Abbey/Santander mortgage ppi

madjack45

I have a quick question about what I believe was a PPI deal on a mortgage I got about 10 years ago.

During the application I was told it would have a policy on it that would protect me against ill health and lack of income, which sounded good at the time. I cannot recall if I was given the option to opt out, and I am pretty sure I probably don't havethe paperwork anymore.

My question is, is this sufficient grounds to make a claim, as I haven't yet found a concrete statement saying payment insurance on xyz mortgage deal, falls in scope of mis-sold PPI

Thanks

magpiecottage

It sounds unlikely that you have valid ground for complaint. The Mortgage Code Compliance Board not only encouraged the sale of PPI for a mortgage but actually advocated advisers getting a disclaimer from borrowers who refused it.

This is because your home would be at risk if you could not maintain payments through illness or redundancy.

madjack45

Thanks for your reply. It was kind of how I suspected, as the deal itself sounds ok, and necessary for a mortgage, but excessive on a smaller money loan perhaps (hence the news coverage).

I budgeted in and having paying the insurance for 10 years, and has never been a problem, but was a bit concerned with the recent coverage, what if I had been sold something that they would Welch on if I ever needed it, because of some caveat or get out clause I was never told about.

Regards