Swift Indemnity Insurance

[Doc2527]

Hi Folks

Can anyone remember what the Insurance that Swift account holders had added to their loan covers?
Do we know if Swift have ever claimed on it, for any loss on their part? if so how can we find out?
Do Swift sign up to the Council of Mortgage Lenders code of conduct?

Regards
Doc

[andrew1]

Re: Swift Indemnity Insurance

Hi Folks

Can anyone remember what the Insurance that Swift account holders had added to their loan covers?
Do we know if Swift have ever claimed on it, for any loss on their part? if so how can we find out?
Do Swift sign up to the Council of Mortgage Lenders code of conduct?

Regards
Doc

The Insurance they add is for the Title Indemnity - it's an insurance they insist upon having to cover the unlikely event that they can't claim against the title of your property because it might have restrictions from some 1763 Church Parish restriction as it was built over a right of way to the graveyard and they need an undertakers permission from the 1800's to allow them to take it off you....that's more or less what White told me when I asked.

The interesting thing about that Insurance though is it is a Key Financial Indicator (or whatever they call it) which my Judge in the Multiple Agreement hearing stated should have been a separately itemised KFI and formed one of the individual categories of credit......which make up a Multiple Agreement - food for thought there for some although I'm not going there again.

I have no idea if they've ever claimed, they'd never tell you and the liklihood is about as likely as me hitting a jackpot in the National Lottery.

Last question - only for Swift 1st products I'd imagine although that might have changed since the FSA came on board instead of the OFT.

HTH?

A1