ppi

misty1

Im new to all this
would like to ask is there a time limit on claiming PPI reason I ask is I paid off my mortage app 2 years ago ,it was running for 25 years all told
any help would be great

dunstonh

would like to ask is there a time limit on claiming PPI reason I ask is I paid off my mortage app 2 years ago ,it was running for 25 years all told

There is no time limit but reality is that documents get destroyed after a while and increasingly that timescale is turning into 6 years. There is also the issue of dates when consumer protection started. Different distribution channels have different dates.

You also have to consider your complaint and the rules that were in place at the time of the sale.

MPPI has a far lower complaint rate than loan and credit card PPI and it also has a much lower complaint upheld rate. Mainly as it is the one PPI that is considered worth having. Even the Govt set benefits on the assumption that the person has MPPI. Generally, a compliant MPPI sale is monthly premium, where you have financial need and were eligible for cover. Most MPPI upheld complaints are single premium (that is nearly always considered bad as it should be monthly). A lesser amount are due to financial need and eligibility.

Remember that having MPPI is not grounds for complaint and not having a claim during the life of a policy doesnt mean you can complain. You need a valid mis-sale reason.

What would be your reason for complaint?
Who sold you the MPPI? (broker, adviser or lender)

misty1

many thanks it was a broker app 27 years ago

browneyez_2

I am new to posting so dont no if i am in the right place! but i need help i have little time on my hands but want to reclaim my ppi... is there a recommended company to use? thanks

magpiecottage

misty1 wrote: »

many thanks it was a broker app 27 years ago

If it was sold by a broker then neither the lender nor the insurer has any responsibilty for the sale.

The broker was not required to advise you and a complaint will almost certainly fall outside the jurisdiction of the Financial Ombudsman Service.

An attempt to sue the broker would also be likely to be blocked using Section 14B of the Limitation Act 1980 because it is more than 15 years since the sale was made.

I doubt very much that any action attempted now would be successful.

dunstonh

many thanks it was a broker app 27 years ago

Then you are timed out. In reality, you were never timed in as its pre regulation by a long way.

I am new to posting so dont no if i am in the right place! but i need help i have little time on my hands but want to reclaim my ppi... is there a recommended company to use? thanks

You are in the wrong place. It is considered rude to post an unrelated question to someone elses thread. Its known as thread hijacking. It can create confusion in the thread as you have multiple conversations going on and at worst, your question could take over the thread whilst the original poster doesnt get any responses. You should post on your own thread or look to see if your question has already been answered elsewhere.

As its your first time, I will give you the answer that you see on other threads. No-one here will recommend a claims company as
1 - this is a money saving site and wasting around 30% plus VAT on using a company to put a stamp on an envelope is not money saving
2 - there are far too many dodgy claims companies out there that use the same sort of template letters you can download for free from the web.
3 - you dont save any time and you dont improve your chances of success. Indeed its possible you reduce your chances if you happen to use a claims company on the firms blacklist.

If you want to discuss it further, please do not add it to this thread. Create your own one.