Back in January 2009 I was put on a three day week by my employer. I went down to my local Ulster bank to re-arrange my mortgage. The manager there at the time said they would be able to do this for me. It turned out that I did not require the re-arrangement after all, as my employer went back to a full working week in April 2010.
While in the office of the bank manager, she managed to sell me a Mortgage Repayment Protection policy. This started out at €30.00 per month, but over the course of a full year it rose to €70.00 per month. My wife and I decided to cancel our policy because after reading the policy document we discovered that being on a three day week meant my job was under threat and in these circumstances the policy was not valid. Then earlier this year I heard an article on the PK show on Radio 1 explaining how a lot of these policies were mis-sold and that you could get your money back. As I said earlier I was put on a three day week and there were real fears at the time that my employer would fold completely.
After a few phone calls too and frow and letters from Ulster Bank they have today decided to refund me all monies paid to them plus interest. This comes to just a few euro shy of €700.00. Naturally we are delighted with this result, but was wondering why they were so anxious to clear their debt with us? Has anybody else been down this road and managed to get more money than what they paid plus interest?
While in the office of the bank manager, she managed to sell me a Mortgage Repayment Protection policy. This started out at €30.00 per month, but over the course of a full year it rose to €70.00 per month. My wife and I decided to cancel our policy because after reading the policy document we discovered that being on a three day week meant my job was under threat and in these circumstances the policy was not valid. Then earlier this year I heard an article on the PK show on Radio 1 explaining how a lot of these policies were mis-sold and that you could get your money back. As I said earlier I was put on a three day week and there were real fears at the time that my employer would fold completely.
After a few phone calls too and frow and letters from Ulster Bank they have today decided to refund me all monies paid to them plus interest. This comes to just a few euro shy of €700.00. Naturally we are delighted with this result, but was wondering why they were so anxious to clear their debt with us? Has anybody else been down this road and managed to get more money than what they paid plus interest?