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MSE News: £60m refund for mortgage protection hike victims

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Former_MSE_Guy
Former_MSE_Guy Posts: 1,650 Forumite
I've been Money Tipped! Newshound! Chutzpah Haggler
edited 10 June 2010 at 5:03PM in Reclaim PPI & other insurance
This is the discussion thread for the following MSE News Story and provisional Automatic MPPI Refunds guide.

"Consumers whose mortgage payment protection insurance (MPPI) costs have increased this year will get an automatic refund following regulatory pressure ..."
Click here for full story:




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Comments

  • marshallka
    marshallka Posts: 14,585 Forumite
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    I bet dunstonh will elaborate on this one for us.:confused:
  • Former_MSE_Dan
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    Former MSE team member
  • di3004
    di3004 Posts: 42,579 Forumite
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    Does this also go for Stand alone insurance, such as Pinnacle as well then, as they also rised as well?
    I assume it would but not too sure, cheers.
    The one and only "Dizzy Di" :D
  • dunstonh
    dunstonh Posts: 117,049 Forumite
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    At the moment it appears to be budget income protection (PPI) and MPPI plans where the premiums increased. Not full income protection (PHI) plans though as they neither go up or down and are guaranteed.

    News is still a bit thin on the ground though as to clarifying if it is all plans though.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • di3004
    di3004 Posts: 42,579 Forumite
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    dunstonh wrote: »
    At the moment it appears to be budget income protection (PPI) and MPPI plans where the premiums increased. Not full income protection (PHI) plans though as they neither go up or down and are guaranteed.

    News is still a bit thin on the ground though as to clarifying if it is all plans though.

    Cheers Dunstonh.;)
    The one and only "Dizzy Di" :D
  • marshallka
    marshallka Posts: 14,585 Forumite
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    dunstonh wrote: »
    At the moment it appears to be budget income protection (PPI) and MPPI plans where the premiums increased. Not full income protection (PHI) plans though as they neither go up or down and are guaranteed.

    News is still a bit thin on the ground though as to clarifying if it is all plans though.
    We have income protection but not linked to the mortgage but they have put up the premium. I take it that this is nothing to do with it then either. Its just an income one..:confused:.
  • di3004
    di3004 Posts: 42,579 Forumite
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    marshallka wrote: »
    We have income protection but not linked to the mortgage but they have put up the premium. I take it that this is nothing to do with it then either. Its just an income one..:confused:.

    That is like ours Marshallka with Pinnacle.
    The one and only "Dizzy Di" :D
  • dunstonh
    dunstonh Posts: 117,049 Forumite
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    I would suspect they are included as they had virtually the same conditions. The only difference was the lack of linking to a mortgage.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • di3004
    di3004 Posts: 42,579 Forumite
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    Think ours went up an extra £4.50 a month something like that.
    The one and only "Dizzy Di" :D
  • marshallka
    marshallka Posts: 14,585 Forumite
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    dunstonh wrote: »
    I would suspect they are included as they had virtually the same conditions. The only difference was the lack of linking to a mortgage.
    Ok thanks for that. I think it went up by something like £10 a month and we have never had to claim on it ever and we have never defaulted on it either. Also we have never changed the amount of income protection. I will just have to read up a little more then and see.
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