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Leeds Building Society Mortgage PPi
boylesarah
Posts: 19 Forumite
Hi, I have had a Leeds Building society mortgage for almost 10 years and know that i have been 'accident cover' for the payments, i also have a life insurance policy which would cover the mortgage as well. Would it be worthwhile trying to recaim the payments from the buidling society as I didnt realis that they were ppi?
Thanks
Thanks
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Comments
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I'm confused. Life cover isn't PPI0
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What would you have done if you had lost you income through unemployment or sickness and been unable to meet your mortgage payments so that you ended up losing your home?0
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Would it be worthwhile trying to recaim the payments from the buidling society as I didnt realis that they were ppi?
If it was called chocolate would it make any difference to you?
The fact it is called PPI doesnt automatically give you grounds to reclaim premiums. Look at what it covers. Not what it is called. If you want to make a complaint, what would you complaint be? Why would you be complaining after nearly a decade of having the plan and not sooner?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 -
Sorry I was looking through so much stuff last night i was getting confused. Clearer head on today! I understand that i need the Mortgage payment protection - i also have cover through legal and general which i have had in place for a number of years - would it be worthwhile keeping this or cancelling it? Also, i see on my yearly statement that although it sets it out very clearly what i am payiung etc for mortgage protection it is being front loaded on a yearly basis rather than me paying it monthly even though it stipulates a monthly premium - am i therefore paying extra interest on this extra amount as i assume it is being added to my total mortgage amount. Hope this makes more sense!
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am i therefore paying extra interest on this extra amount as i assume it is being added to my total mortgage amount.
Don't asssume that. The lenders often used a sub account with a nil interest rate to cover insurances paid with the mortgage.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
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