Mortgage PPI on temporary contract

sue1976

My husband has suggested that our mortgage PPI was mid-sold as I was on a temporary contract at the time it was sold to us. The PPI was taken out in both our names but he says it was pointless my name being on it with my temporary employment ( the mortgage advisor was told this at the time but said that both names needed to be on the policy). Do you think we would have a case to claim back our PPI? Thanks

magpiecottage

It would depend on the actual terms of your policy, how long the contract was, how long you had continuously worked for the same employer and if the contract had already been renewed.

The chances of success would also depend on when you took the policy out, who the broker was and whether the PPI really was compulsory (for some loans it was).

sue1976

I had been employed for 6 months before the mortgage was taken out and the contract was to end 5 months later. This was with the Halifax in 2001.

roonaldo

I bet halifax didnt know about that on your mortgage application!

magpiecottage

roonaldo wrote: »

I bet halifax didnt know about that on your mortgage application!

Redress would be putting the OP back into the position they would have been in if they had not taken out either the PPI or the mortgage (since the lender would not have granted the mortgage)

That would amount to refunding the PPI premiums plus the mortgage interest, less what they would have paid in rent and the OP moving out and leaving the house for the lender to dispose of and keep the proceeds.

sue1976

roonaldo wrote: »

I bet halifax didnt know about that on your mortgage application!

They knew about the temporary contract as my job was discussed quite a bit when applying for the mortgage. I also thought the mortgage adviser would have to check both my employment status and my husbands before accepting us for a mortgage?