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Mortgage insurance reclaim
JLondon_2
Posts: 2 Newbie
This is my first time posting so please forgive me if this has been asked and answered before.
I was recently checking my standing orders and noticed one that looked really old and could not for the life of me remember what it was for. I asked the bank to give me details and they gave me a contact number.
It turns out that the amount was for a mortgage payment protection payment that serviced a mortgage I moved to a different lender some seven years ago.
So in effect I have been paying this protection on a mortgage that no longer existed.
It totals about £1200 over paid in all.
Q1: Should the original mortgage provider have cancelled this.
Q2: Has anyone had a similar situation
Q3: Has anyone successfully been able to claim anything back.
Thank you for your time, and answers
I was recently checking my standing orders and noticed one that looked really old and could not for the life of me remember what it was for. I asked the bank to give me details and they gave me a contact number.
It turns out that the amount was for a mortgage payment protection payment that serviced a mortgage I moved to a different lender some seven years ago.
So in effect I have been paying this protection on a mortgage that no longer existed.
It totals about £1200 over paid in all.
Q1: Should the original mortgage provider have cancelled this.
Q2: Has anyone had a similar situation
Q3: Has anyone successfully been able to claim anything back.
Thank you for your time, and answers
0
Comments
-
Q1: Should the original mortgage provider have cancelled this.
If the MPPI was only applicable to their mortgage then they should have told you to cancel it (they cant actually cancel a standing order). If the MPPI is applicable to any mortgage then it is up to you if you keep it or not.
If you have other MPPI then you may be able to request a refund quoting dual insurance.
You should also slap yourself for being so poor at running your accounts.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.0 -
O....K....
Thanks for the advice, not sure I need the telling off though. No-ones perfect...0
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