Julie,(posted 7463 days ago)I'm afraid I have never heard of anyone having successfully counterclaimed mis-selling or mis-representation of a MIG. Although we all know how they were mis-sold/mis-represented. I personally don't think the statement on your offer of advance would help your case much, as it doesn't mention whether only the borrower OR the lender is covered , I think you would need more specific evidence. Don't forget too that you only have 6 years to counterclaim from, I believe, the date of purchase of the policy. If the 6 years are up then the MIG counterclaim would be struck off any defence. Take a look at the article "Mortgage Indemnity Guarantees" on the 'Repossession' page, & also my earlier postings on MIGS. I would also refer you to "Mortgage Indemnity Guarantee Borrower Has No Rights Under Policy. Bradford & Bingley BS v Manchanda Court of Appeal 16.10.97". Sorry not good news - who said the law in this country was fair ??
Mark.