told, I could not claim back on "MortgageSure"

macklinian

Took a Mortgage out with lloyds TSB 20 years ago and was advised to take a product called MortgageSure. When I asked TSB if I could claim this back after paying it for the duration, they told me I could not. Has anyone successfully claimed back from this yet? Thanks.

magpiecottage

Why do you think you should be entitled to?

dunstonh

When I asked TSB if I could claim this back after paying it for the duration, they told me I could not.

Of course you cant. What made you think you could?

macklinian

At the time of taking the mortgage I was advised heavily by the bank to take out various products of their's, this being one of them. Being a first time buyer, young and rarther naive at the time, my wife and I were led to believe that we had to take product. Dunstonh, Thanks for your answer but could you please explain why I can't, rarther than just saying so, as did the TSB. Thank you.

dunstonh

At the time of taking the mortgage I was advised heavily by the bank to take out various products of their's, this being one of them.

Quite normal. a) the taking on of a major debt sees most people take out insurances b) they are a salesforce who sell their own product range. c) being advised to take it out is correct. Its when its not advice and you are lied to that its wrong (but damned near impossible to prove)

mommame

I also am still paying it on mine but my friend said if my husband is not working they wony pay out as he is self employed,is this true does anyone know.
m

dunstonh

mommame wrote: »

I also am still paying it on mine but my friend said if my husband is not working they wony pay out as he is self employed,is this true does anyone know.
m

Most PPI plans do cover self employed. Some do not. You will have to look at your own policy to see if it applies to you. However, is the cover on you or your husband or split between you? If its just you, then your husband doesnt matter.

mommame

No its my husband only and we have been paying it since 1994 and never claimed as he is usually only out of work for a few weeks so not long enough to claim must be 3 months but he has been out for nearly a year even though he has had very small £90 jobs etc here and there,we didnt claim as we were managing ok and kept thinking if we start a claim he might get work by the time it kicks in,stupid I know but with me being ill and in and out of hospital he leaves all this stuff to me and only now this week I feel I can actually concentrate on the bills etc.
I can just about pay my mortgage this month but that's it then I will have to ring them and ask for a payment holiday until the claim is looked at.
I just cant face it if they say we are not eligable after paying it all these years.

dunstonh

never claimed as he is usually only out of work for a few weeks so not long enough to claim must be 3 months but he has been out for nearly a year even though he has had very small £90 jobs etc here and there,

Still trading but being light on jobs is not the same as being unemployed. To be unemployed he has to cease trading and sign on. He cant do that whilst paying class 2 NI and still trading.

I just cant face it if they say we are not eligable after paying it all these years.

Based on limited info here only and generic information on PPI, they will probably say he is elgible under self employment but not eligible to claim as he is still trading.

mommame

Thanks for helping me and I do understand about the small bits he has done since his last proper job like our neighbours copings got knocked off £20 and in september a friend had loose patio slabs and a cracked doorstep needed doing so still only £120 but he has not claimed unemployment as he has been looking after me since october after a knee op and not available for work anyway.
Got to get it sorted anyway pretty soon.
Apologies to the op for pinching his thread by the way,sorry:)))

peter_malone

i was sold mortgagesure told at the time if i didnot take it out i could not have my mortgage it as cost me over £3000 and i still donot know if it is ppi ?