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Response to Indemnity Insurance?

from Lee (repossession@bigfoot.com)
Tony,

What happened next was that the lenders claimed that the benefit of having the insurance was that you got a mortgage you wouldn't otherwise have got. Whether you were mis-sold indemnity insurance is an open question though. Some lenders did not show customers the insurance documents prior to signing.

I'm told Union went bankrupt. At least one person who I think was connected with the company now helps repossessees deal with shortfall claims. He charges #600 and estimates that he can reduce most claims to about #2,000.

He claims he has a copy of virtually every indemnity insurance document lenders have used prior to 1993 or so and uses these to help people. I am unable to verify this claim.

How long your building society has to claim is a very vexed question. I have dumped everything I know about this in the Home Repossession Page.

My advice is to avoid applying for credit and to contact one of the solicitors mentioned in the "Paid Help" section in the Who Can Help? section if you need to.

(posted 9113 days ago)

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