Halifax Total Mortgage Protection Plan (TMPP) - Can I reclaim?

[Deleted User]

Mortgage PPI covers the self-employed.

I'm struggling to see how you can argue that your salary would cover the shortfall if your household income was suddenly halved?

Nothing you have said indicates any wrong-doing by the lender.


Most mortgage PPI complaints fail..

linaraman

Well, at that time I was in full time employment earning more than enough to pay for the small mortgage (around £450) plus living expenses. When we bought our house we could have afforded a bigger mortgage, but decided we don't want a big financial commitment. Hence TMPP wasn't needed and it was miss-sold as I believe it was presented to us as compulsory rather than a choice.

societys_child

took out TMPP in May 2002 which was sold by the Mortgage advisor I believe

Was this a bank mortgage advisor?

linaraman

Yes, I believe it was at Halifax Branch sold by bank Mortgage advisor.

[Deleted User]

linaraman wrote: »

Well, at that time I was in full time employment earning more than enough to pay for the small mortgage (around £450)

As I said, I'm struggling to see how you can say your salary alone was the same as two salaries. You are actually confirming that you did need the insurance

linaraman wrote: »

it was miss-sold as I believe it was presented to us as compulsory rather than a choice.

Earlier you said that you can't remember being sold the insurance??

Regardless, those kind of accusations are very weak since you cannot prove that you were told it was compulsory. In fact, some mortgage PPI was indeed compulsory-provided in exchange for "free" mortgage advice..

linaraman

Moneyineptitude wrote: »

As I said, I'm struggling to see how you can say your salary alone was the same as two salaries. You are actually confirming that you did need the insurance



Earlier you said that you can't remember being sold the insurance??

Regardless, those kind of accusations are very weak since you cannot prove that you were told it was compulsory. In fact, some mortgage PPI was indeed compulsory-provided in exchange for "free" mortgage advice..

I was earning around £900 pcm, so it is more than enough to cover the mortgage and living expenses at that time as everything was cheaper.
I am trying to remember what happened in dribs and drabs. I will need my husband to call Halifax bank and ask information as to how this product was sold and by whom. At the moment I am just speculating, as it was over 15 years ago, so cannot remember for sure. I think once I gather all information I will be able to see a clearer picture if I can make a successful claim or not. Here I was trying to get advice as hopefully someone has done this before.

[Deleted User]

linaraman wrote: »

I was earning around £900 pcm, so it is more than enough to cover the mortgage and living expenses at that time as everything was cheaper.

But your husband was also earning. If his income was removed, you'd have to pay for everything else as well as the mortgage.
What you have said is just confirming that you did have a financial need for the insurance.

If you had substantial savings, equivalent to around twelve months of mortgage payments, you might have an argument for saying you had no need of MPPI. Even then, you'd be called upon to provide proof of these savings.

linaraman wrote: »

I am trying to remember what happened in dribs and drabs.

Making it up as you go along? Your first post differs dramatically from your second.

linaraman wrote: »

At the moment I am just speculating, as it was over 15 years ago, so cannot remember for sure. I think once I gather all information I will be able to see a clearer picture if I can make a successful claim or not.

Such research is very wise.

linaraman wrote: »

Here I was trying to get advice as hopefully someone has done this before.

Plenty of people have done this before, but around 50% of MPPI complaints are rejected. MPPI is one of only two types of PPI still retailed and is not as simple matter to argue mis-sold as loan and credit card PPI.

linaraman

Moneyineptitude wrote: »

Mortgage PPI covers the self-employed.

I'm struggling to see how you can argue that your salary would cover the shortfall if your household income was suddenly halved?

Nothing you have said indicates any wrong-doing by the lender.


Most mortgage PPI complaints fail..

Just found this for self-employed people. And my husband was self-employed at that time, so should be straight forward claim according to the FCA. How come you mentioned Mortgage PPI covers self-employed? Or I am missing something?
How does this affect the self-employed?

The self-employed were amongst the biggest victims of PPI mis-selling. The insurance was often (and continues to be) advertised as a way of protecting the policyholder against the risk of losing their job. Many self-employed people were also sold the insurance, despite the fact that the terms of the policy frequently meant that they would not actually be covered.
If you were self-employed when you bought PPI, you should check the wording of your policy carefully. If it includes a clause that says you will be covered in the event of unemployment, you are likely to have grounds for reclaiming your premiums.
Additionally, you may be able to claim if you were simply not asked about your employment status, or if the cover was added without your knowledge. Both of these practices were apparently common.
There are several other circumstances in which you may be able to claim, but which are not directly linked to self-employment:
• Medical conditions. When you took out the policy, you had a pre-existing medical condition which you either were not asked about or which was ignored.
• Misinformation. You were told, or it was inferred, that PPI was compulsory, or that your application for credit would not be approved unless you took it.
• Time periods. The period of the PPI policy was not as long as the total term of your loan.
It is important to understand that this is not an exhaustive list of circumstances in which you might be able to reclaim your premiums. You may wish to seek legal advice if you think you were mis-sold PPI.

[Deleted User]

linaraman wrote: »

How come you mentioned Mortgage PPI covers self-employed?

Because it did in the vast majority of cases.

The research you say you will do with your husband needs to establish if your particular policy covered your partner. If it did not, you have a case for mis-selling.

No point complaining about being self employed, commission being added, told it was compulsory, or not needing the insurance unless any of these actually apply.

dunstonh

The TMPPP is not just a PPI plan.That is just one segment of the things it can offer and in most cases, the TMPPP wouldnt have the MPPI segment. It could have only the life assurance or the CIC or a combination.

Just found this for self-employed people. And my husband was self-employed at that time, so should be straight forward claim according to the FCA. How come you mentioned Mortgage PPI covers self-employed? Or I am missing something?
How does this affect the self-employed?

The TMPPP MPPI segment covers the self employed. It is not on of the types of PPI that does not.