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Dual Buildings and Contents Insurance - Northern Rock


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Hi, Can anyone please advise?

 

We managed to end up with 2 sets of buildings and contents insurance as we didnt realise Northern Rock had included this in our mortgage. To cut a long story short both NR and Zurich have agreed to refund 50% each.

 

We have just got a letter from NR stating that they have now refunded their part and paid it back into our mortgage. Are they allowed to do this? Surely they should have sent us a cheque? Can we request that they send us the money instead?

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Usually when you get a refund for a policy, it will be paid back the same way it was paid to the insurer. I.e if you paid in full on a card it would go back on to the same card, if you pay monthly then it will go back into the account you paid the instalments from.

 

From what you've said, it would appear that you pay for your home insurance from Northern Rock as part of your mortgage payment each month, so for them to credit it back to your mortgage doesn't sound unreasonable to me.

 

I would assume that the Zurich one will be refunded back to whichever method you used to pay them so you should get at least one lump sum payment back.

 

 

Hope this helps

 

 

D.A

If you find the advice I give is useful, then please feel free to click the scales :)

 

"It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt" :)

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