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Halifax customer since 1985
blackrig
Posts: 6 Forumite
Hi there.Can anyone advise?I have had my mortgages since 1985 through Halifax.Can I look at reclaiming PPI from the very beginning for each mortgage change (5 in all) as I have always presumed to get mortgage we have had to take their protection?New to this so hope I'm on correct page!!
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MPPI is almost always required, why do you think you were mis-sold this?0
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Can I look at reclaiming PPI from the very beginning for each mortgage change (5 in all) as I have always presumed to get mortgage we have had to take their protection?
Your presumption does not make them mis-sold. Also, for some of that period, it quite possibly was mandatory as often deals required a purchase of insurance to get the deal.
You may have missed the boat on this one. Halifax were auto paying out on their backlog but seem to be investigating complaints now. So, you would need a good reason for complaint. An unprovable verbal allegation is not a good reason. You may get lucky. You shouldnt but at the moment, it is possible.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
My thought was although mandatory to have insurance we should have been given chance of shopping around for a cheaper insurance option. Thinking back now, did the banks not work with certain firms and get good commission for doing so? It's only in the last few years that we realised we didn't have to take out the banks insurance to cover payments,that we could get it much cheaper elsewhere.We just did as we were told back then.0
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My thought was although mandatory to have insurance we should have been given chance of shopping around for a cheaper insurance option.
Nope. Tied providers have no requirement to tell you that you can shop around. Their remit under FSA authorisations is to retail their own product range. All they need to do is tell you that they are not whole of market (since 2005, a document was required to be issued to confirm it but prior to that it was just verbal).Thinking back now, did the banks not work with certain firms and get good commission for doing so?
Most have been that way since polarisation in 1988 and still remain so.
None of this is grounds for complaint though.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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