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How do I know if Ive been sold PPI

west_is_best
west_is_best Posts: 1,797 Forumite
1,000 Posts Combo Breaker
in Reclaim PPI & other insurance
We have a mortage with Woolwich that expires next year, we started it back in 1989, is there a chance that we have been sold PPI..

Plus, Ive had a credit card with HSBC for about 30 years, have they been adding PPI without my knowledge??

Comments

  • DrSqueeze
    DrSqueeze Posts: 914 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    west_is_best wrote: »
    We have a mortage with Woolwich that expires next year, we started it back in 1989, is there a chance that we have been sold PPI..
    Check the paperwork or ask the bank.
    Plus, Ive had a credit card with HSBC for about 30 years, have they been adding PPI without my knowledge??
    If they have, it will be shown on your monthly statements.
  • dunstonh
    dunstonh Posts: 121,294 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    We have a mortage with Woolwich that expires next year, we started it back in 1989, is there a chance that we have been sold PPI..

    Absolutely there is a chance you have been sold MPPI (or ASU as it would have been called then). The Council of mortgage lenders had it as best advice that you should take it with a mortgage and even today it is considered best advice with the Govt setting benefits on the basis that you have MPPI.

    However, you would spot it as it would be paid as a monthly direct debit from your current account to an insurer.
    Plus, Ive had a credit card with HSBC for about 30 years, have they been adding PPI without my knowledge??

    So, you have had 360 statements where it would have appeared on if you had it.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • west_is_best
    west_is_best Posts: 1,797 Forumite
    1,000 Posts Combo Breaker
    dunstonh wrote: »
    Absolutely there is a chance you have been sold MPPI (or ASU as it would have been called then). The Council of mortgage lenders had it as best advice that you should take it with a mortgage and even today it is considered best advice with the Govt setting benefits on the basis that you have MPPI.

    However, you would spot it as it would be paid as a monthly direct debit from your current account to an insurer.


    So, you have had 360 statements where it would have appeared on if you had it.

    But we had an endowment mortgage, does that make a difference?



    Ok... that explains that then regarding the HSBC credit card, as I havent noticed anything on the statements...
  • magpiecottage
    magpiecottage Posts: 9,241 Forumite
    1,000 Posts Combo Breaker
    west_is_best wrote: »
    But we had an endowment mortgage, does that make a difference?

    No
  • magpiecottage
    magpiecottage Posts: 9,241 Forumite
    1,000 Posts Combo Breaker
    magpiecottage wrote: »
    west_is_best wrote: »
    But we had an endowment mortgage, does that make a difference?

    No - it is a completely different type of policy
  • dunstonh
    dunstonh Posts: 121,294 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    But we had an endowment mortgage, does that make a difference?

    None whatsoever. Its likes saying I have car insurance, does that make a difference.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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