Bank forged signature

honeybuns

MammaZita wrote: »

The OP already had a policy in relation to the original mortgage on the site though, so unlikely forging the signature to gain a sale, as v likely they customers would have taken an identical policy out with the same institution- all that was required were the signatures?

Maybe there was an issue with approval for building costs (as in confirming the actual amount required) so original mortgage and hence life policy related to the site only.

Hard to know but sounds like a very stupid thing for the official to do.

MammaZita I just don't know now trying best to remember what went on a lot happened after we started to draw down the mortgage DH lost his job we were building at the time we had two small children...it was hard to know but the fact is it was done and now we just want it finished with and over and done with

Henry Ford III

honeybuns wrote: »

Mortgage protection policy - we thought we had a policy whereby in the event of one of our deaths the mortgage would have been cleared. What we actually have is upon death the original mortgage value will pay our regardless of how many years have passed - this is something else we didn't know we had!!!! All I can assume is that this guy was on a bonus for anything he sold and just wanted to make the sale

Fascinating case.

What you seem to have been given is a level term policy not a mortgage protection policy. LTA costs a bit more but provides better value. Check the proposal form copy you have to confirm.

How can you be 100% sure who exactly signed the proposal OP? Could it have been a well intentioned (but unwise) person elsewhere in the bank, or a solicitor, or someone in the insurer?

A few thoughts...

A false signature is forgery but I'm not certain that the policy would have been voidable. After all there was no non disclosure. The non written opinion of a manager is valueless in this respect.

Assuming for a second that the cover was valid is there any financial loss to you OP? I'd say not.

Was it one signature that was forged or both?

honeybuns

Henry Ford III wrote: »

Fascinating case.

What you seem to have been given is a level term policy not a mortgage protection policy. LTA costs a bit more but provides better value. Check the proposal form copy you have to confirm.

How can you be 100% sure who exactly signed the proposal OP? Could it have been a well intentioned (but unwise) person elsewhere in the bank, or a solicitor, or someone in the insurer?

A few thoughts...

A false signature is forgery but I'm not certain that the policy would have been voidable. After all there was no non disclosure. The non written opinion of a manager is valueless in this respect.

Assuming for a second that the cover was valid is there any financial loss to you OP? I'd say not.

Was it one signature that was forged or both?

The only thing we are sure of is the neither of us signed it but somehow there are 2 signatures. I am not a professional in signature analysis but looking at the copy of the declaration that we had to request the writing ie our address dates names signatures and signature of Financial advisor is all the same. I have not accused any individual I took at policy with our bank not with an employee.

both signatures are incorrect!!!

Our issue now is we did not consent to the policy nor did we consent to the funds to be deducted from our account. Plus in the event of a claim are we really covered!!! Its a scary thing to realise after years of assuming that you are covered for such eventualities that all of a sudden there is now a doubt.

Henry Ford III

honeybuns wrote: »

The only thing we are sure of is the neither of us signed it but somehow there are 2 signatures. I am not a professional in signature analysis but looking at the copy of the declaration that we had to request the writing ie our address dates names signatures and signature of Financial advisor is all the same. I have not accused any individual I took at policy with our bank not with an employee.

both signatures are incorrect!!!

Our issue now is we did not consent to the policy nor did we consent to the funds to be deducted from our account. Plus in the event of a claim are we really covered!!! Its a scary thing to realise after years of assuming that you are covered for such eventualities that all of a sudden there is now a doubt.

An ambiguous reply.

You firstly say you are not a handwriting expert and then repeat the allegation based on your admittedly non expert knowledge. You need to establish conclusively who forged your signatures before making accusations I'd suggest.

Both signatures forged - noted.

I think you'll find you did acknowledge that life assurance was a condition of the mortgage, and that the policy would have been assigned to the lender. You should also have been given a copy of the policy doc. You would also have consented for the collection of premiums as part of your mortgage payment. That's all standard stuff.

The crux of all this is the validity or otherwise of the policy. Assuming it's valid you're no worse off. Assuming however that the insurer would have voided it you'll be in a position to recover your total premiums, and essentially enjoyed 7 years without having to pay for the cover. The only way to establish this is to have the Insurer (not the Bank or Solicitor) confirm in writing how thaey would have proceeded had a death claim occured.

Where you've been fortunate is that in the 7 year period there's been no claim and no deterioration of health that would make fresh life assurance difficult/impossible to obtain.

Either way you aren't really in a bad place imho.

honeybuns

Henry Ford III wrote: »

An ambiguous reply.

You firstly say you are not a handwriting expert and then repeat the allegation based on your admittedly non expert knowledge. You need to establish conclusively who forged your signatures before making accusations I'd suggest.

Both signatures forged - noted.

I think you'll find you did acknowledge that life assurance was a condition of the mortgage, and that the policy would have been assigned to the lender. You should also have been given a copy of the policy doc. You would also have consented for the collection of premiums as part of your mortgage payment. That's all standard stuff.

The crux of all this is the validity or otherwise of the policy. Assuming it's valid you're no worse off. Assuming however that the insurer would have voided it you'll be in a position to recover your total premiums, and essentially enjoyed 7 years without having to pay for the cover. The only way to establish this is to have the Insurer (not the Bank or Solicitor) confirm in writing how thaey would have proceeded had a death claim occured.

Where you've been fortunate is that in the 7 year period there's been no claim and no deterioration of health that would make fresh life assurance difficult/impossible to obtain.

Either way you aren't really in a bad place imho.

yes the crux is the validity or otherwise of the policy. The Insurer is currently at the investigation stage. We are in limbo. They say verbally you should be ok with cover and there is no need to seek alternative cover but until their investigations are completed they will not put this in writing so do we seek alternative cover or do we wait. I think I need to seek alternative cover from another insurer but I need to keep this policy "live" until investigations are complete and report is issued.