Mortgage PPI?

Sonofjoe

We took out a re-payment mortgage in 1988 because I was unable to get an endowment mortgage due to health reasons. Our first company was Portsmouth BS which was then taken over by Cheltenham & Glouster, then we changed to Halifax for a better rate. We sold our house in 2006 and cleared the mortgage in full.
We now live in Italy and do not have any of our paperwork from the mortgages
Our question is would we have been offered/charged a PPI?
If so would it be worth pursuing a claim?
Any help would be welcome

dunstonh

Our question is would we have been offered/charged a PPI?

Maybe, maybe not. Best advice from the council of mortgage lenders and still today from the FSA is that it should be recommended where you have a financial need. It is now the only PPI type that can be put in place at the same time as the debt and is generally considered the only PPI worth having for most people.

If so would it be worth pursuing a claim?

If you are not paying the insurance you cannot claim on the insurance. However, if you are talking about complaint then yes you can complain. You complain to the company that sold you the insurance (which may not be the lender) and you give them your reasons for complaint and supply them with evidence to support your complaint (not always needed if its an obvious failing or a factual reason) and provide information to help them identify you.

There is nothing wrong with having the product. The issue is whether it was sold and set up correctly.