Mortgage PPI claim

smiler.1

Hi
can I make a PPI claim on my mortgage loan even though I cancelled the insurance last June?? I took out the insurance with my mortgage loan in Jan 2003.
Thanks
Smiler x

dunstonh

can I make a PPI claim on my mortgage loan even though I cancelled the insurance last June?

Its not clear what you mean. So, i will cover the possible scenarios.

1 - If you mean claim on the insurance then no you cannot. If you dont have the policy in force and its lapsed then you are no longer covered and any claim will be rejected.

2 - if you mean can you complain about it being mis-sold then it is unlikely you will succeed unless you can prove you didnt have a financial need. MPPI is not the same as the PPI being disscussed mostly in this section. MPPI is mostly bought with advice (so documentary evidence of your circumstances and financial needs will exist along with the reasons why you agreed to take it out). Those not bought with advice tend to be what is known as execution only (often referred to as DIY on this site). In that case you chose to buy and no-one sold it to you.