Can you claim a PPI on a mortgage

magpiecottage

sickparrot wrote: »

No, I'm saying we overpaid by that amount, the replacement policies, like-for-like, were a third the cost.

You may (or may not) have paid more than you NEEDED to pay. However, you paid what you agreed to pay for the product you were offered. There is no reason to suppose that the product was misrepresented (in fact you say they told you of the possibility of less expensive products - which they did not need to).

So you might have overlooked what you were told but you did not overpay the provider.

CasparBone

Sorry to revamp this, just wondered if I had a leg to stand on.....
around 1993 I took out my 1st mortgage with the Halifax via the financial adviser at the estate agents. I was told I needed MPPI with Halifax in order to obtain this mortgage which I then paid for the next 8 years until I sold the property. At the time, and still now, should I fall ill, my employer would pay me 100% wage for 6 months, then 50% wage for the following 6 months if I fell ill. I was covered for accident through work insurance and via my life insurance and it is illegal to make me redundant. Whilst I have no documentation going back that far, Halifax have confirmed they still have details of my account. Whilst I can't prove what I was told by the mortgage adviser at the estate agents, surely I can show I was and still am covered in the same way by other means and would therefore never have required MPPI?
Any thoughts much appreciated thank you

[Deleted User]

CasparBone wrote: »

Whilst I can't prove what I was told by the mortgage adviser at the estate agents, surely I can show I was and still am covered in the same way by other means and would therefore never have required MPPI?

Just send the complaint and see what response you get.
Your complaint reason is weak because it's an unproveable allegation that might even be invalid by virtue of the insurance actually having been required in order to get free mortgage advice in return.
Most MPPI complaints are rejected.

dunstonh

At the time, and still now, should I fall ill, my employer would pay me 100% wage for 6 months, then 50% wage for the following 6 months if I fell ill.

Good reason with credit card and loan PPi but not with MPPI. FOS have been rejecting complaints on MPPi where people have that a a complaint reason.

Whilst I can't prove what I was told by the mortgage adviser at the estate agents, surely I can show I was and still am covered in the same way by other means and would therefore never have required MPPI?

Lack of proof means that point will be disregarded and employer benefits are irrelevant. it is also 12 years prior to regulation. So, unless it was a Halifax MPPI that was sold by a Halifax rep then it wouldnt even need to be considered as a complaint and can be rejected as pre regulation.

Twillo

Hi
I'm writing on behalf of a friend. She took out a mortgage with southern pacific in 2001-2002. She has no account details. She thinks she had ppi on the loan but can't be sure.
In 2009 she had her house re-possessed, I asked her why if she had payment protection wasn't the house saved. I'm just wondering how she would find out if she did have ppi on her mortgage if anyone can help

Cheers

On behalf of Marie

dunstonh

I'm writing on behalf of a friend. She took out a mortgage with southern pacific in 2001-2002. She has no account details. She thinks she had ppi on the loan but can't be sure.

if its was a mortgage then you would expect most of them to be monthly premium PPI paid by direct debit.

n 2009 she had her house re-possessed, I asked her why if she had payment protection wasn't the house saved.

Perhaps as she didnt have it.

roonaldo

dunstonh wrote: »

if its was a mortgage then you would expect most of them to be monthly premium PPI paid by direct debit.

Every greedy b*gger mortgage broker I ever worked for back in the day wouldn't bother selling the SPML's own policy monthly policy as there was no money in it so used to sell a single premium instead, the premium was taken from the remortgage funds.

magpiecottage

roonaldo wrote: »

Every greedy b*gger mortgage broker I ever worked for back in the day wouldn't bother selling the SPML's own policy monthly policy as there was no money in it so used to sell a single premium instead, the premium was taken from the remortgage funds.

That makes some sense with less mainstream lenders and remortgages (but was less common with more mainstream lenders).

However, the lender would know nothing about it.

Any complaint would need to be directed to the broker - using the Mortgage Code as a shoe in for FOS. However, that would not work unless the broker went on to be directly authorised by the FSA/FCA

ndepala

Hi

I need your help.

I took mortgage around 2001. I am not sure about exact name.
But it is either call SUN BANK OR THE MORTGAGE WORKS

Kindly advise which lender to approach for PPI claim

Thanks
Depala

Nearlyold

Who sold you the PPI? If the lender didn't sell it to you, you need to approach whoever did. Have you got any evidence you had PPI?