Mortgage PPI Help

ccqueen

Hi Hope someone can help me on here.

I am claiming back PPI on a loan with welcome and filled in the FOS form etc.

I am now looking at the PPI I had on my old mortgage with ex husband and just wondered do i go approach it in the same way as the loan?

Complete the form and send it off or is there a template letter?

Hope someone can help me.

di3004

Hi

I'm sure Dunstonh will be along at some point today with some helpful advice for you, good luck.

dunstonh

I am now looking at the PPI I had on my old mortgage with ex husband and just wondered do i go approach it in the same way as the loan?

Mortgage PPI is different most of the time. Mainly due to how it is sold and how it is set up.

MPPI should be set up as a monthly payment. If its added to the mortgage as a single payment up front then that is a mis-sale. If its paid monthly then its not. Assuming its not front loaded on the mortgage then you cant complain about interest being added to it (a common loan/credit card PPI issue).

Most MPPI are either sold under an advice process or bought DIY. So, you cant complain that the person isnt qualified or that your information wasnt asked (no need on DIY cases to ask information and with advice, they will have factfinded you and completed a needs analysis). There may be a small number of cases where factfind and needs analysis was done but the advice was wrong but its a minority of cases.

Not having a financial need is a possible one. i.e. if your employer pays 6 months full, 6 months half pay for sickness then you may have a case.
Not eligible is a possibility to. However, MPPI tend to offer wider coverage than loan and credit card PPI.

Complete the form and send it off or is there a template letter?
Hope someone can help me.

What would be your reason for mis-sale?

ccqueen

When we got the mortgage we were told we had to have all the covers with it as my now ex husband would of been past retirement by the time the mortgage was paid.

I work in the Insurance industry so had covers in place with my employment should i have long term sick etc.

Just thought i would ask the question really to see if there was any way to reclaim as we were told we had to have it

I will leave it then as it wasn't technically mis-sold we just weren't given a choice.

Thanks for your help.

BTW I deal with business Insurance so know nothing of personal covers.

dunstonh

When we got the mortgage we were told we had to have all the covers with it as my now ex husband would of been past retirement by the time the mortgage was paid.

Difficult one to prove. You are unlikely to have any evidence to support that and they wont admit it. Although some lenders did insist on it in the past with certain deals and were allowed to back then.

I work in the Insurance industry so had covers in place with my employment should i have long term sick etc.

That may give you some grounds for complaint if the cover includes you and your sick pay is 6 months full pay, 6 months half pay.

roonaldo

if your not on speaking terms with your ex your complaint wont even get off the ground, as the lender would need his written authority (also any payment would be due to him too)