have to buy any insurance from the broker and its not compulsory to have it.

You complaint will probably fail because you were doing a remortgage not a new mortgage. So, where is the life assurance you took out before your remortgaged? If there was none before then you are almost certainly looking at rejection.

If there was a life policy in place and the mortgage broker told you to cancel before setting up the replacement then he is quite rightly at fault. If there wasnt a life policy before and one wasnt arranged then your situation is unchanged.

It should also be noted that the mortgage company wouldnt know if you have life assurance or not unless you bought it from them. So, I suggest you check your direct debits to see if there is one going to an insurance company as it would be independent from the mortgage.

TEDDYRUKSPIN

littlefarmer, sorry to hear about this. Conrad is correct. The first thing to do is file a complaint. The senior management of that firm will check your file. If he is self employed you will be going directly to him as he is his own boss. No response, and then the financial ombudsman service.

Did your late-partner have any death in service? Can you still afford the mortgage? If not, phone the lender directly and see what they can do for you.