Do I Claim - Wife say Yes - I think No - HELP

FreebirdUK

I wonder if anyone can give me advice about PPI claims, I don’t think we have a claim so I haven’t bothered but my wife and family believe we do, I need some advice from someone with knowledge of these things as my head hurts.

We took out a mortgage with GE Money in 2003 and this included PPI insurance which we didn’t request, we were told verbally that it was compulsory. Also at that time I was self employed so it wouldn’t have covered me anyway which I didnt realise.
What makes me think we don’t have a claim is that in 2006 I was actually employed and suffered an accident at work, after a little wrangling they eventually paid the mortgage for 6 months while I was off work.
So I believe we were mis-sold the insurance at the time of taking out the mortgage, but 3 years later when i was employed we claimed on it. To me that means we have no claim. Please can someone clarify so that I am no longer browbeaten.
Thanks
Phil

dunstonh

we were told verbally that it was compulsory.

Who said it was compulsory? a broker or GE?

Also at that time I was self employed so it wouldn’t have covered me anyway which I didnt realise.

Who says it wouldnt cover self employed? Most MPPI does cover the self employed.

The date is important and whom you bought it through. It is a pre 2005 case and that may have consequences.

FreebirdUK

Thanks very much for your reply and I apologise for being so vague. The mortgage was arranged by a broker (Council HomeBuyers).
I havent found the documentation yet, however I seem to remember that some years ao we realised I wouldnt be covered (maybe it was unemployment and not sickness). Up to now I havent put much effort into this as to be honest it felt morally wrong to claim when later it payed out even though we suspected it was mis-sold.
I will go through the documents again to see if I can find the details of the insurance.
I had expected confirmation that we could not claim to put the matter to rest so to speak.
Thanks for your reply I will post again when I have the details.
Phil

dunstonh

The mortgage was arranged by a broker (Council HomeBuyers).

Most brokers were not regulated pre 2005. A small number were.

Also, unlike the banks which suffer with poor admin and auto paying out on small value complaints, brokers tend not to. The UK's largest adviser/broker compliance company had just 11 complaints at the FOS in the last 6 months of last year (and they dominate the market). This will be partly as pre 2005 complaints are not covered and that post 2005 documentation should be pretty strong.

magpiecottage

There are two firms called Council Homebuyers on the FSA website. One no longer exists.

However the successful claim does indicate the cover was probably suitable for you.

FreebirdUK

Thank you both very much for your advice, now I can relate the information to my family and not have to wrestle with my conscience.
I would just like to add that I have been recieving Martins emails for many years now and this is the first time I have had to ask for information.
Thanks for being there
Phil