is ppi the same as mortage protection ???

katie1

hi all , i was just clearing out some paper work and found a old mortgage i had with Alliance and Leicester . It shows i paid payment protection cover is this the same as ppi can i make a claim the same way ??

di3004

Hi Katie

I assume it would be more or less the same.

However, I will leave this one for Dunstonh who will help and advise you on this one, good luck with this.;)

katie1

Thankyou di3004.

Dunstonh looks like you might be able to help , could you advise me on how i begin to claim this back please. The only paperwork ive forund is account number and details of a few date my premium will be going out by direct debit, Im stuck .

dunstonh

It shows i paid payment protection cover is this the same as ppi can i make a claim the same way ??

Yes and no.

Yes you are entitled to complain. You can complain about anything you like. However, the chances or success are far less likely on an MPPI than a loan or credit card.

If the MPPI was single premium then you have an easy mis-sale. It should be paid monthly.
If you were not eligible at point of sale, then you have grounds for complaint. If you were eligible then you dont.

Most loan/credit card PPI sales are easy to succeed on because there is little or no audit trail showing they checked suitability. However, with MPPI, most were sold with a mortgage or via an adviser. So, there is an audit trail and/or needs analysis with the majority of them.

Generally, if an MPPI is paid monthly and you are eligible and a financial need exists for cover then you are unlikely to succeed in a complaint unless you have evidence of wrong doing.

What would be your reasons for complaint?

katie1

i'm not really sure what ir covered but ifit was the same as a loan i had out , i wasnt working so wouldnt be covered for sickness and my husband has medical condition that isnt covered (well wasnt on other loan ) . how can i find out info like what it covered and terms an condition etc....

also i thought at the time we had to have it but i suppose that my own stupid fault .

katie1

bumping xx

dunstonh

. how can i find out info like what it covered and terms an condition etc....

ask the insurance company for policy details.

also i thought at the time we had to have it but i suppose that my own stupid fault .

Depends on when you took it out. The banks were allowed to insist on insurances back in the 90s to buy certain details. That was abolished later. If yours is one from that period then you may have been forced and they may have been allowed to do so. If its from a period when they were not allowed to force their insurance on you then unless you have evidence you were forced to have it then that point will largely be ignored.

Andy_Boro_2

you need the policy booklet