Mortgage PPi

TJI999

My wife has been paying PPI on her mortgage since late 2002. She had no knowledge of this until I asked her several weeks ago. She is adamant that this was not discussed with her at the time. The mortgage is with Northern Rock. Does the 2002 commencement of the mortgage mean that she has no chance of reclaiming any of this money (around £22/month for duration of mortgage).
Would appreciate anyone's views/experiences on this matter.
Thanks!

_Andy_

Does she never check her bank statements?

dunstonh

My wife has been paying PPI on her mortgage since late 2002. She had no knowledge of this until I asked her several weeks ago.

That is a bit embarrassing for her. 120 statements of it appearing on there and she never knew.

She is adamant that this was not discussed with her at the time.

It almost certainly would have been a paper application back then. So, they would have an application form.

It's a weak complaint that is damaged by how long time has been. The complaints handler will almost certainly view it as a try-it-on complaint given the nature of it. Doesnt mean it wont succeed as its NR and that gives it some uncertainty. Of course, that assumes it was sold by NR. If it was a broker then its 3 years prior to regulation and they can disregard any complaint.

magpiecottage

It is also worth noting that, in the absence of any other evidence, the policy appears to be suitable.

sheilavw

We got our mortgage with Nat West end of 1988 and was told we had to have mortgage protection insurance. In early 1999 we borrowed for new windows/doors and again was told we had to get a new policy to cover the extra. We were both in jobs that paid sick pay if we were off sick up to 12 months. Have we any chance of reclaiming or is it too late? (havent really took much notice of ppi stuff till recently as this was only thing we had and for some reason I didnt think of it like that)

dunstonh

We got our mortgage with Nat West end of 1988 and was told we had to have mortgage protection insurance.

Was that life assurance or ASU? (MPPI didnt exist back then and most lenders still required life assurance on mortgages)

Have we any chance of reclaiming or is it too late?

First thing to do is identify the type of insurance you have. Then look at what was done wrong. At the moment, there is a strong probability it was life assurance and not MPPI given the dates involved. Even if it is MPPI, you need to have a wrong doing and there isnt any indication of wrong doing in your post, or at least something you are likely to be able to prove.

Loan and credit card PPI complaints are much easier to succeed on than MPPI. MPPI doesnt have the same failings in a number of areas. So, you are less likely to get lucky than with the other two.

sheilavw

Thanks for the reply. It was mortgage repayment protector insurance. I have the policy schedule. We were told we had to have this to cover our payments if sick, but we were both in jobs that paid full pay if off sick for up to 12 months. When we borrowed 5k in 1999 for windows/doors again told we had to have this and we got issued another policy with another monthly payment. Thanks for your help again.

dunstonh

sheilavw wrote: »

Thanks for the reply. It was mortgage repayment protector insurance. I have the policy schedule. We were told we had to have this to cover our payments if sick, but we were both in jobs that paid full pay if off sick for up to 12 months. When we borrowed 5k in 1999 for windows/doors again told we had to have this and we got issued another policy with another monthly payment. Thanks for your help again.

That would most likely make it an ASU policy then.

If you can prove your allegation then you have a strong case. If you cant then you can bet your life they will reject your complaint. (verbal allegations without proof or without another failing usually end in rejection)

magpiecottage

sheilavw wrote: »

Thanks for the reply. It was mortgage repayment protector insurance. I have the policy schedule. We were told we had to have this to cover our payments if sick, but we were both in jobs that paid full pay if off sick for up to 12 months.

It was not uncommon for such policies to be a condition of the loan in 1988.

When we borrowed 5k in 1999 for windows/doors again told we had to have this and we got issued another policy with another monthly payment.

That could have still been the case in 1999 and by then was even more important because the three month wait for state help had increased to nine months.

Also, if it was a monthly premium the most common uphold reason is not available to you.

sheilavw

Thanks to you both. Will probably draft a letter and see what happens