Hi Everyone,
Our Mortgage Payment Protection renewel from Abbey came through at the weekend and it is going up by £20 a month,(our mortgage is with Abbey) a) does anyone know if we can change providers to try and find a cheaper one, we are in our first year of an IVA, and b) any ideas of any decent companys we can try??
You need to check the terms of your mortgage with Abbey to see whether you are able to change providers for this insurance.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Glad you've been sorted out Andy - good to see your picture back!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks guys for your replies
Destiny Thanks thats a great help knowing someone else was with Abbey and have managed to change are you in an IVA as well?
Andy just done the Calculator on Johns's web site and it has come out £20 cheaper than what it now !! before the increase of £20 as well
Many thanks
Abi x
Hopefully this post will be of great interest to anyone who has any form of insurance through a bank/building society.
It is not uncommon to achieve the savings Abi has by shopping around for Mortgage protection and Buildings/contents insurance.
Everyone should realise that these institutions have been ripping off consumers for years with their hard sell tactics of overpriced insurance products.
Check your policies then tell all your friends !!!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I contacted the Financial Ombudsman recently and asked what proportion of casews of mis-sold PPI were attributed to Banks & Finance Companies selling single premium PPI and what to IFA's, as I was not aware of a single case attributed to IFA's.
They replied that they did not have exact figures for the past, but this situation could change next year. They went on to say "In the cases we see, for example, single-premium policies sold by a lender at the same time as the loan appear to present considerably more problems than monthly mortgage protection policies."
Choice1 wrote:
Hopefully this post will be of great interest to anyone who has any form of insurance through a bank/building society.
It is not uncommon to achieve the savings Abi has by shopping around for Mortgage protection and Buildings/contents insurance.
Everyone should realise that these institutions have been ripping off consumers for years with their hard sell tactics of overpriced insurance products.
Check your policies then tell all your friends !!!
I dont think for 1 minute it is all down to hard sell. Many companies rely on the apathy of the customer who just renews with the same company without even checking to see if they can get a better deal elsewhere.
There is plenty of money to be saved out there..if one can be bothered to get of ones backside and find the savings(not hard nowadays with all the comparison sites).
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
It's not always about saving money on the premium though.
Our contents insurance is not the cheapest, but we don't have an excess at all and we have claimed a few times over the years.
Car insurance also has all of £75 excess and none on windscreen and glass. It wasn't mega expensive, I could have got it slightly cheaper but not without risking having to pay a large excess.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It is horses for courses as they say - sometimes a cheaper premium does not give you the cover needed or carries a higher excess.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
