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07 Aug 2012 01:20 by orient Star rating. 1 posts Send private message

Hi there, my name is Roger.

In 2006 I purchased a property, and requested a mortgage protection policy to a) cover both myself and my partner against death, b) to cover both of us in case of permenant sickness, disability, and unemployment.  At the time we had absolutely no knowledge of spanish, and therefore relied on the bank´s integrity. 

In 2008 because of the world financial crash, our monies were insufficient to be able to pay the full mortgage repayments.  We wrote to the bank to inform them of such.  Which, without going into the complete saga, the bank ¨purchased¨the property back in 2009.

On numerous occasions we asked for the mortgage protection policy documents, but were informed that we could not have them.  A few days ago, I again attempted to get a copy of this policy, and was issued with a general one, but not a copy of the originally signed one.

I visited the new bank manager, who informed me that as far as she was aware, the mortgage protection was part of the debt to the bank and was included in the signings.

Is this correct, as we feel that this should not have been the situation.  Also that according to the bank manager, we should not have signed the proerty back to the bank with the mortgage protection policy in place.  Also that the interpreter at that time should have warned us, and told us not to sign.

This was our dream home where we wished to spend the rest of our lives in.  We feel that with the information only now coming to light, that we have been miss sold a policy because it is not what we orginally asked for, and at no time did we receive any documents in english.

I am asking for your help as to what would be the best course to take, or if there is anyone who could help us legally.

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07 Aug 2012 07:19 by theequaliser Star rating in Spain. 26 posts Send private message

theequaliser´s avatar

Hello Roger

All this sounds rather vague.

You requested the ASU policy yourself, so you clearly knew what one was and that you had one. So the obvious question is ‘’when you got into financial difficulties and could not pay the mortgage, why did you not claim of the ASU policy’’ which I assume you took out for exactly this situation occurring?

Until you clarify this I doubt anyone can advise you. The rest of your post at this stage does not make much sense until the above is explained.

Common sense is not so common.

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