CAB Senior Adviser Has Achieved Her Aim. Precedent Set in Court for Mis-sold Life Insurance on Mortgages

Eight years earlier (2014) I managed to recoup what I considered to be mis-sold life insurance policies associated with mortgages. The clients had been told that a life insurance policy was a requirement for the bank providing a mortgage loan. I knew that the banks when providing a mortgage could only insist that a buildings insurance had to be taken out. This insurance could be contracted with any entity and not only from banks who provided the mortgage.

The monies were recouped for eight clients from a particular bank and without the need to take the matter up in court. I negotiated and mediated with the banks legal representatives. This was not an easy task and I had to use all my knowledge and expertise to reach a solution. The banks did not return monies to independent clients who attempted to make a claim as there was a process to be carried out. For banks it is always a numbers game, out of 20 claims probably only 5 would instruct a professional and possibly win. Those without legal representation were refused so the bank would save on 15 claims out of 20.

I was not successful with other banks as they refused and obviously waited for a legal process through the courts. I am not a lawyer so could not embark on this route. In 2014 I contacted a large law firm who were surprised at my achievement and documents I had prepared for the claim still would not take on these claims, stating that a precedent had not been set in the courts to justify a judgment in a subsequent cases.

In around 2020, I approached a lawyer with expertise in bank products. He listened, looked at my cases and decided he would take on clients who has been coerced into taking out the life insurance policy in the conditions described above. This lawyer went onto win cases outside of the court. When a bank refused, he took the matter to court and only today has been notified that he has won the case against the bank in question.

This lawyer is one of the lawyers listed with the Lawyer Smart Card Ltd.

Lawyer Smart Card Website

If you are in this position, you would benefit from owning the Lawyer Smart Card for this and any other legal matters where you will need a lawyer with expertise in their field of practice. Many in Spain tend to use a general lawyer for all cases, this is not wise as each lawyer works with certain civil or criminal laws.

With permission from the Lawyer Smart Card client, I add this screenshot posted on the CAB group today.

Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.