Nationwide insurance - is it PPI?

JohnnyJet · 26 February 2017 at 4:59PM

I have just dug out a 15 year old mortgage statement and it says I paid Propery insurance, I'm not sure they told me I had a choice whether I went with them or not. Can I make a claim?

societys_child · 26 February 2017 at 5:08PM

JohnnyJet wrote: »

I have just dug out a 15 year old mortgage statement and it says I paid Propery insurance, I'm not sure they told me I had a choice whether I went with them or not. Can I make a claim?

It's normal for the lender to insist the property is (propery) insured, it's their money at risk.
It's not ppi, who arranged the mortgage?

JohnnyJet · 26 February 2017 at 5:12PM

I know I had to have insurance as part of the requirements but I think they told me that I had to insure with them. It was Nationwide.

dunstonh · 26 February 2017 at 5:17PM

JohnnyJet wrote: »

I know I had to have insurance as part of the requirements but I think they told me that I had to insure with them. It was Nationwide.

Lenders are allowed to insist on insurance as part of a condition of borrowing. Nothing wrong with that. They still do it today. And quite logically too.

There was a rule change in the late 90s that said they could no longer insist on it being with them but that only affected sales after that date.

Property insurance is buildings insurance. PPI is payment protection insurance. Two very very different types of policy.

JohnnyJet · 26 February 2017 at 5:29PM

I have no problem with them insisting that I take out insurance, it's whether they forced me to insure with them thus denying me a potentially better deal somewhere else. It was the late 90's I had this insurance.

Been clearing out my old paperwork and before I throw it away I was just checking.

Nationwide insurance - is it PPI?

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