Mis sold MPI

suzyt3

Hi all, I have tried to claim mis sold mpi on the grounds that when hubby and I took out a mortgage to purchase a buy to let flat in 2002, we already held endowment and whole life insurance policies and private pension plans and both worked for our local government (19 &20 years respectively) paying into the occupational pension, which assured lump sums and pensions on early retirement or death. We owned our own home, valued at £345,000, had no debts and the flat we were buying was tenanted with a rental of £600 per month. In other words we were well set up to repay the mortgage even if either of us became ill or died. Nevertheless, the bank insisted we had to take out a mortgage protection insurance, which we reluctantly agreed to do as we did not want to lose the specific flat we wished to buy. Our claim has been rejected because we signed the agreement which included the requirement of an MPI. The bank says we were fully aware of the requirement of the policy. This is true, but we thought we had no choice and that they caused us to take out a policy which was not needed in our case, and we paid out money unnecessarily. Do you agree?

Tixy

Try posting on this section of the forum who should be able to advise you better

Reclaim PPI & Other Insurance