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    • Stephen Hartley
    • By Stephen Hartley 6th Oct 17, 7:15 PM
    • 2Posts
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    Stephen Hartley
    PPI mortgage query
    • #1
    • 6th Oct 17, 7:15 PM
    PPI mortgage query 6th Oct 17 at 7:15 PM
    I had a mortgage with the Woowich BS from 1991 until 2003, and their statements indicate that as well as mortgage repayments, a separate monthly 'Direct Debit' in respect 'Woolwich Life Assurance' was paid.
    a) Is 'Woolwich Life Assurance' classed as PPI?
    b) If so, the Woolwich BS were subsequently taken over(or merged) by Barclays - should a claim be sent to Barclays?
Page 1
    • zx81
    • By zx81 6th Oct 17, 7:22 PM
    • 13,618 Posts
    • 14,073 Thanks
    zx81
    • #2
    • 6th Oct 17, 7:22 PM
    • #2
    • 6th Oct 17, 7:22 PM
    Life Assurance isn't PPI. It's Life Assurance.
    • Moneyineptitude
    • By Moneyineptitude 6th Oct 17, 11:25 PM
    • 19,506 Posts
    • 9,602 Thanks
    Moneyineptitude
    • #3
    • 6th Oct 17, 11:25 PM
    • #3
    • 6th Oct 17, 11:25 PM
    'Woolwich Life Assurance' classed as PPI?
    Originally posted by Stephen Hartley
    Understand that PPI is a short term insurance covering you in the event of unemployment and/or sickness.

    Life assurance covers your dependants in the event of your death.


    They are both very different financial products and only PPI has suffered from a widespread mis-selling scandal.

    Sorry.
    • dunstonh
    • By dunstonh 7th Oct 17, 12:00 AM
    • 89,842 Posts
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    dunstonh
    • #4
    • 7th Oct 17, 12:00 AM
    • #4
    • 7th Oct 17, 12:00 AM
    your car insurance is not PPI. Your house insurance is not PPI. In fact the only insurance that is PPI is PPI.
    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.
    • Stephen Hartley
    • By Stephen Hartley 7th Oct 17, 10:00 AM
    • 2 Posts
    • 0 Thanks
    Stephen Hartley
    • #5
    • 7th Oct 17, 10:00 AM
    • #5
    • 7th Oct 17, 10:00 AM
    Thank you for your replies - much appreciated, although obviously disappointing.
    • Moneyineptitude
    • By Moneyineptitude 7th Oct 17, 10:03 AM
    • 19,506 Posts
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    Moneyineptitude
    • #6
    • 7th Oct 17, 10:03 AM
    • #6
    • 7th Oct 17, 10:03 AM
    obviously disappointing.
    Originally posted by Stephen Hartley
    Why would it be "disappointing" to find that you have a Life Assurance policy?

    Life insurance is highly recommended on a mortgage.

    You didn't have any mis-sold PPI and so haven't wasted any money..
    • dunstonh
    • By dunstonh 7th Oct 17, 11:02 AM
    • 89,842 Posts
    • 55,435 Thanks
    dunstonh
    • #7
    • 7th Oct 17, 11:02 AM
    • #7
    • 7th Oct 17, 11:02 AM
    I know of a mortgage adviser who had a tirade from a client who was moaning at him for not being missold. The person was disappointed he had not been mis-sold by the mortgage adviser as he wouldnt get any compensation. He didnt seem to appreciate the fact that not being missold is a good thing.

    There are some very strange people out there but I guess that is what happens with compensation culture.
    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.
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