Entitlement to multiple Mortgage Protection quotes /offers - Insurance Act / Laws etc

Denalihighway

Hi folks,

Sorry if the title is sh*te - I wasn't sure how to word it.

Basically I would love if someone could point me to a place in the Insurance Act / Consumer Code / legislation (whatever is most appropriate) that indicates in writing that a consumer is entitled to choose from multiple Mortgage Protection providers to receive quotes and / or a policy from.

Obviously I know this is the case, but I would just like to be able to quote it if possible.

I know in the past, many financial institutions used to railroad you into choosing their insurance provider - which the act sought to rectify based on the anti-competitive aspect of this etc.

Any help greatly appreciated.

Thanks

listermint

What problem are you trying to solve here OP ?

You can choose any you like now and also in the past. What's the specific issue ?

Denalihighway

listermint wrote: »

What problem are you trying to solve here OP ?

You can choose any you like now and also in the past. What's the specific issue ?

Hey thanks for the reply
I'm not trying to be awkward - but I can't (or at least I shouldn't!) discuss it in more detail on here I'm afraid.
I'd just love to be able quote the specific aspect of the act / legislation.
Cheers

Denalihighway

There's a section here in the Consumer Credit Act but it doesn't seem to refer to the choice aspect from the perspective of the borrower.

http://www.irishstatutebook.ie/eli/1995/act/24/section/126/enacted/en/html#sec126

Not my area of expertise...

Denalihighway

listermint wrote: »

What problem are you trying to solve here OP ?

You can choose any you like now and also in the past. What's the specific issue ?

Sent you a msg there

dublinstudent.

Are you saying someone is refusing to allow you to seek altenative quotes

KaneToad

dublinstudent. wrote: »

Are you saying someone is refusing to allow you to seek altenative quotes

Mortgage providers often 'strongly urge' you towards one of their insurance products. You are under no obligation to buy them.

GarIT

KaneToad wrote: »

Mortgage providers often 'strongly urge' you towards one of their insurance products. You are under no obligation to buy them.

You are with rebuilding Ireland I believe.

Denalihighway

dublinstudent. wrote: »

Are you saying someone is refusing to allow you to seek altenative quotes

Possibly, but I'll know soon.

With a regular bank I know I would be able to go with whomever I choose.
But its not a regular bank.

KaneToad

GarIT wrote: »

You are with rebuilding Ireland I believe.

http://rebuildingirelandhomeloan.ie/faq/

You're right.

coylemj

So it looks like the OP is signing up for a scheme where their mortgage protection cover is mandatory....

The Local Authority MPI scheme is a group scheme. It is obligatory for all borrowers who meet the eligibility criteria to join the scheme.

http://rebuildingirelandhomeloan.ie/faq/

Vetch

Denalihighway wrote: »

There's a section here in the Consumer Credit Act but it doesn't seem to refer to the choice aspect from the perspective of the borrower.

http://www.irishstatutebook.ie/eli/1995/act/24/section/126/enacted/en/html#sec126

Not my area of expertise...

The following section of the Act prohibits linking of services but mentions 'land'. Not sure if it's relevant or if the particular scheme falls within the scope of the Act but maybe someone else can say -
http://www.irishstatutebook.ie/eli/1995/act/24/section/127/enacted/en/html

Denalihighway

Vetch wrote: »

The following section of the Act prohibits linking of services but mentions 'land'. Not sure if it's relevant or if the particular scheme falls within the scope of the Act but maybe someone else can say -
http://www.irishstatutebook.ie/eli/1995/act/24/section/127/enacted/en/html

Thanks