Mis sold Buildings Insurance

RoseyPosey

Hi all,

New to posting to the forum but just looking at the website and was just wondering if the same rules apply if you feel you have been mis-sold buildings insurance when a new mortgage is taken out as they do for mis-sold PPI.

Had mortgage with Kensington Mortgages and when applying for the mortgage was told that I would have to take out the building insurance they signed me up to. It was only many months later that I discovered that I was entitled to take out the insurance with a company of my choosing and not theirs!

Is there a case for reclaiming this insurance?

clear_blu

No.......You have had the few months cover, if your house had burnt down in the meantime you would not have foregone the re-building costs.I agree it is unethical for the mortgage company to lead you to believe that insuring the building through them was a condition of the mortgage. Now that you are older and no doubt wiser allow the insurance to reach the end of one year and renew with someone else if you wish. Be aware that there may be some costs involved with insuring elsewhere and that the company you choose has to be acceptable to the mortgage company.

jonesMUFCforever

A lot of insurance companies will pay you up to £25 if you are charged by your lender to switch insurers.

dunstonh

New to posting to the forum but just looking at the website and was just wondering if the same rules apply if you feel you have been mis-sold buildings insurance when a new mortgage is taken out as they do for mis-sold PPI.

Buildings insurance is compulsory with mortgages so you cannot be mis-sold in the same way.

It was only many months later that I discovered that I was entitled to take out the insurance with a company of my choosing and not theirs!

Is there a case for reclaiming this insurance?

Unless you took out insurance elsewhere and were dual insured then no. If you were to complain you would have to prove you were told you had to had their insurance and no doubt it would be your word against theirs with no evidence and as you have made no attempt to find this out before they would almost certainly reject the complaint.