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(5 Posts)
Babyramone Tue 07-Aug-07 12:29:10

Bit of an odd one this but does anyone know if a bank (mortgage lender)and assurence co i.e Standard life can cash in your policy early to pay of your mortgage arrears without your knowledge or at least agreement?
This has happened to my mum (has early dementia)and according to her and her partner who lives with her have no idea how this happened.
It's her house and policy.

LIZS Tue 07-Aug-07 12:30:30

Don't think so but will ask dh .

Babyramone Tue 07-Aug-07 12:34:08


LIZS Tue 07-Aug-07 21:29:52

dh can't be sure as it is a long time(10 years or so) since he last worked in Mortgages. However he thinks that if the policy was assigned to the lender, especially if the premiums were not being paid on it and there were mortgage arrears, it could just theoretically be possible for them to have cashed it in. You 'd need to read the Terms and Conditions very carefully. Normally he would have expected that they would have been notified but having got behind perhaps not. hth

Babyramone Sat 11-Aug-07 11:21:55

My mum and her partner have no idea whats going on. My mum still thinks she has endownment and we're not sure what Partner thinks as he doesn't commincate with my sister or me.
My sister and him have joint POA for looking after my mums finances and I think he was a bit peeved thay he didn't get sole.
My mum has a form of dementia and tbh he's not proving too bright himself.
My sister is hoping to speak to lender and see what's happened.
Basically she has it seems having cashed in early there will be nothing to pay of mortgage when term ends.

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