reclaim mortgage ppi

nezzbin

Hello money saving friends,
I'm a new member of this website forum but, have been reading atricles, and using the website for many years. Now the time has come for me to ask for some advice. I hope some of you can help!
9 years ago i bought my first house, and took out a mortgage with the Abbey National. One of the terms of agreement was, MPPI was compulsary, however it didn't have to be taken out with them.
At the time, I was using a Reeds Rains estate agents financial adviser to help me through the process of buying my first house, and was recommended to buy the MPPI through Payment Shield (part of the Royal Sun Alliance group).
I explained I didn't want MPPI, as this was a further expense I didn't really want. You know how tight money is buying your first place! In short, there was nothing I could do about it. It was a case of buying the MPPI or have no mortgage.
My point is, I was forced to buy MPPI which I didn't want (or need). Do I have a valid claim? If so, whom is my claim against? Abbey National (now Santander), or Payment Shield?
Looking forward to any help or replies!

Many thanks

magpiecottage

nezzbin wrote: »

I was forced to buy MPPI which I didn't want (or need).

If it was a condition of the mortgage then you did need it.

If it wasn't then you still had a need for it - how would you have coped if you had lost your income?

Do I have a valid claim?

No

If so, whom is my claim against?

A complaint would be against Reeds Rains who sold the policy. However, as they have never been directly regulated by the FSA, FOS will not have jurisdiction.

nezzbin

Many thanks for your quick reply Magpiecottage! That makes things much clearer. I did think it was a little dubious although there's no harm in trying