Acenden charges

[cephlapod]

I am being lumbered with charges by Acenden because my oroperty is insured with NFU and not with their insurance company. I now have thousands of pounds of various charges due to this despite my actual monthly payments being up to date. They want my house to be insured for more although my current insurer says it is OK. I recive threats all the time. What can I do and where can I go for help?

[R0b]

Re: Acenden charges

Hello,

Acenden are your mortgage provider? Have you a copy of the contract, and does it say anything explicit about having insurance their their insurance company and not any other?

What is the total cost of the money they are asking for?

What exactly are these threats, telephone or by letter?

[Diana M]

Re: Acenden charges

I am being lumbered with charges by Acenden because my oroperty is insured with NFU and not with their insurance company. I now have thousands of pounds of various charges due to this despite my actual monthly payments being up to date. They want my house to be insured for more although my current insurer says it is OK. I recive threats all the time. What can I do and where can I go for help?

If you look at Acenden's own website you'll see that they admit to having a financial interest in the business which provides its borrowers with cover (Para 5) https://www.acenden.com/customer/my-...ings-insurance

They go on to say that in the event of dual cover (which is illegal anyway) they will refund 100% of the premium that's been charged to you in the last 12 months and 50% of the premium charged for a maximum of 3 previous years.

The small print also makes you aware that you may be able to get buildings insurance cover cheaper elsewhere. Fancy that

So you need to write and tell Acenden that you have your own cover and provide evidence of your NFU policy.

I don't know how long you've had the mortgage but I personally don't think refunding only 3 years' worth of double cover (and 2 of those at only 50%) goes far enough. I would demand a full refund and if they don't play ball make a formal complaint and whisk them off to the FOS.

It'll be a condition of your mortgage to have adequate buildings insurance cover (that's common sense) but I don't see how they can restrict you to buying their insurance when they stand to make a profit from it when you could get more competitive cover elsewhere. They obviously think that too or they wouldn't have posted your option to shop around on their website.

The NFU also provide 'niche' cover that other insurers don't (I have a thatched cottage insured with them for that very reason). If you're happy with the NFU then I see no reason for you to be bamboozled into taking out Acenden's product. And even if Acenden's premium were to be cheaper that's not the point unless it's like-for-like cover.

Di

[Kati]

Re: Acenden charges

:bump:ing for [MENTION=63949]cephlapod[/MENTION] xx

[Diana M]

Re: Acenden charges

:bump:ing for @cephlapod xx

You must be psychic

I received a PM from the OP at 11.30 am today and I have replied.

Di

[magstar71]

Re: Acenden charges

I am being lumbered with charges by Acenden because my oroperty is insured with NFU and not with their insurance company. I now have thousands of pounds of various charges due to this despite my actual monthly payments being up to date. They want my house to be insured for more although my current insurer says it is OK. I recive threats all the time. What can I do and where can I go for help?

Hi Cephlapod

i have exactly the same problem each year , I have a mortgage with Acenden and before the insurance is due I get numerous letters saying if my property is not insured ( which it is and I tell them I am waiting for the new cover details which is out of my hands ) they will put me on their expensive policy ) every year I email them saying it isinsured by my local council ( as its a leasehold ex council flat )

you MUST email the insurance team and email a copy of your insurance and tell them that you want the fees to be paid back.

The problem is you HAVE. To do this the minute you get their annual letter asking for insurance if they do not hear from you promptly they just add the payment on your account .

Funny that no other mortgage company I've heard of work like this!

make sure you call the and state that you have proven you are insured and that you want the money paid back, I had to do this once they are a nightmare company unfortunately ..