GE money PPI not vaid

swallowbride

Hi,
We took out our mortgage in 2005 with GE Money, We took out a Self cert 100%.. The man that came to do all our paperwork knew My Husband is self employed thats why we done a 'self cert' He advised us to take out Mortgage protection. At the time we knew nothing about buying a house and all the stuff that goes with it so went along with his 'advice'.. Now we have found out that because OH is self employed the Mortgage protection isnt valid. We paid our protection in one lump sum, but added it to our mortgage, thus encuring interest over 30 years (term of mortgage), What Id like to find out is,
1. Who do I complain to?
a) sales man?
b) GE money
c) Mortgage protection?

2.Do I need to work out the total interst of the protection over the 30 years?

Still really confused and can I be doing with all the hassel of this (well if it means cash in my pocket of course, but if they make it difficult ill crumble)and deal with everyday stresses too?

HELP GREATFULLY RECEIVED.
Please feel free to put this in the right place if I havent, Never done this.. Cheers, X:o:question::question:

di3004

swallowbride wrote: »

Hi,
We took out our mortgage in 2005 with GE Money, We took out a Self cert 100%.. The man that came to do all our paperwork knew My Husband is self employed thats why we done a 'self cert' He advised us to take out Mortgage protection. At the time we knew nothing about buying a house and all the stuff that goes with it so went along with his 'advice'.. Now we have found out that because OH is self employed the Mortgage protection isnt valid. We paid our protection in one lump sum, but added it to our mortgage, thus encuring interest over 30 years (term of mortgage), What Id like to find out is,
1. Who do I complain to?
a) sales man?
b) GE money
c) Mortgage protection?

2.Do I need to work out the total interst of the protection over the 30 years?

Still really confused and can I be doing with all the hassel of this (well if it means cash in my pocket of course, but if they make it difficult ill crumble)and deal with everyday stresses too?

HELP GREATFULLY RECEIVED.
Please feel free to put this in the right place if I havent, Never done this.. Cheers, X:o:question::question:

Hello and welcome.;)

Another one here for Dunstonh, who I expect will post up shortly, Dunstonh has knowledge of these issues, as a financial adviser.
Good luck with this.

swallowbride

Thanks di300. ANY help or guidance will be fantastic, x

pinknico

Hello swallobride the man who sold you the loan who was he acting on behalf of?
If I am right dunstonh does say you can claim mis selling on lump sum mortgage protection, he should post up later.

swallowbride

Hi, Still not sure about who to send the first letter to.. The man who sold the motgage protaection was acting on behalf of the mortgage company i think... And then when he sells the ppi he gets commition?!....

melorablack

I would check if it really isn't valid because of your OH being self employed. A lot of policies do cover those who are self employed as long as they meet some special conditions.

The complaint needs to go to the company who sold you the insurnace and/or provide the insurance cover. If these are different then send it to both of them - they will sort out who is responsible at their end.

swallowbride

Hello again All, I was wonerding if the Broker that sold us the MPPI no longer exsists, where do I go?.. Thanks again.

di3004

swallowbride wrote: »

Hello again All, I was wonerding if the Broker that sold us the MPPI no longer exsists, where do I go?.. Thanks again.

Hi there

I would contact the Financial compensation scheme (FSCS) to ask if they are listed with these, if they are, you can then put in a claim with the FSCS, check with them first, if this is the case the FSCS will send you out a claim form.;)
http://www.fscs.org.uk/contacts/

swallowbride

Hi again. Would a solicitor be able to point me in the right direction?.. I know you can have so long free when you go to see them, Then hopefully they could tell me where to send my first letter. I would only use them for the initial free period, as this would benefit us more.. Thanks again, Anna,x

swallowbride

Hi, Does this mean we are to late to do any thing about it?.. Is reclaiming being stopped?.

di3004

swallowbride wrote: »

Hi again. Would a solicitor be able to point me in the right direction?.. I know you can have so long free when you go to see them, Then hopefully they could tell me where to send my first letter. I would only use them for the initial free period, as this would benefit us more.. Thanks again, Anna,x

Hi there

Some do use a solicitor, but personally as it can take some time, you don't want to risk any charges to pay out for.

Going back to the broker, to save me going back on posts, who was this and what year?

In case you can take this to the Financial compensation scheme (FSCS) which are free and they sort out the claims for you, if the business who have gone bust are registered with them.

Another way is to puruse through the insurer/underwriter.;)