Zurich mortgage, can I claim or only banks?

jarr

Would I have any luck claiming from a PPI from them? Or is it only banks?

roonaldo

insurance isnt reclaimable, but can be refunded if found to be mis-sold. you can complain to anyone, not just banks.

marshallka

If you feel it was missold for any reasons then of course you can complain. It goes for all firms and mortgage companies too.

jarr

I can't claim PPI on my mortgage then?

dunstonh

Would I have any luck claiming from a PPI from them?

Depends on whether you were mis-sold or not.

Or is it only banks?

You can complain about how you like. Maybe you didnt like the hairstyle of the person you saw. You could complain about that. Of course, the chances of success on a complaint will depend on what you are complaining about.

Why do you think you were mis-sold? That is the only thing that matters.

I can't claim PPI on my mortgage then?

Yes if you have been made redundant, had an accident or sickness. Or do you mean complain? If you mean complain, then what is your complaint?

jarr

dunstonh wrote: »

Depends on whether you were mis-sold or not.



You can complain about how you like. Maybe you didnt like the hairstyle of the person you saw. You could complain about that. Of course, the chances of success on a complaint will depend on what you are complaining about.

Why do you think you were mis-sold? That is the only thing that matters.



Yes if you have been made redundant, had an accident or sickness. Or do you mean complain? If you mean complain, then what is your complaint?

It was back in 1999 we first had it but we had a review in 2006 and carried on with it. Only my job is covered. If I lost it my wife could easily carry on paying with her earnings, we have a few thousand in our savings, our parents could help out and we could take a mortgage 'holiday' if I was looking for another job. On hindsight I don't think I need it and he should have advised against it? I think we were a bit naive and just let it carry on in hindsight but it's only now that it's been highlighted in the media I've studied it properly.

dunstonh

jarr wrote: »

It was back in 1999 we first had it but we had a review in 2006 and carried on with it. Only my job is covered. If I lost it my wife could easily carry on paying with her earnings, we have a few thousand in our savings, our parents could help out and we could take a mortgage 'holiday' if I was looking for another job. On hindsight I don't think I need it and he should have advised against it? I think we were a bit naive and just let it carry on in hindsight but it's only now that it's been highlighted in the media I've studied it properly.

Based on what you have said you have a financial need for it. So, it looks like a justifiable sale.

Parents are not a justifiable reason not to have it. Parents may spend their own money or go into care and not be able to gift it or may suffer their own problems. A few thousand pounds is well below the typical emergency fund. Mortgage payment holidays are not guaranteed. Indeed, some lenders no longer give them to those with financial problems.

Also, its paid monthly it is set up correctly. It was also set up way before regulation.

MPPI has a much lower complaint ratio compared to loans and credit cards. This is mainly as MPPI is one of the few PPI plans worth having. The council of mortgage lenders recommended it. The DWP set state benefits on the basis of people having it (and tough if you dont). The FSA found it had less issues with how it was sold and the biggest issue it had was in cases of single premium (it should be monthly).

Also, by using Zurich you have used a qualified adviser under an advice process. Not a sales process using unqualified staff.

So, based on what you have said so far, I cant see a reason for complaint.

jarr

OK thanks for your help. I personally don't think I need it and will be stopping it. I'm quite confident both our jobs are safe especially my wife's.