Help! Confused over PPI claim

Milliecatsmum

Hello Im new here and really hoping someone can help me. I have a mortgage with Natwest, it started in 2008. I took it out through Countrywide/Bridgfords mortgage advisors as this was my first house purchase and it seemed easier than trying to do it all on my own. I had to use my dad as a guarantor on the mortgage but hes never paid anything to it. As part of the mortage the seller told me I had to have Life Insurance, a savings account and redundancy cover. I told him at the time that my employer (Im a civil servant) pays 6 months full pay then 6 months half pay then sick pay at pension rate if Im sick and compulsory redundancy pay is also quite good (2years salary I think if I remember rightly). Anyway I cant remember exactly what was said but I was given the impression that I had to take this insurance out to secure the mortgage. I am paying just under £30 a month to Countrywide insurance and have been doing for 4 years. Am I right that this is PPI? If so who do I write to-Countrywide (who Im paying the insurance to) or Natwest who the loan is with? Do I cancel the PPI now or wait for the claim to be assessed first? Im totally confused but want to do this myself rather than use a claims company (which feels easier at the moment but I dont want to pay them)
Thanks for any advice.

dunstonh

As part of the mortage the seller told me I had to have Life Insurance, a savings account and redundancy cover.

Seems logical. It would prevent your parents suffering a potential loss if you died or having to cover the mortgage if you couldnt.

I told him at the time that my employer (Im a civil servant) pays 6 months full pay then 6 months half pay then sick pay at pension rate if Im sick and compulsory redundancy pay is also quite good (2years salary I think if I remember rightly).

We can forget the pension as your parents wouldnt get that. We can forget the redundancy pay as that is not guaranteed. 6months full then half pay is a potential reason for complaint on an advised case.

I was given the impression that I had to take this insurance out to secure the mortgage.

You cant prove that and complaints on that basis usually fail unless there is another issue. Also, it is quite possible you did require it. Many mortgage brokerage services do require you to purchase the insurances via them to get the free mortgage advice. That is allowed.

I am paying just under £30 a month to Countrywide insurance

Is this just one policy? If so, then you should check what you have is what you think it is.

If so who do I write to-Countrywide (who Im paying the insurance to) or Natwest who the loan is with?

You complain to the person/firm that sold it to you.