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Mortgage payment protection policy
AJD1
Posts: 1 Newbie
Can anyone advise me ? I took out a MPPI policy 2 years ago for a fixed amount of £800 which at the time was my mortage payment of £550 and
£250 to cover household bills such as rates, gas, electric etc.
When I was made redudant in January, I put a claim in. To my horror
I only received around £290 and not the £800 I was expecting.
The reason for this was due to the change in interest rates, where my mortgage had dropped to £175 per month.I assumed that I was insured
for £800 per month irrespective if my mortgage payments went up or down.There is nothing in the policy document that mentions what happens
when mortgage payments change. Please advise me.
£250 to cover household bills such as rates, gas, electric etc.
When I was made redudant in January, I put a claim in. To my horror
I only received around £290 and not the £800 I was expecting.
The reason for this was due to the change in interest rates, where my mortgage had dropped to £175 per month.I assumed that I was insured
for £800 per month irrespective if my mortgage payments went up or down.There is nothing in the policy document that mentions what happens
when mortgage payments change. Please advise me.
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