GE Money - Home Finance...A couple of Questions

[mattyb13]

Right, hopefully I have posted this in the right place.

 

All the figures are rough but are quite close. I do have the excact figures just not to hand.

 

We took a secured loan/second mortgage with these people back in July06. The loan was for £27k. Our circumstances changed in June 07 and we sold our house and paid off the loan. The settlement figure we were given was £35.5k.

 

We were paying around £300 per month of the loan. The settlement was broken down approx. £27k loan, £7420 Insurance, £1600 redemption fee. We were refunded 50% of the insurance a couple of weeks after we settled the account. We did not make a claim for it this is what they told us we would get back.

 

What I want to know is can we claim for the rest of the insurance as we never used it, we payed the loan for 10 months and the policy was for 10 years, we never used 10% of the insurance let alone 50%.

 

Also can we reclaim the redemption fee or any part of it.

 

Thanks in advance for any help.

 

Matt.

[steven4064]

Hi Matt

 

You should certainly try and recalim the insurance you haven't used. I don't think you can reclaim the redemption fee. Sorry