Scared to venture into mortgage ppi reclaiming.

BEAT_THE_DEBT

Helo i am a bit dubious to write regarding old ppi payments with payment shiled i cancelled it years ago? Dont know if i should?

dunstonh

BEAT_THE_DEBT wrote: »

Helo i am a bit dubious to write regarding old ppi payments with payment shiled i cancelled it years ago? Dont know if i should?

Were you mis-sold?
was this before 2005?

BEAT_THE_DEBT

Hi dunstonh and thanks for picking up on my thread. I had this policy in 2001. I was and still am a nhs worker with 6 months full and 6months half pay. My mortgage is with Abbey now santander and the policy was payment shield. I was never asked how i woud afford payments if sick etc sick pay family savings etc. I was advised to have this by a broker linked to the estate agent. It was my own fault for being to green and not asking questions. I was a bit scared the mortgage would not go through without it (like i said green).
Thanks for your help. I paid it as a seperate monthly payment.

BEAT_THE_DEBT

hi any thought. Abbey tried to log ppi complaint re mortgage when was ringing for status of loan I dont want to claim as although it was mis sold at the time i need the policy now as my husbands job has changed he does not get full half year sick pay. If i had let her log complaint i take it that the policy would cease.
Thanks
btd.

magpiecottage

If it was with Paymentshield the mortgage adviser will almost certainly have been independent (even if they were tied to a particular life assurance company).

Looking at the case in more detail.

If the adviser has never fallen under direct jurisdiction of the Financial Ombudsman Service (FOS) it will not intervene. (It is no good that the adviser simply represented somebody else) and you would almost certainly lose in court.

The fact that you cancelled the policy years ago suggests you thought there was something wrong then - which opens up the possibility of a timebar.

The reality is, too, that PPI for a mortgage WAS advocated by no less an authority than the Mortgage Code Compliance Board.

So I think you are most unlikely to succeed.

BEAT_THE_DEBT

Thankyou for your swift response i appreciate your help. I have just been reading and a broker sold it to me pre 2005 so no complaint.
Regarding my exsiting Abbey one, knowing what i know now i am not happy with the way it was sold. They knew i was an nhs worker with 6months full 6 months half pay. But now i want the policy. I asked the advisor questions but she said they could only be looked at and answers when making a claim. I dont want to claim ppi refunds on anything i am not entitled to as thats how the system gets ruined and its dishonest. Does payment protection get paid out for husband loss of earnings if i am still working i take it only half Would my husband be able to have a policy in his name only if its a joint mortgage?
Thanks in advance i appreciate your input.
BTD

BEAT_THE_DEBT

would it be wrong to claim and then get a different policy to suit needs now?

BEAT_THE_DEBT

I could save the ppi refund and put in savings to cover mortgage if needed and add the monthly fee i pay now in creating a cushion?

BEAT_THE_DEBT

decisions. All i need to make sure is that we could pay mortgage if Husband or myself (i could nhs sick pay) could not work. We have critical illness on life mortgage policy.
Sorry if i am repeating myself but i value the excellent help i get form you all on here.

dunstonh

We have critical illness on life mortgage policy.

Many people do. It doesnt overlap with any work benefits and is usually put in place under and advice process rather than sales process. So, a factfind, needs analysis and report should exist on that one. Unless you have have sufficient savings to clear the mortgage and a bit more then that is easily justified.

BEAT_THE_DEBT

Thankyou dunstonh for your help on all my threads.x