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  • FIRST POST
    savcab
    ppi payment care abbey national mis sold
    • #1
    • 14th Jun 11, 9:54 PM
    ppi payment care abbey national mis sold 14th Jun 11 at 9:54 PM
    hi can someone advise on the following.

    we took out a mortgage in feb 2003 and ended a 5 year capped rate in august 2007 which we had to pay an early redemption fee. we took abbeys house insurance and payment care out at the time as we were "advised" they would be beneficial by the abbey representative. We also had a term assurance and critical illness policy which ran with scottish widows for that term.

    Now i was self employed at the time and employed as a company director of a limited company from 2005 through the end of the term and still am today.

    What im really asking is do i have a case for being miss sold as i dont believe we could have claimed on the policy. all the above were joint policies.ive checked the advice on here and have filled in the questionaire and am just seeking some reassurance.

    Please help.

    Thanks in advance
Page 1
  • savcab
    • #2
    • 15th Jun 11, 8:44 PM
    • #2
    • 15th Jun 11, 8:44 PM
    Anybody any advise?
  • savcab
    • #3
    • 17th Jun 11, 9:53 PM
    • #3
    • 17th Jun 11, 9:53 PM
    Am i best to email Abbey first or go down the postal route? Also would it be better to ask for the SAr thing as i dont have a copy of the original agreement to double check the empolyment status at the time.

    thanks
  • leezoeharley
    • #4
    • 17th Jun 11, 9:56 PM
    • #4
    • 17th Jun 11, 9:56 PM
    I have recently had a claim upheld for an Abbey Paymentcare policy that we took out in 2001, I called them and logged my complaint over the phone and was paid all the premiums and 8% interest back in less than 2 weeks.

    The complaints number is 0845 600 6014 (option 2, 4 then 2 which takes you through directly to the PPI team)

    Hope that helps.
  • savcab
    • #5
    • 2nd Jul 11, 9:27 AM
    • #5
    • 2nd Jul 11, 9:27 AM
    Just had letter from santander offering to settle claim £1200.. All payments plus 8% interest. Interest is nearly half the original payments cost.Only phoned just over a week ago. Well chuffed with that. Didn't expect as much back either. Thanks to this site as I wouldn't have bothered claiming. Wife has the money spent though already.LOL
    • amersall
    • By amersall 3rd Jul 11, 12:19 PM
    • 16,331 Posts
    • 18,290 Thanks
    amersall
    • #6
    • 3rd Jul 11, 12:19 PM
    • #6
    • 3rd Jul 11, 12:19 PM
    Well done

    • amersall
    • By amersall 3rd Jul 11, 12:20 PM
    • 16,331 Posts
    • 18,290 Thanks
    amersall
    • #7
    • 3rd Jul 11, 12:20 PM
    • #7
    • 3rd Jul 11, 12:20 PM
    I have recently had a claim upheld for an Abbey Paymentcare policy that we took out in 2001, I called them and logged my complaint over the phone and was paid all the premiums and 8% interest back in less than 2 weeks.

    The complaints number is 0845 600 6014 (option 2, 4 then 2 which takes you through directly to the PPI team)

    Hope that helps.
    Originally posted by leezoeharley
    Well done to you too

  • brown84
    • #8
    • 27th Mar 12, 10:22 PM
    • #8
    • 27th Mar 12, 10:22 PM
    Hi all,
    I took out a paymentcare policy in 2004 after the abbey representative worked his scare tactics ... "you're first time buyers, if you lose your jobs, this policy will cover your mortgage payments ... if you don't take it, it's a big risk... etc!" ...

    We had the Payment care policy for 2 years and I'm now wondering if we have a claim. Only problem is, I have none of the original policy details or bank statements to back up my claim! can anyone tell me how I go about claiming this back? Do I need to get the paperwork from abbey (santander) first? I have my mortgage number but nothing for the policy ... can they trace the policy from my mortgage number!?

    Any help or advice would be a big help thanks!
    • dunstonh
    • By dunstonh 27th Mar 12, 10:54 PM
    • 82,251 Posts
    • 47,355 Thanks
    dunstonh
    • #9
    • 27th Mar 12, 10:54 PM
    • #9
    • 27th Mar 12, 10:54 PM
    I took out a paymentcare policy in 2004 after the abbey representative worked his scare tactics ... "you're first time buyers, if you lose your jobs, this policy will cover your mortgage payments ... if you don't take it, it's a big risk... etc!" ...
    Excellent. That verifies the Abbey rep was doing their job correctly. They have a requirement to make you aware of the risks and you have verified they have done that.

    We had the Payment care policy for 2 years and I'm now wondering if we have a claim.
    You havent given any indication of a reason for complaint. Plus, Abbey set their plans up correctly as monthly premium. So, no issues there either.

    can anyone tell me how I go about claiming this back?
    Can you tell us why you think this was mis-sold?

    can they trace the policy from my mortgage number!?
    Possibly not as MPPI is normally a standalone product. One of the reasons why MPPI has a much lower complaint rate.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • magpiecottage
    • By magpiecottage 28th Mar 12, 2:19 PM
    • 8,859 Posts
    • 5,357 Thanks
    magpiecottage
    [QUOTE=brown84;52084591]Hi all,
    I took out a paymentcare policy in 2004 after the abbey representative worked his scare tactics ... "you're first time buyers, if you lose your jobs, this policy will cover your mortgage payments ... if you don't take it, it's a big risk... etc!" ...

    The (voluntary) regulator for mortgages at the time, The Mortgage Code Compliance Board advocated doing just that on page 14 of its Good Practice Notes.

    Doing what your regulator tells you to do is not a breach of its rules!
    It is a statement of fact, not an advertisement, that I investigate complaints against small firms of financial advisers for a living.

    That is why I know my way around both the FCA Handbook (for financial businesses) and the Conduct of Authorised Persons Rules (for CMCs).
  • herescuckoo
    I have recently had a claim upheld for an Abbey Paymentcare policy that we took out in 2001, I called them and logged my complaint over the phone and was paid all the premiums and 8% interest back in less than 2 weeks.

    The complaints number is 0845 600 6014 (option 2, 4 then 2 which takes you through directly to the PPI team)

    Hope that helps.
    Originally posted by leezoeharley
    Looked on this thread and thought I would give the number a ring to see where I stand

    Basically had MPPI on our mortgage from March 2003 to August 2010 - at approx £38 per month.

    The guy was really helpful and filed a claim there and then over the phone asking reason why I fest policy was mis-sold.

    My view was that both my wife and I were employed by the NHS, Would get full sickpay , redundancy death in service through work.

    Also stated that when taking the mortgage we were"pressured" into buying the policy and the inference was no ppi no mortgage.

    Wondered how likely it is for the claim to be upheld?
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