Help needed

pepperpot7

Hi, I'm totally confused on PPI. My husband and I took out a mortgage with Abbey in 1999 and paid it off whenwe moved house in 2006. It was a repayment mortgage along with an endowment mortgage. We paid a monthly fee of £231.52 on the repayment and £274.95 on the endowment. Building/contents and Payment care payment were included in the repayment. We cashed in the endowment when we sold the house and got back over £8,000 in 2006. When we took out the mortage we had no idea you could go elsewhere for the insurances, Abbey gave us a quote for the whole mortgage. When my husband was made redundant in 2006 we put in a claim which was successful and paid the repayment mortgage untill we sold. Can you tell me would we be able to claim anything or not?

magpiecottage

The fact that it paid out after 7 years suggests that it was a monthly premium policy - single premium ones typically last for 5, whilst the policy paying out demonstrates a need for cover and that you were eligible to claim.

That has eliminated the three main reasons for upholding a complaint in one hit.

The fact that you might have been able to get cheaper cover elsewhere is irrelevant.

pepperpot7

Thanks for your input. It's just so confusing to know whether to claim or not. Advisers on internet say I could claim up to £3,000 after I put in all details

magpiecottage

Pepperpot7 wrote: »

Advisers on internet say I could claim up to £3,000 after I put in all details

They are NOT advisers, they are unqualified and simply looking for a hefty wedge of the redress which some people are entitled to.

~Brock~

I find the whole basis of your question quite distasteful actually.

You accepted someone's advice in 1999 to protect the repayment of what in most people's lives is their biggest and most important single purchase - their house.

As a result of this advice the policy was there to help you out when you needed it most some 7 years later and possibly keep your roof over your heads.

You now pipe up some six years afterwards and say you are thinking about making a claim that the policy was mis-sold to you in the first place....which will have to involve the making up of allegations that the original adviser acted wrongly and/or was incompetent in their actions, when most people would have been thankful to them for their actions.

Is this what this 'reclaiming' bandwagon has become?

Good luck, but I hope you fail.

pepperpot7

Definitely not jumping on "the bandwagon" and think your comment is extremely harsh. If I was I would have just claimed instead of asking my question first. I certainly do not want to claim for anything I am not entitled to - I thought this was the point of a site like this, to get your facts right by the help of good people taking the time to help you.