PPI Reclaiming Discussion Part 5

Sunday_Morning

What would be the issue with accepting both refunds and then purchasing a new insurance?

societys_child

Sunday_Morning wrote: »

What would be the issue with accepting both refunds and then purchasing a new insurance?

You would effectively have had free insurance cover for however the policy has been in force. Do you really think they would be happy to provide you with another policy?

new2u

I have no idea what the best thing to do is to be honest I'm not very clued up on it all. There's only 6 years left of our mortgage but if my husband got ill we would struggle to pay it. So would it be best to carry on the one we have or take a new one for the final 6 years? and how long do I have to make the decision?

[Deleted User]

new2u wrote: »

So would it be best to carry on the one we have or take a new one for the final 6 years?

That decision is up to you and you alone.

If you want to withdraw your complaint, you can do it anytime up until the Bank cancel the insurance. However, they've already said they deem the policy sold to you was not suitable.

Of course, you are free to purchase a mortgage PPI policy from another provider (which perhaps more suits your needs) for the remaining six years of your mortgage.

Ladyinwaiting

Dear all

Would anyone happen to know what a Bank of Scotland HSure policy was for? Sold in 1997

Thanks

[Deleted User]

Ladyinwaiting wrote: »

Would anyone happen to know what a Bank of Scotland HSure policy was for? Sold in 1997

21 years later it's unlikely to matter what kind of insurance this was, since there is unlikely to be any record of this policy.

Benny_Dorm

Do you think Olevin could also be a potential way forwards? I’ve not done a Plevin claim before :beer:

Nasqueron

Benny_Dorm wrote: »

Do you think Olevin could also be a potential way forwards? I’ve not done a Plevin claim before :beer:

A Plevin complaint is automatically looked at after a complaint about PPI is rejected

Sunday_Morning

societys_child wrote: »

You would effectively have had free insurance cover for however the policy has been in force. Do you really think they would be happy to provide you with another policy?

I'm sure a company to which someone is willing to move their mortgage to would be happy enough to provide another policy

ijp

I've sent off around 20 PPI claims using MSE online forms, and the majority of the providers have said I have to give them the original account number, proof in writing, original contracts or paperwork. All my claims relate to accounts, credit cards & mortgages all closed before 2008, so they say they no longer have my details, and I've not kept old paperwork, also details are no longer on my credit report as more than 7 years ago. My original thought was to just let it go, but it feels like the banks are hiding behind this excuse, they must have archive systems, but don't know what to do now - any suggestions?