When an elderly woman found her building insurance premiums too steep to pay,Halifax simply reopened her former mortgage accountHow much should the buildings insurance be on a £250000 terrace house in Redcar, north-east England? It probably wouldn’t be difficult to find quotes for less than £200. Yet what the son of the elderly woman living alone in the house found after going through her papers following her death in 2010 brings shame on one of our biggest financial institutions, and Halifax.
Mrs Laurie (I’ve changed her name) had always been good with managing her money. She dutifully paid the domestic insurance premium demanded by Halifax every year,even though it kept going up. But when it hit £450 she could no longer afford to pay it.
Continue reading...
Source: theguardian.com