Mortgage insurance

bdt1

Hi, new on here so apologise if naive.

Took out HBOS mortgage in 2004 with mortgage payment insurance cover for sickness etc. When wife found out 'unexpected' pregnancy in July 2005 thought insurance would kick in as she was main bread-winner in household and was to totally lose her pay from baby being born, as employer not obliged to pay anything, she was only in reeipt of SMP for 8 months.

But no........they the told us that as we hadn't had mortgage for 4 years then insurance cover wasn't valid!!!!!!!!! We promptly cancelled the so-called 'insurance' with Allied Dunbar. Just need to know where do we stand, can we claim regarding PPI for this period? It just seems a nonsense to pay mortgage insurance and then for them to turn around and say you don't qualify as not been paying for long enough???????

Any advice greatly appreciated

di3004

bdt1 wrote: »

Hi, new on here so apologise if naive.

Took out HBOS mortgage in 2004 with mortgage payment insurance cover for sickness etc. When wife found out 'unexpected' pregnancy in July 2005 thought insurance would kick in as she was main bread-winner in household and was to totally lose her pay from baby being born, as employer not obliged to pay anything, she was only in reeipt of SMP for 8 months.

But no........they the told us that as we hadn't had mortgage for 4 years then insurance cover wasn't valid!!!!!!!!! We promptly cancelled the so-called 'insurance' with Allied Dunbar. Just need to know where do we stand, can we claim regarding PPI for this period? It just seems a nonsense to pay mortgage insurance and then for them to turn around and say you don't qualify as not been paying for long enough???????

Any advice greatly appreciated

Hi there and welcome.;)

Yes you go for it, there is no harm in trying.

They have 8 weeks to respond in full and if not successful first time round, write back to them or until they send you the final response.
They should also inform you in the final response of the Financial ombudsman service (ANOTHER FREE SERVICE) if your not satisfied with their response.

I see your point here and would go for it, let us know how you get on and post by recorded delivery.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

The link I added there is more info on PPI and a letter template you can use to help your letter, but just add your own reasons, good luck.;)

Di
X

MrPhoton

Urghh just realized that what you were referring to (mortgage payment insurance) is different to lender's mortgage insurance, at least here in Australia. Instead of protecting the borrower, it protects the lender in the event of inability to pay.