14 Sep 2014 6:43 PM:
Hi
My husband and I bought in 2007, no Life Insurance included in mortgage about 2 years later the Bank added life insurance, we were not consulted, needless to say we contacted them but were told we had to have it, we were naive but at the time the cost was not too high, over the years it went up and up, until 2012 when it was abt 1000 euros, visits to the bank / emails ignored etc, so eventually I went to Maria's firm, having seen some of her other advice on the forum.
I had to provide all my mortgage documentation etc and once they had reviewed for a fee which was extremely fair they got the Bank to agree to remove completely the Life Insurance, we were more than adequately covered in the UK with Insurance so did not ever need this rip off... the Bank even had the cheek in the desparation to keep us paying to offer to reduce the fee for reduced life insurance, when in reality we never had any legal requirement to have it in the first place.
I realise this may noy help someone taking a mortgage now, but for those like us who bought several years ago when it was not normally compulsary to have Life Insurance, challenge them but do via a good solicitor if we had gone to Maria intially we could have saved a few thousand euros...
Thread:
spanish Mortgage Life Insurance Confusion Costs del Sol
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