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  • FIRST POST
    • Alan Cross
    • By Alan Cross 14th Sep 17, 2:41 PM
    • 1,122Posts
    • 1,115Thanks
    Alan Cross
    PPI misselling on... mortgages..?
    • #1
    • 14th Sep 17, 2:41 PM
    PPI misselling on... mortgages..? 14th Sep 17 at 2:41 PM
    In the 25-odd years before 2016 we had a series of re-mortgages, going from lender to lender (four or five, if I remember correctly).

    I do not recall it being mentioned at any time that any form of insurance against payment default was being included in any of the deals.

    I have kept all the paperwork and a cursory look through the original 'offer documents' reveals precisely nothing.

    I had always assumed that PPI was something not associated with mortgages but rather with credit cards and standard bank loans.

    Forgive the naivety... but is it possible that PPI was involved and that we might have a claim?

    If so, what is the standard 'first move'?
Page 1
    • dunstonh
    • By dunstonh 14th Sep 17, 2:49 PM
    • 89,502 Posts
    • 54,962 Thanks
    dunstonh
    • #2
    • 14th Sep 17, 2:49 PM
    • #2
    • 14th Sep 17, 2:49 PM
    I had always assumed that PPI was something not associated with mortgages but rather with credit cards and standard bank loans.
    MPPI does exist. However, it suffers fewer issues and you see most MPPI complaints fail. MPPI is also retailed today as it covers a genuine need. Most MPPi was monthly premium standalone cover. That is how PPI should be set up. So, it doesnt have a structural problem that loan PPI has (single premium with added interest).

    Most mortgages are put in place via advisers/brokers. So, most MPPI is sold via advised distribution by qualified and regulated individuals. Whereas loan and credit card PPI is sold by unregulated and unqualified individuals. So, the failure rate on MPPI is far lower.


    Forgive the naivety... but is it possible that PPI was involved and that we might have a claim?
    Yes it is possible. However, statistically unlikely. Did you pay a separate direct debit for MPPI?
    If yes, you had it. If no, then you probably didnt.
    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.
    • Alan Cross
    • By Alan Cross 14th Sep 17, 3:00 PM
    • 1,122 Posts
    • 1,115 Thanks
    Alan Cross
    • #3
    • 14th Sep 17, 3:00 PM
    • #3
    • 14th Sep 17, 3:00 PM
    No, no separate payments were ever made.

    At least this clears things up as the thought had been nagging at the back of my mind for some time.

    Much obliged.
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