PPI reclaim on Northern Rock mortgage

babyfruitella

When I took out a mortgage with Northern Rock I was told I had to have PPI insurance, so duly took it out. The mortgage was taken out in June 2004, & I made PPI repayments until my ex partner & I split & sold the property in 2007. I am no longer in contact with my ex partner. Am I still able to make a claim? And if so, what do I need to do to get the ball rolling? Thanks for any help you're able to offer.

magpiecottage

babyfruitella wrote: »

my ex partner & I split & sold the property in 2007. I am no longer in contact with my ex partner. Am I still able to make a claim?

A claim is what you make when you suffer an event covered by the policy. As the policy no longer exists, you cannot make a claim on it.

If you mean can you complain then it depends on a number of factors, first of which is did it cover both of you or you alone.

If it covered both of you then you will almost certainly not be able to complain a the firm you make the complaint against will not settle unless both of you give written confirmation that it is in full and final settlement.

If you do both complain then it will depend who sold you the policy. Northern Rock itself was subject to the jurisdiction of the Financial Ombudsman Service but if it was through a broker they will need to be in a position to meet any redress cost from their own resources as the Financial Services Compensation Scheme does not cover general insurance sales prior to 2005.

Even then, the Financial Ombudsman Service cannot intervene unless the broker subscribed to the General Insurance Standards Council's code of practice at the time.

Even if it did, a complaint can only be upheld if the policy was missold. Given that, at the time, the Mortgage Code Compliance Board had good practice notes that advocated getting borrowers to sign a disclaimer if they did NOT want cover, it is unlikely that the complaint would succeed unless it was a single premium policy and added to the loan.