Mis sold mortgage protection

Theresaw

New to this, but any help would be much appreciated. in 1997 we applied for a mortgage with the Newcastle Building society, we were told that as my husband was self employed we would need to take out a protect direct mortgage protection plan, even though at the time I was Retail Manager with a leading chain and had full sickness benefits, the policy is with General Accident, which has since taken over by Norwich union I think. I still have all my letters and have always felt that this was mis-sold and forced on us, I have contacted them several times in the past to ask exactly why we needed this and have always been referred back to the protect direct policy document, which I still have and pay into, I have always felt reluctant to cancel this policy as we are both now self employed. We have paid in more than £5000 to date and I feel it would be useless anyway, it wouldn't cover our mortgage payments. I have never claimed even though I had 4 months off work following an op, as I was covered by my employer for that.
Could I reclaim this as we were forced into it? I don't know were to start with my quest for help.

ppc1

Im bumping this up for you! Dunston or Magpiecottage will probabally respond to this.

magpiecottage

A complaint about a sale in 1997 will be difficult.

Firstly, was it actually sold by the lender or a broker. If the latter, it is a non-starter.

Even if it is not then the possibility of losing your home as a result of losing your income suggests it was suitable.

It also seems that it was a monthly premium - which rules out one of the main reasons for a uphold.

Theresaw

Thank you I will review all my old paper work again, I feel certain the policy is referred to in letters from the Newcastle that imply it was a condition of mortgage offer. I also received a letter from Aviva in 2010 regarding this policy which states "Over the past few months PPI providers across the industry have been working with the FSA regarding how clearly MPPI policy terms and cond are expressed. As a result of the engagement the FSA and MPPI industry have agreed measures to provide Clarification to customers surrounding their policies."
One paragraph that stands out on initial reading states "You may cancel the policy immediately by contacting us. If you do so You will be entitled to a refund of the Premium paid subject to a deduction for the time for which you have been covered. this will be calculated on a pro-rata basis for the period for which you received cover."
Not sure what any of this means in plain speak, call me thick but...
I will go back to my original letters tho...Thank you

dunstonh

I feel certain the policy is referred to in letters from the Newcastle that imply it was a condition of mortgage offer.

Which lenders are allowed to do and if that is the case, you cant use that as a complaint reason.

One paragraph that stands out on initial reading states "You may cancel the policy immediately by contacting us. If you do so You will be entitled to a refund of the Premium paid subject to a deduction for the time for which you have been covered. this will be calculated on a pro-rata basis for the period for which you received cover."
Not sure what any of this means in plain speak, call me thick but...

It means if you cancel mid month then you will get a pro-rata refund for the the month.

Most MPPI does cover self employed. Does yours?