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    • ClaireyLS
    • By ClaireyLS 7th Oct 17, 6:35 PM
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    ClaireyLS
    MPPI and Plevin
    • #1
    • 7th Oct 17, 6:35 PM
    MPPI and Plevin 7th Oct 17 at 6:35 PM
    HI there - hoping someone can offer some advice. I recently took a leap and approached the Skipton building society about a PPI...well, MPPI to be precise. When I took a mortgage out in 2001 it was at a capped rate for 5 years and we were told a condition of that was we had to take out MPPI for a minimum of the 5 year period of the capped rate. So we did.
    Is that a case of mis-selling, i.e. were they allowed to force that on us? They have come back to me saying that we knew we had the policy so it was not mis-soldand so we're not due any compensation. They have offered us around £400 under Plevin though, but I'm conscious that Martin has said not to just accept such offers in case building societies and the like are just trying to get off lightly, but instead go to the Ombudsman. Any thoughts? Do I have any kind of case for PPI reclaim or only the Plevin payout? Thanks all.
Page 1
    • zx81
    • By zx81 7th Oct 17, 6:41 PM
    • 13,691 Posts
    • 14,160 Thanks
    zx81
    • #2
    • 7th Oct 17, 6:41 PM
    • #2
    • 7th Oct 17, 6:41 PM
    If it was a condition of the mortgage, it wasn't mis sold.

    If they've offered redress, it's not negotiable. It's calculated on a defined process. Take it or leave it.
    • ClaireyLS
    • By ClaireyLS 7th Oct 17, 6:56 PM
    • 2 Posts
    • 0 Thanks
    ClaireyLS
    • #3
    • 7th Oct 17, 6:56 PM
    • #3
    • 7th Oct 17, 6:56 PM
    Yeah - happy with the calculation of the redress - they did send me a detailed calculation to look at and it all looks ok.

    Just wondered if they could force MPPI on you when you took a mortgage - thought I'd read something somewhere about that not being allowed after the late 1990s???
    • societys child
    • By societys child 7th Oct 17, 8:42 PM
    • 4,691 Posts
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    societys child
    • #4
    • 7th Oct 17, 8:42 PM
    • #4
    • 7th Oct 17, 8:42 PM
    Just wondered if they could force MPPI on you when you took a mortgage
    If it was a condition of them providing your mortgage, then it can't have been mis-sold.
    Mppi is still retailed today, it covers what could have life changing consequences if you were unable to cover your mortgage repayments.

    • dunstonh
    • By dunstonh 7th Oct 17, 11:24 PM
    • 89,851 Posts
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    dunstonh
    • #5
    • 7th Oct 17, 11:24 PM
    • #5
    • 7th Oct 17, 11:24 PM
    we were told a condition of that was we had to take out MPPI for a minimum of the 5 year period of the capped rate. So we did.
    Quite a lot of mortgage deals in the 90s had an insurance cross sale requirement to get the deal. That was and still is allowed as long as the insurance is suitable.

    Is that a case of mis-selling, i.e. were they allowed to force that on us?
    They didnt force it on you. You had a choice to have a different deal. Packaged deals exist in all parts of retail. If you dont want the package, you buy something else.

    They have offered us around £400 under Plevin though,
    Now that is a surprise. Most MPPI was expected to be under the tipping point for plevin.

    but I'm conscious that Martin has said not to just accept such offers in case building societies and the like are just trying to get off lightly, but instead go to the Ombudsman. Any thoughts?
    We know that most MPPI complaints fail and the FOS reject most MPPI complaints. The complaint response doesnt seem incorrect and nothing you have said suggests missale. So, why do you think the FOS would change the position?
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