Banks - doncha just love 'em?
Some years ago when we first bought our house we had an endowment mortgage, which supposedly would pay the balance of the mortgage when it matured. Ww all know what happened to that load of baloney, however, we moved the mortgage from the Midland Bank as was, to a repayment mortgage with a building society but kept the endowment policy going as a form of saving. That policy is due to pay out very shortly, the insurance company have written to us to tell us that the bank - now HSBC - have made their claim on the policy! They know full well that their claim ended when the mortgage was transferred many years ago, so I leave it to you to imagine what the tone of the 'phone conversation with HSBC was like! Of course they've made the normal waffling excuses - an oversight, a mistake, we're sorry, this shouldn't have happened etc. etc. The insurance company are going to forward the bank's claim letter and they are ensuring the cheque reaches us. Why is it when banks make mistakes they are always on their side? Not content with mis-selling endowment mortgages they also want to grab money they have no more entitlement to. So if any of you kept an endowment going like us, be warned, the greedy b******s will have it away if you're not careful.
Vanessa Smith ● 5002d4 Comments