Mortgage ppi

munkifut

Hi,

Back in May 2000 I took out a mortgage and was told by the advisor that I had to have a MPPI even though I had a steady job and good credit history. I have been paying this ever since.
The insurance was and still is with Firstassist Insurance Services.
I was on the understanding that you could only claim back on loan PPI's, but when I received my updated policy document continuing to advise that it is still necessary to have I began to question it's necessity. I have never been out of work and continue to have a steady job.
Can anyone advise please?

dunstonh

Back in May 2000 I took out a mortgage and was told by the advisor that I had to have a MPPI even though I had a steady job and good credit history. I have been paying this ever since.

Credit history has nothing to do with PPI. Everyone has a steady job until they are ill or are made redundant. So, nothing appears to be wrong with the recommendation there.

I was on the understanding that you could only claim back on loan PPI's, but when I received my updated policy document continuing to advise that it is still necessary to have I began to question it's necessity. I have never been out of work and continue to have a steady job.
Can anyone advise please?

You havent given any reason for complaint. There is nothing wrong with having PPI and MPPI in particular is generally regarded as the only PPI that is worth having. You cant just reclaim the money back. You are putting in a complaint about how it was sold. So, what was done wrong?

The other issue you have is that most advisers/brokers didnt become regulated for insurance until 2005. So, there is a high probability that they dont have to consider a complaint from you.