Mortgage Protection Decision Reference 2019-0264

Case OutcomeRejected
Reference2019-0264
Date13 August 2019
Year2019
Subject MatterMortgage Protection
Conducts Complained OfMis-selling (insurance),
Finantial SectorInsurance
Decision Ref:
2019-0264
Sector:
Insurance
Product / Service:
Mortgage Protection
Conduct(s) complained of:
Mis-selling (insurance)
Outcome:
Rejected
LEGALLY BINDING DECISION
OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN
Background
The complaint relates to the Complainants’ mortgage protection assurance policy in
connection with a mortgage loan taken out with the Provider in 2008.
The Complainants’ Case
The first Complainant submits that, in December 2007, when he was aged 65, the Provider
insisted that he take out a life assurance policy as part of a loan taken out by his son, the
second Complainant. (The first Complainant maintains that his understanding was that he
was a guarantor of the loan rather than a co-borrower.) The first Complainant states that
I was most reluctant to agree to this but was left with no option as [the Provider]
refused to release the mortgage money unless I did… In order to assist my son I had
no option but to take out the life assurance at a monthly premium of €311.75”.
The first Complainant submits that he was unaware at the time that the Provider had no
right to force him to take out the life assurance policy “under the regulations” as he was
over 50 years of age. The first Complainant states that the Provider has “steadfastly
refused to address the central issue of their regulations breach, preferring instead to trot
out the fact that the issue was agreed by solicitors at the time”.

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