Mis sold PPI on mortgage

dunstonh

They confirmed it was my 2nd property and when the mortgage was cleared I had made an over payment.

I wonder if this is a business loan secured against property or a secured loan rather than a mortgage?

MPPI just keeps going until you stop it. Secured loan PPI would be factored into the loan.

pippy100

dunstonh wrote: »

What evidence do you have to support that allegation? - its an easy allegation to make but not one that is easy to prove.



So, when it was deducted from your current account statement each month, why did you not complain then?

Is this a mortgage or a loan? You say mortgage but the issue doesnt sit right with how they do their mortgages and how they set up MPPI. You can complain of course but something doesnt add up here.

In the OP's defence, i have just discovered my parents had ppi on their Mortgage. Their mortgage was through either LLoyds or C&G, i say either as the letter came through on Lloyds headed paper but made reference to C&G.
The PPI was not made by seperate payments so they did not realise they had it.
Not sure if C&G do things differently to Lloyds!?!
So i assume they are not always Stand Alone products?

dunstonh

So i assume they are not always Stand Alone products?

It is standalone but some, particularly older mortgages, did allow for the payment to come off a non-interest charging sub account on the mortgage. So, it was still monthly payment and not interest charged and would have appeared on the mortgage statement.

C&G would have done things differently to Lloyds or TSB depending on the point they were in the merger of the book. So, it is difficult to apply one rule to the other. There may have been some rebranding going on as well. e.g. a Lloyds mortgage set up under Lloyds but using the C&G brand. Lloyds are prone to that with their sub brands.

Rubyred2005

Thank you pippy100!! It's horrible that some people just seem to think I'm on the 'claim ppi bandwagon' when you honestly hand on heart didn't know you had it, it should paid back. My mortgage was via C&G but this letter I have received has come from Lloyds. it is all very confusing because the truth is I have no idea what they have sold me and what I have paid for!?

dunstonh

It's horrible that some people just seem to think I'm on the 'claim ppi bandwagon' when you honestly hand on heart didn't know you had it,

The problem is that many people are. One bank has reported that half the complaints it is getting now are try-it-ons. Most are reporting around 1/3rd are obvious try-it-ons.

This isnt saying yours is but you need to consider how yours looks. The complaints handler at the firm will be influenced by what is said and as your complaint lacks any evidence to support your allegation, you are already in a very weak position. They wont just accept your word for it. Otherwise everyone could take out an insurance policy of any type and if they dont claim on it then years later say it was mis-sold when it wasnt. There needs to be some evidence or failing.

What we are doing here is pointing out your issues.
1 - MPPI has far fewer upheld complaints than other types of PPI as it is generally the one PPI that is worth having
2 - MPPI on monthly premium is set up correctly. Single premium is bad. Banks only did monthly.
3 - Evidence is lacking to support your allegation.
4 - at this stage, you dont even know what you had. So, making a complaint is going to be difficult until you know what it is your are complaining about.

I suggest you find out what you had first. You can still complain later as there is no time limit. Then make your complaint understanding the issues. You may get lucky (as a unprovable verbal allegation will need luck) as some banks auto pay out on small value complaints without even looking into them or there may actually be a failing that you are not aware of that requires the bank to refund even if it is not a reason you used in your complaint (FSA guidelines require firms to review all parts of the sale and not just the bit you are complaining about).

oasis1979

similar problem as OP

I went onto Halifax branch to ask for details of my credit cards and loans

The guy at customer service desk swept my card and told me that I had PPI on my Mortgage

I know I never asked or wanted this. My wife works in insurance and is very strict with these things - there is no way we would have got this

We payed for our mortgage with one single payment each month - there was no additional payments for insurance

Quite confusing to be honest

spangles1967

mppi

I would like to thank everyone who has posted their experiences and advice on this site.

I called a claims company to do it for me and they said they would send forms out.The same afternoon I came accross this site and after reading the posts it gave me inspiration to do it myself.I downloaded the forms from MSE site,filled them in and sent them recorded delivery along with copies of original paperwork.

After a long 9 weeks wait,I telephoned today for an update and was told my claim was being upheld from 1999-2008 and my acceptance letter was on the way.Well,I am now going to be £1500.00 richer!!!! Woo hoo!!!!

AND ITS ALL MINE!!:beer:

Many thanks again and I wish everyone well with their claims:A

ssilvo

This thread is interesting ,i had an early virgin one account ,where it was a variable mortgage you could pay off as you wish by having your wages paid directly into your overdraft (secured) ,it was like a loan secured against my property which you controlled and was underwritten by RBS
does anyone know if ,as it was a "secured loan" it would of automatically had a PPI component .the statements i have merely mention the interest charged per month and in the micro print state if i want a breakdown of costs within the interest i can write to them .Sadly that was in the mid 90s

Anybody know how i could find out or point me to anywhere that has already covered these accounts?

many thanks in advance

dunstonh

oes anyone know if ,as it was a "secured loan" it would of automatically had a PPI component .

No. It would not automatically have that.

the statements i have merely mention the interest charged per month and in the micro print state if i want a breakdown of costs within the interest i can write to them .

Just what you would expect with the vast majority of mortgages.

Rubyred2005

Just to bring you up to date, I have spoken to Lloyds to request a copy of the policy documents and evidence of how I paid for the ppi. They said that they would speak to sterling insurance who apparently supplied the insurance and get them to send out the documents to me. In the meantime, they have sent me a letter confirming that they are looking into it and will have a reply in 8 weeks. I havent had to fill in any paperwork? Which I find interesting considering they told me that they would send out a form for me to complete before they could process? So let's see what happens in 8 weeks!!! They have also sent another letter to confirm they will refund the overpayment plus interest and I will have receipt of that in 12 weeks. Let's hope I get a nice surprise!!