Mortgage PPI Help

Benten_2

Anyone able to help with some advice. This is my first time on a forum so please bear with me.

My request is regarding Mortgage Payment Protection Insurance. When I took out a five year fixed rate mortgage with the Nationwide five years ago, I was provided with free MPPI for the first three months.

We were not advised at the time that our account would be instantly debited with the MPPI amount after the first three months and indeed how much this would be. However, we paid it, better to be safe than sorry!

This increased in the second year from £29.34 per month to £39.18. It was only in 2011 that we cancelled the insurance. I had contacted Nationwide in 2010 but was told that I would need to have other MPPI in place as it was a condition of the mortgage. When I finally cancelled, I quizzed the Nationwide employee and was told that I did not have such a condition on my mortgage and hence it was my decision to make, although warned me that it would be sensible to have some cover in place.

In total we paid £1,566.30 over the term of our Mortgage for the MPPI.

The advice I am after is, were we mis-sold the MPPI on the basis that it was included as a 'free-be' at the start of our mortgage and then automatically debited from our account at the same time as our mortgage payments.

Nationwide did very well out of us!!

Thanks in advance for your collective advice.

dunstonh

We were not advised at the time that our account would be instantly debited with the MPPI amount after the first three months and indeed how much this would be. However, we paid it, better to be safe than sorry!

First part of your sentence would be believable if you complained with a couple of months of the first debit. However, not over 60 months on. Second part of your complaint indicates no mis-sale in that respect as you have indicated you kept the insurance for the same reason everyone takes out insurance.

The advice I am after is, were we mis-sold the MPPI on the basis that it was included as a 'free-be' at the start of our mortgage and then automatically debited from our account at the same time as our mortgage payments.

No. That is a perfectly acceptable sales method. And 60 months after the event makes any complaint now appear opportunistic and lacks credibility. Especially as it all hinges on an unprovable verbal allegation.