Help: Miss sold Mortgage Protection

madaminx

dunstonh wrote: »

If you have no financial dependants (ie just you on the mortgage and no-one living with you) then there is no need for life assurance and that is an easy complaint to make which you would expect to be upheld.

Hi again

I am one of those people with no financial dependants, however I was led to believe that I would need it as "should something happen to me my parents (who are still living) or my sister would be liable for costs.

Can someone clarify this situation?

Many thanks

M

dunstonh

madaminx wrote: »

Hi again

I am one of those people with no financial dependants, however I was led to believe that I would need it as "should something happen to me my parents (who are still living) or my sister would be liable for costs.

Can someone clarify this situation?

Many thanks

M

Your parents or siblings are not liable for your debts.

The property would form part of your estate and any of your debts would be paid off from the sale of assets within your estate (the property being the main one). If there happens to be any shortfall and you have no more assets then the debt gets written off and cannot be claimed from anyone else.

If you had a sibling living with you then it could easily be argued that a life assurance need existed as the sibling would be kicked out of the house to sell it. So, a life assurance need would exist (much the same as spouse).

So, if you were told what you say then you have grounds for complaint as you were lied to. I would put it as strongly as that as its either downright lies you were told (which is effectively fraud) or total incompetence. I would use strong wording like that in your complaint.

PoppyHoppy

Just a quick update. Sent off my complaint to L&G. Received a phone call 2 days later from an advisor who is looking into my complaint. She clarified a few things and then confirmed she was looking into my case by letter.
Is this normal - or any indicator or things to come?

roonaldo

how did you get the mortgage being a temporary worker? did you self cert or something?

PoppyHoppy

No Ronaldo, I had a contract - but it was a little council project that ran until the money run out. Now I know a bit more about mortgages and how hard it is to get them - I'm wondering if the rep massaged the details.

funky04

Hi, I took out a mortgage with nationwide building society in 1984, and paid the mppi every month in addition to my mortgage payments.

No dependants at the time, both my husband and I were working fulltime.
mortgage is now paid off since 2009. Do you think I will be able to claim.

please would someone post a link to the claim letter/form, thanks

dunstonh

Hi, I took out a mortgage with nationwide building society in 1984, and paid the mppi every month in addition to my mortgage payments.

So, the first point is that it was set up correctly. So, all good there. However, its also worth noting that it is way before regulation.

Do you think I will be able to claim.

Nothing you have said suggests any reason for complaint (not claim as that is what you do when you are ill or are made redundant etc).

Back then, just as it is now, MPPI is considered best advice.