I was required to take out mortgage insurance with my repayments from day 1 of the mortgage. This was set at around £13 per month. This seems to be your classic PPI.
Not necessarily. Most people take out life assurance on mortgages. Far more than take out MPPI. It could be life assurance.
I was also talked in to taking out Accident and Sickness cover. I said at the time that I was fully employed, any sick leave would be paid and & I had the luxury of parents who could potentially support me or (at worst) take me back home if everything collapsed. They still persuaded me I needed A&S cover. This was paid separate to my mortgage payment at around £25 per month.
Now that sounds more like PPI. Although it could also be PHI based on the limited info we have here.
It is good to see it was set up correctly with a monthly standalone premium. That is how good PPI should be set up and one of the reasons why most MPPI complaints fail.
Is it potentially part of a PPI claim?
You don't appear to have given any valid reason for complaint.
I made an enquiry with PPI Reclaim and after several weeks they have emailed saying I had PPI with a bank I recognise as having an account with but not a loan, which they claim I did. There is a link in the email which it says I should click to complete the form. I'm on holiday at the moment so can't hover over the link, but is this a normal process to go through? I'm wary about following the link.
Sorry if this has been covered before - a little overwhelmed by the sheer amount of posts here!!
So I made a claim (with a third party) back in September 2016. The result of the claim was rejected, based on that MBNA apparently sent me a letter (dated July 2013) stating that the letter they sent me "explained that if they had any concerns about the sale of their PPI, they should contact us within the next three years.
As the complaint was not referred to MBNA within the three years we are rejecting the complaint. This is because the complaint was not referred to MBNA within the time limits set out by the industry regulator, the Financial Conduct Authority (FCA). You will find these time limits in the FCA handbook under Dispute Resolution rule 2.8.2."
Is this a common occurrence with people trying to claim? It did say that if I had exceptional circumstances then they may reconsider the decision. I tried speaking to the third party company a couple of times saying that I was all over the place at that time (split up with long term partner, started a new job working away all Summer etc) so I'm not even sure I read that letter?? They never got back to me so I just dropped it. I ended up getting a cheque based on the Plevin situation for £29, I never cashed it in as I thought it was a bit of an insult (and possibly admitting a payout?)
They tried ringing me this week and I've just spoken to them, it was regarding sending a new cheque out because I never cashed it.
My main point is however, are they allowed to give me a deadline of 3 years to make a complaint/claim?
Yes. You're time-barred for the complaint (though not necessarily for a claim).
You've also of course time-barred yourself, since you're out of time to go to FOS.
If you want the money, cash the cheque, If you don't, just shred it.
Thanks for your quick response, and yes I realise I should've gone to the FOS straight away - time just went by and I forgot about it - story of my life.
Can I make a new claim now and attempt it again, and then potentially go through FOS if and when they reject it, or would I be wasting my time?
hello people, this is my first post.
i have used a company to try and recover PPI as i discovered from paperwork i dug out that a failing endownment policy i had was never going to pay off my mortgage borrowing,
I was staggered that when I looked into the policy a unbelievable amount was paying for payment protection that I had no clue.
After promisimg feedback from the recovery company, i was told that unfortunately the onsbudsmans department had decided against my case.
I am obviously dissapointed, yet confused.
My morgage was taken out with Abbey National..now Santander
And the endownment was taken out with Norwich Union...both in 1999
does anyone have any information that could put my mind at rest
Replies
Not necessarily. Most people take out life assurance on mortgages. Far more than take out MPPI. It could be life assurance.
Now that sounds more like PPI. Although it could also be PHI based on the limited info we have here.
It is good to see it was set up correctly with a monthly standalone premium. That is how good PPI should be set up and one of the reasons why most MPPI complaints fail.
You don't appear to have given any valid reason for complaint.
If you believe you have a complaint to make, make it directly to the lender.
Sorry if this has been covered before - a little overwhelmed by the sheer amount of posts here!!
So I made a claim (with a third party) back in September 2016. The result of the claim was rejected, based on that MBNA apparently sent me a letter (dated July 2013) stating that the letter they sent me "explained that if they had any concerns about the sale of their PPI, they should contact us within the next three years.
As the complaint was not referred to MBNA within the three years we are rejecting the complaint. This is because the complaint was not referred to MBNA within the time limits set out by the industry regulator, the Financial Conduct Authority (FCA). You will find these time limits in the FCA handbook under Dispute Resolution rule 2.8.2."
Is this a common occurrence with people trying to claim? It did say that if I had exceptional circumstances then they may reconsider the decision. I tried speaking to the third party company a couple of times saying that I was all over the place at that time (split up with long term partner, started a new job working away all Summer etc) so I'm not even sure I read that letter?? They never got back to me so I just dropped it. I ended up getting a cheque based on the Plevin situation for £29, I never cashed it in as I thought it was a bit of an insult (and possibly admitting a payout?)
They tried ringing me this week and I've just spoken to them, it was regarding sending a new cheque out because I never cashed it.
My main point is however, are they allowed to give me a deadline of 3 years to make a complaint/claim?
Thank you for reading!
Chris
You've also of course time-barred yourself, since you're out of time to go to FOS.
If you want the money, cash the cheque, If you don't, just shred it.
Thanks for your quick response, and yes I realise I should've gone to the FOS straight away - time just went by and I forgot about it - story of my life.
Can I make a new claim now and attempt it again, and then potentially go through FOS if and when they reject it, or would I be wasting my time?
i have used a company to try and recover PPI as i discovered from paperwork i dug out that a failing endownment policy i had was never going to pay off my mortgage borrowing,
I was staggered that when I looked into the policy a unbelievable amount was paying for payment protection that I had no clue.
After promisimg feedback from the recovery company, i was told that unfortunately the onsbudsmans department had decided against my case.
I am obviously dissapointed, yet confused.
My morgage was taken out with Abbey National..now Santander
And the endownment was taken out with Norwich Union...both in 1999
does anyone have any information that could put my mind at rest
Regards Graham
It probably wasn't mis sold (not much MPPI was), so put it out of your mind and move on.