My house insurance is arranged through my mortgage provider and is paid each month as part of the mortgage repayment. I am paying well over the odds for the existing policy. I got a cheaper quote and I rang the mortgage provider to cancel the existing policy. I was told I needed to write in to cancel the existing policy.
I wrote in 21-12-08 by registered post to cancel the policy ( which is due for renewal on the 1-1-2009). I received a response dated 23-12-08 from the Building Society, which stated that "in order to cancel the policy through our scheme we will require an imdemnity letter noting the building society's interest on the headed notepaper of your new insurer".
My problem is that I got the cheaper quote on line and I may not be able to get this note from the new insurer prior to the 1st January 2009.
Is the bank in order to request this note on headed paper?
Why was I not advised of this when I rang the bank.
What are my options?
TJK