B
blowtorch
Guest
Bought a Council house in 1997. Bank had a hold on the deeds, and took 2 x Life policies that were assigned to them. I cleared the Home Loan in 2001. I left the deeds and policies for safekeeping with them. I asked if the Policies were now unassigned and was told yes. I took a personal loan out a year later. I told the Bank that I didn't want to assign the Life Policies (worth more than € 230,000) against less than € 20,000 of a loan. They insisted on security and sold me their in-house Lpan Protection. While I was with them signing for the loan, I asked them to double-check that the Life policies were un assigned. 2 years later I consolidated all debts, still less than € 20,000, and again they wanted security, and again I was told that the Life policies had been un-assigned.
It now transpires that the Life policies were never un-assigned. In effect they had security all the time and yet insisted on me taking out LPP / Serious Illness for the personal loans.
Dishonest to say the least, of them. What recourse have I. Can I get back the LPP / Serious Illness premiums, as they already had security?
It now transpires that the Life policies were never un-assigned. In effect they had security all the time and yet insisted on me taking out LPP / Serious Illness for the personal loans.
Dishonest to say the least, of them. What recourse have I. Can I get back the LPP / Serious Illness premiums, as they already had security?