Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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A word of warning!
a few weeks ago, i got my halifax insurance renewl in (the 1st year ive been a homeowner)
It was a ridiculous price to what i could find online (£278 for contents alone, which i now have better cover for £94.
After i cancelled the halifax renewel i was wondering how much my monthly payment to the halifax would go down by. Didnt bother finding out, just thought id wait and see.
Got my 1st year mortgage statment intoday, and it said future payments are still the exact same amount. After reading through it all, i noticed that the £299 insurances from last year had been added to the mortgage amount, this means ill now have to pay 2.8x this roughly over the next 30 years!!!
SO basically for a years contents insurance, ill be paying £837 over the next 30 years!!
WANKERS!!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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None of that makes sense to me? 
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jaffa
Member
Registered: 27th Mar 00
Location: Stoke-on-Trent
User status: Offline
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So what does your original paper work say. thought you had to ask for it to be included in the mortage. When I moved to Britannia I paid mortgage, house and redundancy insurance in one payment but the insurance wasn;t added to the mortgage
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jaffa
Member
Registered: 27th Mar 00
Location: Stoke-on-Trent
User status: Offline
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http://www.consumeractiongroup.co.uk/forum/welcome-consumer-forums/27437-halifax-insurance.html
same problem here. not a member but maybe worth registering to find 'post 2'?
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
User status: Offline
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Edit: I see what's happened now. The original cost of year 1's B&C was built into the mortgage. I guess you had your survey fee in there aswell?
[Edited on 13-08-2009 by VegasPhil]
Corsa 2.0 16v Vegas - Sold
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Oh right, no you dont have to take it with them at all 
How can they add it to the policy if you cancel? Surely it would be illegal for them to have a clause saying you have to take it? 
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J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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quote:
Originally posted by Colin
None of that makes sense to me?
He's paid for a years home and contents insurance over a 30 year period.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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So overpay 299 off the mortgage and you'll be square.
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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is it that simple then ian? Never really thought of that.
By the way, i wasn't forced to take it, it just seemed nice and easy at the time.
The survey and life insurance was paid for seperate so haven't got that on there. The 499 product fee was tho. So i might over pay that as well.
At no point was i ever told it would be going on the mortgage tho.
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BigSte
Member
Registered: 27th Aug 02
Location: Sheffield
User status: Offline
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yes but if you weren't told it was going on the mortgage didn't you find it weird when you never actually paid it 
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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i assumed it was being taken out at same time as mortgage. they said it would be paid with your motgage, so i just assumend it was part of the £ i was paying them
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Well it doesn't matter how you total up the mortgage amount, you're paying interest on the amount you borrow.
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