PPI FAQs discussion thread

day_james

I was advised by Abbey (Now Santander) when taking up a mortgage with them, that I should take out a PPI policy and they gave me a quote for their own policy [I have this documented on paper, I think in around 2006/2007].

I looked on the market for comparable policies and found that Cardiff Pinnacle could cover me for a more competitive price.

Having queried this was ok by phone with the Abbey (They said as long as I am covered this is ok) I took out the Cardiff Pinnacle Policy and held it for just over 3 years.

So it's not Cardiff Pinnacle's fault I took out a policy with them, but I didn't take out one from Abbey...?

Any thoughts?

[Deleted User]

day_james wrote: »

I looked on the market for comparable policies and found that Cardiff Pinnacle could cover me for a more competitive price.

So you looked for PPI that was cheaper and bought it?

You can hardly complain this was mis-sold to you I'm afraid!

Neither can you have any complaint about Abbey advising you that you should take payment protection, that is not just allowed with mortgages but positively encouraged.

Any "complaint" would fail..

debtfreesoonihope2015

Hi,

Has anyone ever claimed store card PPI?

[Deleted User]

debtfreesoonihope2015 wrote: »

Has anyone ever claimed store card PPI?

Plenty of people
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance

dunstonh

I was advised by Abbey (Now Santander) when taking up a mortgage with them, that I should take out a PPI policy and they gave me a quote for their own policy [I have this documented on paper, I think in around 2006/2007].

It is normally advisable with mortgages to have it. That is one of the reasons MPPI complaint success is so much lower.

I looked on the market for comparable policies and found that Cardiff Pinnacle could cover me for a more competitive price.

Not a surprise. Bank products are notorious for being more expensive. However, that is their choice.

So it's not Cardiff Pinnacle's fault I took out a policy with them, but I didn't take out one from Abbey...?

Any thoughts?

Nothing wrong in what you have typed. You have what you want. Nothing to complain about.

Charliegirl_4

Hi Moneyineptitude
Sorry what I meant is I am a newbie as in I have very few posts and not a regular visitor to the site.

OK no i would not alter any paperwork. I have had a mortgage with Halifax with Payment protection Insurance but on my original paperwork it is marked as insurance ( I thought this was house ) but last july I received a letter saying it was actually payment protection ) I have all my documentation other than this and Halifax have told me that I completed a marketing coupon they sent me and this is how I ended up with it.

So I wanted to know what this is for and compare it to the one they have recently sent me.

I hope this all makes sense.

[Deleted User]

Charliegirl wrote: »

Halifax have told me that I completed a marketing coupon they sent me and this is how I ended up with it.

Do you have reason to doubt the veracity of their records?

Charliegirl_4

Yes I do, On the original mortgage documents I have it listed as insurance, in July 2012 I received a letter from Halifax which was a standard letter stating update to your payment protection policy and I have also found a letter dated back in 2003 that says further to our telephone conversation I will call you regarding the benefits to PPI but Halifax insist this was a coupon sale.

I have no documentation re the policy summary and I keep all documents and lastly I would not have completed a coupon for a sale of payment protection, more likely I would have thrown that in the bin.

[Deleted User]

Charliegirl wrote: »

d I have also found a letter dated back in 2003 that says further to our telephone conversation I will call you regarding the benefits to PPI but Halifax insist this was a coupon sale.

Leaving aside your (minor) quibble about the manner in which the PPI may have been added, do realise that Mortgage PPI is the only PPI worth having. Do you have any reasons to complain that the PPI was not suitable for you? You cannot complain about not knowing about the insurance (even though you say you thought it was house insurance) because there will be extensive signed documentation of your demands and needs from the time.
It's not somehow wrong to have PPI (anymore than it's wrong to have house insurance). In order for it to be refunded you have to show it was mis-sold to you. Could you have afforded to pay your mortgage if you became ill or unemployed? Did you have any pre-existing condition that precluded you from ever claiming on the insurance? These are the kinds of things you should be looking at with a view to complaint-not whether you filled in some kind of coupon.

Neilndebz

A few years ago we bought a car for £3500.00 my wife took out Ppi as it was suggested that if she did not take ppi she would not get the loan, she was also told to say that she worked full time to make it easier, we got the car and paid monthly until three years were up, we paid the loan off in 2007 this was earlier than the loan should have finished, when the Ppi reclaim hit the news we decided to claim through a Ppi company, we were told that the company had gone bust however there was another avenue that could be tried, the government had a money pot for this kind of thing, recently we have been told that we cannot claim as the government did not start this pot until 2005 we bought the car late 2004