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Advice required on Claiming Mortgage PPI
lala9
Posts: 686 Forumite
Hi All
My partner has asked me to post this on his behalf.
Basically in October 2005 he was advised to take out PPI with Payment Shield when taking out his mortgage.
After reading up on all the PPI info available on here I am very confused. Does he write his initial complaint to the lender or the PPI provider? Does he have a case?
Please help... any advice gratefully received.
My partner has asked me to post this on his behalf.
Basically in October 2005 he was advised to take out PPI with Payment Shield when taking out his mortgage.
After reading up on all the PPI info available on here I am very confused. Does he write his initial complaint to the lender or the PPI provider? Does he have a case?
Please help... any advice gratefully received.
0
Comments
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What is he complaining about?
Mortgage PPI is, in principle, a good product. So much so that the old Mortgage Code Compliance Board actually advocated getting borrowers to sign disclaimers if they refused it.
This is because if you may lose your home if you do not keep up repayments on a mortgage or other loan secured on it.0 -
Basically in October 2005 he was advised to take out PPI with Payment Shield when taking out his mortgage.
Good.
1 - its advice and advice is to take out MPPI (still is today. Indeed, an adviser can face more trouble NOT recommending it when there is a need)
2 - its paymentshield which means it would have been set up correctlyDoes he write his initial complaint to the lender or the PPI provider?
Neither. The lender or the insurer has no liability for the advice you were given.Does he have a case?
You have given nothing which even hints at a mis-sale. Indeed, what little you have said indicates it was set up correctly.
Why do you think it was mis-sold and what evidence do you have to support this?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.0 -
Getting to the point now where people think just because they have any insurance at all it was "mis sold" and that it can be claimed back, blah blah blah blah0
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Getting to the point now where people think just because they have any insurance at all it was "mis sold" and that it can be claimed back, blah blah blah blah
The good news is that the FOS seem to have cottoned on to this now and the uphold rate has fallen by a third.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.0 -
!!!!!!! And there was me thinking of reclaiming my stick insects pet insurance!0
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