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When we received SARN response we noted a reference made to MIG insurer. We queried this and just had the solicitors explanation that this was insurance policy taken out for the benefit of the lender for which we paid a premium and they are pursuing us for the shortfall on behalf of lender who are in turn acting on right of subrogation on behalf of insurer. This was all news to us as we never paid a premium for a policy, never signed anything in relation to it and in fact on copy of the original mortgage offer the area beside MIG policy premium is blank. We have tried to get a copy of mortgage deed and have been told they dont have it.

Our view is that we were never sold a policy so therefore we cannot be a party to this and lender has no rights to chase us. Any transaction that took place between lender and insurer is a matter between themselves and their problem to resolve. At the very least it is a classic case of 'mis-selling'. At the other end of the scale could it be we have been pursued under false pretences and the monies (albeit small amounts) we paid to debt collectors/solicitors over a few years were extracted from us fraudulently - could we have a potential claim against them.

Are we on the right track here or are we missing something?

(We are also still going through the laborious task of extracting info from them regarding the sale as we believe the property was undersold)

Any views on this would be most welcome


-- alyson (faydupp@hotmail.com), January 21, 2002

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