Comments on: The 14 Day Cooling Off Period http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm A UK Personal Finance Blog - The result of direct exposure to the fallout of the financial crisis. Wed, 10 Mar 2010 21:46:42 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Bennetts insurance rip off scam - Page 4 http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm/comment-page-1#comment-10828 Bennetts insurance rip off scam - Page 4 Tue, 24 Nov 2009 20:48:22 +0000 http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm#comment-10828 [...] [...] [...] [...]

]]> By: Tom http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm/comment-page-1#comment-5553 Tom Sat, 21 Mar 2009 16:59:08 +0000 http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm#comment-5553 Bennets! I also noticed today that Bennets bike insurance had taken an insurance payment from my bank account. I don't remember authorizing this transaction but I guess it was an opt out clause like Nicky's so a roll over of my previous policy with them. I'm feeling 30pounds+ 40% of the policy is better than the 180 pounds I've been debited- but is this fare play? I mean a company could charge a 90% 'handling fee' or anything it likes in this scenario essentially lame ducking the cooling off period. I've got 3 days left to do something and I'm now living in Indonesia which makes communication with the UK difficult. Any advice would be highly appreciated... Bennets!

I also noticed today that Bennets bike insurance had taken an insurance payment from my bank account. I don’t remember authorizing this transaction but I guess it was an opt out clause like Nicky’s so a roll over of my previous policy with them.

I’m feeling 30pounds+ 40% of the policy is better than the 180 pounds I’ve been debited- but is this fare play? I mean a company could charge a 90% ‘handling fee’ or anything it likes in this scenario essentially lame ducking the cooling off period.

I’ve got 3 days left to do something and I’m now living in Indonesia which makes communication with the UK difficult. Any advice would be highly appreciated…

]]> By: Nicky Sparks http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm/comment-page-1#comment-4538 Nicky Sparks Tue, 02 Dec 2008 13:54:33 +0000 http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm#comment-4538 M husband had motorbike insurance with a company called Bennetts. We did not receive a renewal letter from them when his insurance had expired. The first we heard of it was when the new certificate arrived in the post & they had automatically taken payment in full from our bank account, with the payment details that we paid with originally. When we tried to tell them we had no wish to take this insurance out, they told us it was in the small print that it was automatic renewal & that if we now cancelled we would have to pay a £30 cancellation fee as well as 40% of the policy so we should be better off keeping it. Are we covered by the 14 day cooling off period? M husband had motorbike insurance with a company called Bennetts. We did not receive a renewal letter from them when his insurance had expired. The first we heard of it was when the new certificate arrived in the post & they had automatically taken payment in full from our bank account, with the payment details that we paid with originally. When we tried to tell them we had no wish to take this insurance out, they told us it was in the small print that it was automatic renewal & that if we now cancelled we would have to pay a £30 cancellation fee as well as 40% of the policy so we should be better off keeping it. Are we covered by the 14 day cooling off period?

]]> By: UKMoneyPot http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm/comment-page-1#comment-3191 UKMoneyPot Tue, 01 Apr 2008 18:51:40 +0000 http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm#comment-3191 Why were Nationwide unable to confirm cancellation over the phone? Are they going to send it to you in writing? In order to be certain things are not going to proceed, you need to hear it from Nationwide. I would suggest trying to call them again, writing to them or even popping into a local branch and sitting down with someone there. Reservation fees are often not refundable so you need to keep onto them until they confirm your request Always make a note of who you speak to. Here's a thread from moneysavingexpert.com about a similar situation. The upshot of which is you need to get onto the lender. http://forums.moneysavingexpert.com/showthread.html?t=469234 Click the 'Contact' link in the top left of the page if you want to get in touch and discuss. Why were Nationwide unable to confirm cancellation over the phone? Are they going to send it to you in writing?

In order to be certain things are not going to proceed, you need to hear it from Nationwide.

I would suggest trying to call them again, writing to them or even popping into a local branch and sitting down with someone there.

Reservation fees are often not refundable so you need to keep onto them until they confirm your request

Always make a note of who you speak to.

Here’s a thread from moneysavingexpert.com about a similar situation. The upshot of which is you need to get onto the lender.

http://forums.moneysavingexpert.com/showthread.html?t=469234

Click the ‘Contact’ link in the top left of the page if you want to get in touch and discuss.

]]> By: Dawn Allen http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm/comment-page-1#comment-3189 Dawn Allen Mon, 31 Mar 2008 20:11:01 +0000 http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm#comment-3189 I have verbally agreed to commit to a remortgage deal with the Nationwide over the phone and verbally agreed to a reservation fee of £499 being taken from my bank account. Afterwards I realised the mortgage deal is inappropriate for my needs. I phoned the Nationwide today to cancel this arrangement, this canceelation as yet, has not been accepted. The reservation fee has not yet been taken from my bank account. Where do I stand in this matter please? I have verbally agreed to commit to a remortgage deal with the Nationwide over the phone and verbally agreed to a reservation fee of £499 being taken from my bank account. Afterwards I realised the mortgage deal is inappropriate for my needs. I phoned the Nationwide today to cancel this arrangement, this canceelation as yet, has not been accepted. The reservation fee has not yet been taken from my bank account.

Where do I stand in this matter please?

]]> By: Cooling Off Period Applies To Renewals / UK Personal finance blog and money information, tips and links / Money Watch http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm/comment-page-1#comment-185 Cooling Off Period Applies To Renewals / UK Personal finance blog and money information, tips and links / Money Watch Thu, 12 Apr 2007 22:41:38 +0000 http://www.ukmoneypot.co.uk/the-14-day-cooling-off-period.htm#comment-185 [...] A post at UKMoneyPot states that the 14 day cooling off period you receive when buying many types of financial product, such as loans, insurance and credit cards, also applies when your policies “auto-renew”. [...] [...] A post at UKMoneyPot states that the 14 day cooling off period you receive when buying many types of financial product, such as loans, insurance and credit cards, also applies when your policies “auto-renew”. [...]

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