PPI Refund on Mortgage?

alias7

One of my relatives is paying off their mortgage on Friday. Their mortgage includes PPI.

I have seen people saying they have had their PPI refunded on loans - can it be done on mortgages too?

How do you go about doing this and what circumstances can you claim PPI back?

mrmajika

I don't think people have had their PPI refunded on loans. They have cancelled the PPI, which is a completely different thing.

The analogy often used in these forums is the car insurance one.

You wouldn't think of trying to reclaim your car insurance after a year with no claims - the same applies with PPI, despite it being a very expensive insurance.

HTH

alias7

See here: http://forums.moneysavingexpert.com/showthread.html?t=363537

mrmajika

alias7 wrote:

See here: http://forums.moneysavingexpert.com/showthread.html?t=363537

I stand corrected!

It's a new one on me. Looks like you need to have a case of mis-selling. Not sure how much 'persuading' the banks will need to issue the refund.

Good luck with it!

regularsaver1

alias - what is the reason they are thinking of a refund?