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  • FIRST POST
    • marjrie
    • By marjrie 7th Feb 18, 5:08 PM
    • 156Posts
    • 132Thanks
    marjrie
    Nationwide mortgage, possible ppi?
    • #1
    • 7th Feb 18, 5:08 PM
    Nationwide mortgage, possible ppi? 7th Feb 18 at 5:08 PM
    I don't know if I'm asking in correct place, sorry if I've posted this somewhere else already.

    We took out a mortgage with nationwide in 1983 and it was paid off in 20 years.
    I had one of those companies phone me the other day that made me wonder if we may have had ppi on the mortgage.
    I was tempted to let them investigate for me, but thought I'd ask on here first if I could do this myself. I think I can probably find the mortgage account number.
    I've read the sticky pages until my head is spinning. We are getting on in years, and not particularly computer savvy.
    What does any of you think? Is there a chance? Where do we start?
Page 1
    • zx81
    • By zx81 7th Feb 18, 6:16 PM
    • 15,487 Posts
    • 16,414 Thanks
    zx81
    • #2
    • 7th Feb 18, 6:16 PM
    • #2
    • 7th Feb 18, 6:16 PM
    You may have. But it was generally a good idea to have it and not often mis sold.

    Why do you think it may have been mis sold to you?

    If you pursue a complaint, only use a claims company if stamps are unavailable for purchase in your locality.
    • marjrie
    • By marjrie 7th Feb 18, 6:30 PM
    • 156 Posts
    • 132 Thanks
    marjrie
    • #3
    • 7th Feb 18, 6:30 PM
    • #3
    • 7th Feb 18, 6:30 PM
    I don't remember being asked if we wanted it?
    • dunstonh
    • By dunstonh 7th Feb 18, 6:30 PM
    • 91,051 Posts
    • 58,066 Thanks
    dunstonh
    • #4
    • 7th Feb 18, 6:30 PM
    • #4
    • 7th Feb 18, 6:30 PM
    What does any of you think? Is there a chance? Where do we start?
    1983 is right at the start of when PPI became available but about 7 years before banks started getting heavy with their sales methods.

    Anything is possible. However, the fact this predates the data protection act and financial services regulation and is generally before building societies sold their own branded products means that finding out you had it, let alone if you were in the minority of people missold it, is going to be tough.
    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 an Independent Financial Adviser local to you.
    • marjrie
    • By marjrie 16th Feb 18, 3:33 PM
    • 156 Posts
    • 132 Thanks
    marjrie
    • #5
    • 16th Feb 18, 3:33 PM
    • #5
    • 16th Feb 18, 3:33 PM
    I phoned Nationwide this morning and they confirmed we had ppi on the mortgage.

    We didn't know we had this, when we took the mortgage and all through his working life my husband was self employed. I have been a stay at home parent and not done any paid work.

    They told me to fill in the online complaint form, is this in your opinions my best way forward?
    • zx81
    • By zx81 16th Feb 18, 3:45 PM
    • 15,487 Posts
    • 16,414 Thanks
    zx81
    • #6
    • 16th Feb 18, 3:45 PM
    • #6
    • 16th Feb 18, 3:45 PM
    It's the only way forward if you want to make a complaint.
    • dunstonh
    • By dunstonh 16th Feb 18, 4:11 PM
    • 91,051 Posts
    • 58,066 Thanks
    dunstonh
    • #7
    • 16th Feb 18, 4:11 PM
    • #7
    • 16th Feb 18, 4:11 PM
    We didn't know we had this, when we took the mortgage and all through his working life my husband was self employed.
    Some versions of Nationwide PPI didnt cover the self employed. That is very rare with MPPI. Most MPPI covers the self employed fine.

    However, as we are talking about a PPI policy from 1983 and before financial services regulation and before the time they sold their own product, we don't know what version you have.

    Personally, I am gobsmacked they found a record of a 1983 sale that predates the Building Societies Act 1986.

    They told me to fill in the online complaint form, is this in your opinions my best way forward?
    If the version is one of the types that does not cover self employed and they have a payment record of it, then go for it. If its a type that does cover self employed, then you havent indicated any other reason that is likely to result in an upheld complaint. You will never know if you dont complain.
    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 an Independent Financial Adviser local to you.
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