ASU included free

We took out a mortgage with Intelligent Finance, December 2000 for 7 years. I have documentation that states they included ASU free to the end of December 2000. This was then extended several times. up to December 2001 at least. All of which I have letters confirming this. I also have no proof this ever finished.
I now wonder if we were actually paying for this but it was hidden in our mortgage rate? It is not something we needed or were asked whether we would like. It was automatically included. The letter states "when you opened your plan we told you that you would receive Free ASU cover on all eligible products we are now extending this" etc etc.
I cant find anywhere that says whether we have a claim or not? My main question is, could it have been charged as part of the mortgage payments and hidden there? as the saying goes nothing is free!

Many Thanks for any advice

Comments

  • [Deleted User]
    [Deleted User] Posts: 26,612
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    Annette_2 wrote: »
    I now wonder if we were actually paying for this but it was hidden in our mortgage rate? My main question is, could it have been charged as part of the mortgage payments and hidden there?
    While payment protection insurance was often mis-sold, it was never "hidden". That's a myth sponsored by claim companies.

    As your documentation shows, you had the insurance for free and chose to extend the offer several times.

    You won't ever get a refund of something you never paid for I'm afraid.
  • dunstonh
    dunstonh Posts: 116,040
    Name Dropper First Anniversary Combo Breaker First Post
    Forumite
    We took out a mortgage with Intelligent Finance

    Their mortgages were typically arranged via brokers. if yours was, then this is pre-regulation.
    I now wonder if we were actually paying for this but it was hidden in our mortgage rate?

    Not possible. That is a myth and just cannot happen.
    It is not something we needed or were asked whether we would like. It was automatically included.

    it was free. So, why wouldnt you want it?
    I cant find anywhere that says whether we have a claim or not?

    a) you are pre-regulation - so it wouldnt matter if you did
    b) it was free. So, a refund of nothing is nothing.
    My main question is, could it have been charged as part of the mortgage payments and hidden there?

    No.
    as the saying goes nothing is free!

    Not a true saying though. As free means free. However, it is usually cross-subsidised by raising money in other areas.
    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.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards