Is Accident Sickness and Unemployment the same as PPI?

kingofherts

Hi Everyone

A few years ago a broker arranged a mortgage for me and included something called ASU from a company called ASUguard. I still have the policy and it was about £5000. do i have a case to reclaim this?

I don't have that mortgage anymore as i have remortgaged since

Thanks

Andy

melorablack

Yes it is a type of PPI

As for do you have a case to reclaim it - was it mis sold?

kingofherts

it was just added as part of the deal, from what i can remember we were never 'offered' it, as i said a broker did the deal (Anglian) so i thought it was mandatory and the premium was added to the the total loan

dunstonh

ASU, if regular monthly payments and not taken as part of the loan, is not a mis-sale. If single premium and included in the loan then its usually is a mis-sale.

kingofherts

Thanks Dunston

It was a lump sum added to the total loan, so where do i start lol

the premium was over £5,000 does this mean i can try to claim the whole lot back, as that would get me out of a lovely little pickle at the moment

Cheers
Andy

dunstonh

It was a lump sum added to the total loan, so where do i start lol

This is an easy complaint then. Look at the template letters on this site and pull the bits that relate to single premium and the fact it was added to the loan. Mortgage payment protection should be monthly and by direct debit from your bank account. The uphold rate on single premium complaints in over 90%. You wont need to prove anything or add any other waffle to the letter. Short, sweet and to the point should do it.

the premium was over £5,000 does this mean i can try to claim the whole lot back, as that would get me out of a lovely little pickle at the moment

You should ask for the return of the premium plus interest. You may not get that amount it as they may deduct the monthly equivalent of the insurance out of that but you will get something back.

marshallka

dunstonh wrote: »

This is an easy complaint then. Look at the template letters on this site and pull the bits that relate to single premium and the fact it was added to the loan. Mortgage payment protection should be monthly and by direct debit from your bank account. The uphold rate on single premium complaints in over 90%. You wont need to prove anything or add any other waffle to the letter. Short, sweet and to the point should do it.



You should ask for the return of the premium plus interest. You may not get that amount it as they may deduct the monthly equivalent of the insurance out of that but you will get something back.

Also 8% statutory interest too as a court would award.;)