Halifax Total Mortgage Protection Plan PPI reclamation ?

magpiecottage

MCGONIS wrote: »

I have a similar thread on here about the Halifax TMP. It concerns my parents' mortgage rather than my own. Based on posts I have read on this site, I chose not to contact the bank direct and instead went to a claims management company in the hope they can assist.

They can - for an enormous win fee they can save you the bother of putting a stamp on an envelope.

the replies I got on here more or less said I had no cause to complain.

You don't. Any dispute is between your parents and whoever sold the policy to them the policy. You are not eligible to complain. It is a really easy rejection.

-SDW-

dunstonh wrote: »

What grounds was it ruled mis-sold as it puts you in a minority (unlike loan/credit card where figures are right up at the 90% range)?

they told me i had to have it as i was self employed even though i had my own cirencester accident insurance which paid out £1000 a month, wife worked in local authority with usual benefits..

dunstonh

they told me i had to have it as i was self employed even though i had my own cirencester accident insurance which paid out £1000 a month, wife worked in local authority with usual benefits..

The cirencester policy was probably the reason that they upheld it.

The three key areas are:

1 - it should be monthly, not single premium
2 - you should have a financial need
3 - you should be eligible.

Number 2 looks as if its the area that yours failed on.

You being told you had to have it has little to do with it as you wont get a complaint upheld on that basis alone without proof unless there is another area it fails in (which in your case is the insurance overlap with existing benefits)

3yearstogo

HI, Just an update on the outcome of my case. I sent an e-mail to halifax about 3 weeks ago through their online contact us page just to say what had happened and that I was sold TMP via their mortgage advisor and told i HAD TO HAVE it before they would give me the mortgage. Got a letter today saying they will refund all payments plus 8% interest due to this. Looks like they are still refunding payments quite quickly just now and no evidence was required.

Cancelling the plan now and going to find a better product for my life insurance/critical illness as the TMP only covered death in this case - which is not what I was lead to believe.

:money: Thanks to this forum!

dunstonh

I sent an e-mail to halifax about 3 weeks ago through their online contact us page just to say what had happened and that I was sold TMP via their mortgage advisor and told i HAD TO HAVE it before they would give me the mortgage. Got a letter today saying they will refund all payments plus 8% interest due to this. Looks like they are still refunding payments quite quickly just now and no evidence was required.

Whilst this works for Halifax. It would not work with most brokers or other banks. Halifax have been auto-upholding virtually everything going.

Cancelling the plan now and going to find a better product for my life insurance/critical illness as the TMP only covered death in this case - which is not what I was lead to believe.

Which just highlights the case as you dont even have PPI. It would have been a doddle for them to reject your complaint but you got lucky with the auto-uphold they are giving.

Kshirl

Hi, can forum users help me please? I recently received a printout from Halifax listing all loans, credit cards, etc. that I'd had with them (both open and closed). One of the transactions is for (Total Mortgage Protection Network) and has a reference number commencing TMP.

Could you please advise me if this looks like Halifax Total Mortgage Protection? If so, could you please advise me where I would get a copy of the policy or at least details of when I opened/closed the account and monthly premium (it ended in 2005)? I did have a previous mortgage with Halifax from 1992 to 2005 (this is also listed on the printout).

Also, assuming that it is for TMP, where do I send a complaint for a missold policy?

I'd appreciate any advice from people who have had these policies running.

Thanks in advance.

dunstonh

Kshirl wrote: »

Hi, can forum users help me please? I recently received a printout from Halifax listing all loans, credit cards, etc. that I'd had with them (both open and closed). One of the transactions is for (Total Mortgage Protection Network) and has a reference number commencing TMP.

Could you please advise me if this looks like Halifax Total Mortgage Protection? If so, could you please advise me where I would get a copy of the policy or at least details of when I opened/closed the account and monthly premium (it ended in 2005)? I did have a previous mortgage with Halifax from 1992 to 2005 (this is also listed on the printout).

Also, assuming that it is for TMP, where do I send a complaint for a missold policy?

I'd appreciate any advice from people who have had these policies running.

Thanks in advance.

answered on your duplicate post.

moneyjac

We had a Halifax Mortgage with TMPP in 2002 after a few years we changed to Barclays Mortgage but kept the TMPP because Barclays said they couldn't give the same Insurance because my husband was Self Employed, two years ago my husband had no work and we tried to claim but they told us we couldn't claim on the grounds that he wasn't out of work for long enough. After reading all these claims I am wondering was ours mis sold the thing is we still have the insurance and it is costing us a fortune, any advice would be appreciated.

dunstonh

two years ago my husband had no work and we tried to claim but they told us we couldn't claim on the grounds that he wasn't out of work for long enough.

All PPI policies require a minimum period of unemployment. This ranges from 30 days to 90 days. The better ones will return to day for payout purposes one once you have been unemployed for that minimum period.

After reading all these claims I am wondering was ours mis sold the thing is we still have the insurance and it is costing us a fortune, any advice would be appreciated.

Nothing you have said suggests any mis-sale. The policy would have paid out had he been unemployed for a longer period. The terms are published and you agreed them when you took them out. When you changed mortgages, you decided to stick with the existing product as you felt it was better (as it happens had you seen an IFA you would have got better still but banks can only sell their own product).

If you take out life assurance then you cannot complain you were mis-sold because you didnt die. You are in effect asking the same thing here with this product.

Evander

Am I correct in thinking I was sold mortgage protection incorrectly since my employer pays 6 months full and 6 months half pay if I was off sick from work?