Mortgage protection

[jaycee401]

i took out mortgage protection in 2005. In 2006 I rented and still rent out the property. From 2008 I work part time and now believe this policy is not valid due to the hours I work. So for the past 3 yrs I have paid out nearly £20 a month for nothing, would I be able to get any monies back? thanks

[boxtops]

why do you think it's not valid? It depends on the type of policy it is - I have decreasing term assurance on mine, so as the mortgage goes down, so does the sum insured. That cover isn't dependent on how many hours I work. If you cancel the policy, what other cover will you have in case you can't pay the mortgage?

[Postdog]

or to give another view, are they even aware you are renting out. With any insurance policy failure to disclose info that could, in theory affect it, could invalidate it anyway. So you may have been paying for nothing anyway.

I personally think you have little chance of getting any money back, but it's worth checking the T&C's anyway.

[jaycee401]

Yes they know its rented out and I have protection on my residential mtg. this was for ASU, when i spoke to them they said as I now worked p/t this policy was void and to request monies back from when i first went p/t.

[factor-fiction]

So there's your answer isn't it?
I'm often amazed though at how little attention some people pay to what to what they are paying for.

[jaycee401]

I agree factor 30 I have been stupid :( she didnt say I would def get the money back but I could try to. Nice bonus for xmas if I do!