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Kensington Mortage and Lenders premium.


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We are with Kensington Mortgage and never had any probs with them until last year when they demanded we prove that the house was insured. This demand was complied with. This year we heard nothing from them until today when we received a statement and I found they had been taking £18.82 extra per month and as separate transaction since Sept. I called them up and they said it was a lenders premium as we had not showed out insurance cert as requested. (we never received this).

 

I asked what was in our terms and conditions etc and the girl said there would be nothing written into the terms and conditions in regards to this... my questions are: Do they have the right to take this money ( lenders premium) without our prior consent from our bank account? And what can be done about it?

 

My knowledge is ltd but I don't think they can take this payment if its not written into the agreement that we signed and since they have not sent an amended agreement in terms of a lenders premium they would be in breach of contract i.e. the original terms and conditions. Which I have requested they send to me.

 

Look forward to hearing your replies.

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Do you still have the insurance paperwork? Kensington amongst others will insure the house with their own insurance company if you don't provide cover. If you still have your paperwork from the company you used to insure your property, Kensington should return the payments to the account. Have you had a n increase in the interest rate lately? I hear the wotsits are increasing the interset rates again.

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Do you still have the insurance paperwork? Kensington amongst others will insure the house with their own insurance company if you don't provide cover. If you still have your paperwork from the company you used to insure your property, Kensington should return the payments to the account. Have you had a n increase in the interest rate lately? I hear the wotsits are increasing the interset rates again.

 

The house is insured and there was no documents as we are still with the same company - they offered us a good deal again this year so we stayed with them. What I was asking is this does Kensington have the legal right to impose a lenders premium on your account and take the money out of your bank account without prior consent?

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