National and Provincial PPI Claim from 1988

Finishrich

magpiecottage wrote: »

I also fail to see what PPI premiums would be doing on your mortgage statement. They would be paid from your current account.

So I suspect what you have seen is something completely different.

I too had an interest only mortgage with National & Provincial back in 1993 which then switched to Abbey. Detailed on the annual mortgage statements is PAS (Personal Accident & Sickness) premium it was always included within the total monthly payment made to the building society. (It was never a separate payment). From May 1994 PAS changed to PP + (payment protection plus) premium. I cancelled it in 1997 when I discovered in some small print that it would only pay out for a maximum of 2 years.

magpiecottage

Finishrich wrote: »

I too had an interest only mortgage with National & Provincial back in 1993 which then switched to Abbey. Detailed on the annual mortgage statements is PAS (Personal Accident & Sickness) premium it was always included within the total monthly payment made to the building society. (It was never a separate payment). From May 1994 PAS changed to PP + (payment protection plus) premium.

That would roughly coincide with the takeover of N&P buy Abbey National, then.

I cancelled it in 1997 when I discovered in some small print that it would only pay out for a maximum of 2 years.

That is actually quite a long payout for a policy of that nature. It is really designed to provide a breathing space. Permanent Health Insurance will pay out for as long as you are too ill to work or until the policy term ends, which can be decades. It is far more comprehensive cover but it is costed, and underwritten, accordingly.

hollowsone

I also made PPI payments made to National and Provincial from 1987. This company became Abbey National, then Abbey, then Santander UK. The payments continued until 2002. The payments are shown on the end of year statements - I have all the paperwork. Can I claim without going through one of the claims companies - or is it easier to pay their percentage - if so, which company is the cheapest/best? Thanks, Malc.

-taff

You cannot 'claim the money back'. What you do is make a complaint. The complaint is that the product was missold in some way.

If you have account numbers, and you have proof, and you weren't sold it prior to regulation, then complain.

Make sure it is PPI though, not another type of insurance, otherwise you're going to look silly complaining about PPI when it isn't PPI.

dunstonh

hollowsone wrote: »

I also made PPI payments made to National and Provincial from 1987. This company became Abbey National, then Abbey, then Santander UK. The payments continued until 2002. The payments are shown on the end of year statements - I have all the paperwork. Can I claim without going through one of the claims companies - or is it easier to pay their percentage - if so, which company is the cheapest/best? Thanks, Malc.

For a debt that long, it would indicate you are talking about a mortgage.

WIth most MPPI complaints being rejected, what would be your complaint reasons? You can complain without using a claims company and you shouldnt use a claims company but whether you do or not, you need reasons for complaint. Something you havent given in your post.

magpiecottage

hollowsone wrote: »

I also made PPI payments made to National and Provincial from 1987.

You will have considerable difficulties.

In 1987, it was known as ASU - Accident Sickness and Unemployment Cover.

You will need to show that you had cover at all,

Then you must show that it was not compulsory (I worked in mortgages in those days and recall that they did make it compulsory for some deals).

Next you must show that it was unsuitable for you (I do not recall there being single premium cover in those days, so that reason is gone and cover for mortgages is generally considered worthwhile).

Then you need to show who sold it because that is who you claim against. If it was not an insurance company or N&P themselves FOS will have no jurisdiction because it predates the regulation of ANY form of financial services let alone general insurance.

Shsp201

I too had PP through an N & P mortgage from 1992 to 1995 which I too believe was misold. We even claimed on the policy for 1 year as my husband lost his job, however under the policy we still had to pay for the endownment ourselves out of unemployment benefit. Also at that time we would have had our mortgage paid by the DSS payments in any event as we did when the policy ran out for the second year of unemployment. The company were always late sending the payments and it was a costly hassle which didn't benefit us, as like I say we were already covered under DSS rules (and when they paid the second year payments were on time).

dunstonh

I too had PP through an N & P mortgage from 1992 to 1995 which I too believe was misold. We even claimed on the policy for 1 year as my husband lost his job, however under the policy we still had to pay for the endownment ourselves out of unemployment benefit.

You could have paid a bit more to cover the endowment.

Also at that time we would have had our mortgage paid by the DSS payments in any event as we did when the policy ran out for the second year of unemployment.

You had to wait 9 months to get mortgage support in 1995.

Most MPPI complaints are rejected and as you have claimed on the policy you were quite clearly eligible and sounds like you had a financial need for it. So, its difficult to see what is wrong.

roonaldo

Shsp201 wrote: »

. We even claimed on the policy for 1 year as my husband lost his job

So it was fit for purpose then.

however under the policy we still had to pay for the endownment ourselves out of unemployment benefit.

The PPI pays the mortgage not the endowment which is seperate, you should have obtained increased cover. Also PPI is to cover you so you dont lose your house, you wont get reposessed for not paying into the endowment. Also you have known of this issue for 19 years so this point could just get time barred.

Also at that time we would have had our mortgage paid by the DSS payments in any event as we did when the policy ran out for the second year of unemployment.

Which only pays the interest anyway and you would have to wait 9 months for.

The company were always late sending the payments and it was a costly hassle which didn't benefit us

That isnt mis-selling, just poor service. Were you late sending the forms back or fail to fill them in correctly?

This doesnt sound mis-sold in the slightest. You also benefitted from the policy. I would expect your complaint to be time barred too.

magpiecottage

I agree. The policy seems to have been suitable.

The service may have been poor but it is most unreasonable to wait from 1995 to 2014 to complain about it.