Can you claim a PPI on a mortgage

canadadry

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If you've arrived from Google, our PPI Reclaim guide may help.

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Just wondered if you could claim off a mortgage
as we took out a mortgage with Abbey National back in 1988 and I personally think the PPI was unfair as we were told it had to be on
my husband as he was the bread winner and brought home
the most money and we could not have the mortgage
unless we took out the PPI.

We have never claimed off it. Please advise.

Thank you

dunstonh

I think you mean complain, not claim.

You can complain about anything and any product if you want. You can even complain about the colour of the carpet at your bank.

MPPI is not quite the same as PPI on loans and credit cards. It has less issues and is recognised as not having the same degree of mis-sale. Its mainly single premium which is the problem with MPPI (as it is with all types of PPI). The other area is ineligbility.

as we took out a mortgage with Abbey National back in 1988 and I personally think the PPI was unfair as we were told it had to be on

It was quite acceptable for banks to insist on insurances back then. They were still able to that until around the mid 90s.

So, on the basis of what you have written, you have no grounds for complaint.

canadadry

Thank you appreciate your help..

UK007BullDog

NO, you CAN complain. As those policies were mis-sold too! And you will probably get a payout plus 8% interest.

The advisors may have put pressure on you to purchase the policy to get the mortgage in the first place.

And it makes no difference when it was sold, i.e. how long ago it was.

dunstonh

NO, you CAN complain. As those policies were mis-sold too! And you will probably get a payout plus 8% interest.

Yes they have been mis-sold but even the FSA acknowledge to a lot lower degree than other types of PPI and the key areas of mis-sale have been single premium MPPI and not eligible. Where its monthly, you were eligible and had a financial need, its very easy for a company to quite rightly reject the complaint.

There is nothing in what the OP has said that suggests any grounds for mis-sale.

And it makes no difference when it was sold, i.e. how long ago it was.

yes it does if the complaint reason is compulsary requirement and it was at that time. In 1988 many insurances were compulsary to get certain deals.

The advisors may have put pressure on you to purchase the policy to get the mortgage in the first place.

It was 1988. There wasnt advisers doing mortgages back then.

UK007BullDog

I dont want to start a war of words here, but the poster has a very good chance of getting their monies back as Santander is paying out all PPI and MPPI complaints.

Santander = A&L, Abbey and some other banks and building societies they bought over the years.

And yes, the mortgages were sold by "advisers".

Tugela

I have got PPI from Sterling on my mortgage and i pay that monthly by direct debit. Can i claim this back?
I was also told I had to have it when we took our mortgage out.
Thanks

dunstonh

I have got PPI from Sterling on my mortgage and i pay that monthly by direct debit. Can i claim this back?

On what grounds?

I was also told I had to have it when we took our mortgage out.

Compulsory insurance is not banned. Its when you are told it is compulsory when it isnt that is a mis-sale.

roonaldo

UK007BullDog wrote: »

I dont want to start a war of words here, but the poster has a very good chance of getting their monies back as Santander is paying out all PPI and MPPI complaints.

Santander = A&L, Abbey and some other banks and building societies they bought over the years.

And yes, the mortgages were sold by "advisers".

you sound like one of awful cmc's

Tugela

I am a little confused (or a lot!)
I applied to PaymentShield for a refund of my mortgage PPI and received this reply
"I must confirm that the policy in question is a stand along Mortgage Payment Protection Insurance and was not sold in connection to any loan of credit agreement
(so does this mean I have to have it?)
Letter goes on to say ....
"I can confirm that full policy documentation was issued on policyu inception which included full details of any restrictions or exclusions, cancellation rights and also the cost of the poolicy. I must therefore advise that I am unable to uphold your complaint and I cannot agree that a return of premiums should be awared in this case"
Ok, I really dont understand.... do I have to have MPPI or not as I was under the impression I did have to....... we got it free for 6 months and it just continued... no one ever advised otherwise
What should I do?

roonaldo

Tugela wrote: »

I am a little confused (or a lot!)
I applied to PaymentShield for a refund of my mortgage PPI and received this reply
"I must confirm that the policy in question is a stand along Mortgage Payment Protection Insurance and was not sold in connection to any loan of credit agreement
(so does this mean I have to have it?)
Letter goes on to say ....
"I can confirm that full policy documentation was issued on policyu inception which included full details of any restrictions or exclusions, cancellation rights and also the cost of the poolicy. I must therefore advise that I am unable to uphold your complaint and I cannot agree that a return of premiums should be awared in this case"
Ok, I really dont understand.... do I have to have MPPI or not as I was under the impression I did have to....... we got it free for 6 months and it just continued... no one ever advised otherwise
What should I do?

Its sounds like the PPI was taken out seperately to the mortgage, so this completely flawed your complaint.

PPI is not illegal and not wrong to have, what would you do if you were made redundent? Why do you really feel it was mis-sold? as nothing you have said sounds like a ppi mis-sale.

Some time in the near future this forum is going to have people on here moaning that they are being repossesed as they have lost their job and cancelled the PPI, and of course its not their fault fault. It is considered good advice in MCOB to protect mortgage.