Lloyds Mortgage PPI

Michael90 · 31 July 2015 at 3:47PM

**Please accept my sincere apologies if I posting this message in the wrong forum (newbie)**

Please can I have some help/recommendations on the following?:
In FEB 1994 I took out a mortgage with Lloyd’s Bank (the underwriter was Blackhorse) and the term was for 12 years (FEB 2006). I moved in DEC 2000 and still kept my mortgage with Lloyds Bank but the underwriter was now Cheltenham & Glouster, in 2001 I paid off the mortgage following redundancy payment from my employer.
I have found a PPI policy for the Blackhorse mortgage (I assume I paid PPI on this from FEB 1994-DEC 2000) but cannot find my Cheltenham and Glouster mortgage PPI policy.
I do recall in 1994 that I was told I needed to take out the PPI policy in order for the mortgage to be accepted but I didn’t need the insurance as I worked for ‘Lloyds of London’ and would have been covered if I couldn’t work due to illness ect.
My questions are:
1) Do I write to Lloyds Back directly as they provided the mortgage regarding the PPI or do I write to the underwriters Blackhorse and possibly Cheltenham and Glouster regarding the PPI?
2) As this is relatively old now am I still able to make a claim for misold PPI?

Thank you for reading and thank you for any help you may be able to provide.
Kindest Regards

dunstonh · 31 July 2015 at 4:54PM

I have found a PPI policy for the Blackhorse mortgage (I assume I paid PPI on this from FEB 1994-DEC 2000) but cannot find my Cheltenham and Glouster mortgage PPI policy.

Is it PPI or a different insurance?
I ask as Lloyds never retailed an MPPI/ASU under the Black Horse brand. They did retail life and pensions business under Black Horse Life though.

I do recall in 1994 that I was told I needed to take out the PPI policy in order for the mortgage to be accepted but I didn’t need the insurance as I worked for ‘Lloyds of London’ and would have been covered if I couldn’t work due to illness ect.

In the mid 90s, Lloyds had a number of deals that used to require a cross sale purchase of insurance to get the deal. That pricing method was allowed as long as the insurance was suitable.

The FOS have been rejecting complaints where people have had 12 months sick pay when it comes to MPPI. So, its not a strong reason with Mortgage insurances (it is with short term unsecured debt). Plus, you were made redundant. So, clearly the job came with risks.

1) Do I write to Lloyds Back directly as they provided the mortgage regarding the PPI or do I write to the underwriters Blackhorse and possibly Cheltenham and Glouster regarding the PPI?

Underwriters of what? Lloyds branches never retailed mortgages under the Black Horse brand. The only insurances sold under Black Horse were life assurance, critical illness cover, PHI and pensions (Black Horse Life). MPPI was sold under Lloyds Bank Insurance Services Ltd and Cardiff Pinnacle was the underwriter.

The Black Horse brand was available for lending via 3rd parties, such as mortgage brokers and Black Horse Estate Agents (although Lloyds never had liability for them).

2) As this is relatively old now am I still able to make a claim for misold PPI?

You are entitled to complain about whatever you like. You dont have a particularly strong complaint reason. However, its Lloyds and you never know with them.

Michael90 · 31 July 2015 at 5:09PM

Thank you for your reply, I am writing this on behalf of an elderly relative.

The mortage taken out in 1994 was with Blackhorse, going through all the paperwork I asumed it was through Lloyds but this is oviously not the case after reading the above.

With regards to the redundancy my Grandmother worked for Lloyds of London for 44 years and was offered Voluntary redundancy following the well documented asbestos pandemic which more or less wiped out a large part of Lloyds of London, within my Grandmothers employment contacts it does advise that full salary will be paid following illness along with a long list of other reasons.

dunstonh · 31 July 2015 at 5:23PM

Maybe one of the other older advisers/brokers on the board can recall but if was Black Horse rather than Lloyds Bank then it was probably a mortgage broker or through a Black Horse estate agent. I think Bradford and Bingley ended up with Black Horse estate agents in the end but 1994 pre-dates any mortgage and general insurance regulation for brokers/agents.

Lloyds bank only had liability for sales made via the Lloyds bank branches. Not agents or brokers.

Or it could be that it was Lloyds Bank and its just her calling it Black Horse (a lot in the city used to refer to Lloyds as Black Horse to avoid mixing up with Lloyds or London). So, could just be a terminology thing.

Does she know who the insurer was? As I mentioned, Lloyds bank used Pinnacle (as it was then). It would have been a standalone monthly direct debit and not built into the mortgage.

Lloyds Mortgage PPI

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