Can I reclaim PPI for an Endowment Policy taken out in 1988?

bubblejenuk

Hi. I am looking for some advice. My father bought our family home in Belfast in 1988. He took out an Mortgage Endowment Policy at the time to purchase the house. The mortgage was arranged through a broker (who has since passed away and the company is no longer in business). The mortgage was with Abbey National (which then became Abbey and now Santander). Because it was an endowment policy, my father had to pay Guardian Financial Services a sum of money every month 'to build up the pot' in hope that it will cover the mortgage when it matures. My father also paid a small sum of money (around £15 per month) to Guardian of which he thinks is PPI because he was self-employed. Alot of this is based on memory as most of the paperwork has gone and my father speaks very broken english (he emmigrated to the UK in the early 1970s). In 2007, (19 years into a 25 yr mortgage) we closed the Guardian account with £21K in the pot which then went to pay most of the mortgage (the orig mortgage was £30K) which meant we owed the bank around £9k, which we paid off). With the lack of paperwork and the mortgage paid off, is it possible to check if were mis-sold PPI? Any advice will be greatly appreciated. Thanks.

dunstonh

My father also paid a small sum of money (around £15 per month) to Guardian of which he thinks is PPI because he was self-employed.

Unlikely as Guardian are a life assurance company and not a general insurance company. PPI is offered by general insurance companies.

is it possible to check if were mis-sold PPI?

Dont even waste your time. Regulation for PPI didnt start until 2005. Even if it was mis-sold (which is unlikely based on what you say as its monthly (how it should be) and you have given no complaint reason), it is 17 years before regulation started. There is no-one to complain to as the firm no longer exists. Even if they did, they could reject it as being out of time.