Didn't know we had PPI, but needed it

dazza6561

Hello Forum users.

I would be very grateful for any help and advice on the following issue. I will try not to get to detailed and keep it as simple as I can.

In January 2007 my wife and I re-mortgaged our house. It was done through a broker from the Mortgage Matters Partnership. He visited our house twice to complete the forms and close the deal.

In June 2009 I became ill and was not able to continue work. As I was a contractor, I lost the position. I have not returned to work since.

In April 2010 my wife became ill and she too was forced to finish work. She is still ill today and I am her official carer.

Towards the end of 2010 we had missed some payments on our mortgage and Accord Mortgages started legal proceedings against us. We are now in the position that if one more payment is missed, Accord will be able to evict us.

Two weeks ago I received a letter through the post from a firm I have never heard of called Assurant Solutions.

They stated that our Payment Protection Insurance policy was about to end and told us what to do to renew it.

We did not even know that we had any payment protection otherwise we would have initiated it when I finished work.

Further more, there is nothing about PPI mentioned in our "Key Facts" document which we were given when we took out the mortgage.

Assurant have sent me a claim form but to get the information they are asking for will be quite difficult. They want tax returns, doctors notes, ex employer information and a whole load of stuff designed to make claiming difficult.

I feel it may be easier to try and reclaim the PPI.

We had absolutely no knowledge of this policy or any details on how to claim on it. Accord never once mentioned it during the legal proceedings they brought against us.

The broker did tell me to arrange life Insurance, which I did, but I am positive that we did not agree to any PPI and as stated above, no details were mentioned of it in the mortgage key facts documents.

I would be very grateful for any advice on which way to go with this please.

Thanks very much.

Darren

magpiecottage

If you took the policy out in early 2007 and it is now expiring it sounds like a single premium added to the loan. The insurer will be able to confirm if it was single premium and without adding it to the loan you would not have been able to pay it.

If so, you have a valid complaint against the broker.

Against that, you should claim on the policy because you have a duty to mitigate your losses.

dazza6561

Thanks very much for that Magpiecottage.

The mortgage is with Accord Mortgages. The Broker used was Mortgage Matters and the PPI firm is Assurant Solutions.

Are you saying that my claim for mis sold PPI would be against Mortgage Matters?

Should I claim on the policy as well as claiming it was mis sold?

having seen quite a few breakdowns of our mortgage cost, I do not recall ever seeing that x amount per month was going to the ppi, so would that confirm the single premium thing.



Thanks in advance.

Darren

magpiecottage

Exactly.

Claim on the policy because the insurer will pay if you were eligible for cover.

There are a number of firms called Mortgage Matters. Make sure you choose the right one.

dazza6561

Ok Thx very much for that Magpie.

Just so I have it straight, You think I should claim on the policy to Assurant, as I was entitled to claim. And then I should claim it was mis-sold by the Mortgage Matters Partnership.

If thats right, can you point me in the direction of making the claim for mis-sold ppi on this site.

Thanks ever so much again my friend.

Darren

dunstonh

You claim to the insurer when you suffer a claimable event.

You complain to the seller if you have a complaint about something they have done.

dazza6561

Yes DunstonH, I realise that. My question is, do i do both of these things?

Cheers

magpiecottage

dazza6561 wrote: »

can you point me in the direction of making the claim for mis-sold ppi on this site.

8 Stockport Road
Altrincham
Cheshire
WA15 8ET

Get proof of posting (free from the Post Office). No need for recorded delivery.

Or if you have a fax modem or can use a fax the number is 0161 942 1817. That is cheaper than a stamp, arrives instantly and you get a receipt to show it has.

This evidence will be considered by FOS as sufficient evidence that the complaint was received if they don't bother to reply.

The letter simply needs to say "I am complaining that you missold me a single premium payment protection policy but did not check it was suitable for me and did not explain the true cost of adding the premium to the loan".

Keep a copy of the letter and the proof of posting/fax receipt.

dazza6561

Thanks for that Magpiecottage, much appreciated. I take it this is the address for "The Mortgage Matters Partnership"?

I think it is worse than just being mis-sold. We knew absolutely nothing about it. So I believe it was fraudulently added to our costs.

We have actually been through the horrendous process of eviction, and are currently hanging on by a thread. Surely, the position we have been put in by not knowing of the policy's existence makes this particular matter worse than just being mis sold. Are we not due compensation for having to go through that? If we had any knowledge of the policy we might not have arrears on our mortgage now.

There is around £6k arrears now and quite a bit of this has come from solicitors fees and stuff added on. It is not purely made up of missed payments. So if I claim on the policy or claim it was mis sold, we could still be in arrears through no fault of our own. What would be the situation then?

Assurant emailed me this morning to confirm that it was a single premium payment but I still do not know exactly how much it cost.

Thanks again friend.

Darren

dazza6561

Just to update. Assurant Solutions have told me that the payment was a single premium thing and it was for £2580 its been running for 5 years.

My calculations suggest that 8% is around £200 so does that mean we will get around £1000 interest added on top?

I would still like an answer to post number 9 if possible please.

Thanks again all.
Darren

magpiecottage

dazza6561 wrote: »

Just to update. Assurant Solutions have told me that the payment was a single premium thing and it was for £2580 its been running for 5 years.

My calculations suggest that 8% is around £200 so does that mean we will get around £1000 interest added on top?

I would still like an answer to post number 9 if possible please.

Thanks again all.
Darren

It depends how they deal with it. In theory they should reconstruct the loan to how it would have been if you had not taken out the cover or, if they conclude it would have been taken as a monthly premium if sold properly, they can subtract that cost. The actual interest involved would usually be based on the actual mortgage interest.