We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mortgages plc

Options
sugarwalsh
sugarwalsh Posts: 1,734 Forumite
in Reclaim PPI & other insurance
Hi, we recently had a letter from one of the 'ppi reclaim companies' and it got me thinking.

I have no idea whether we had some form of ppi on our old mortgage (will check what the 'insurance' is on our current one tomorrow!) and when I ahve looked at some old paperwork I'm not sue.

I have lots of reading up to do on the whole process, but before I do, can anyone inform me as to whether there are any success stories with Mortgages plc?

Thanks in advance.
May GC - £100 per week
Week 1 - £120/£100 :eek:, Week 2 £110/100:o, Week 3 £110/£100:mad:, Week 4 £50/100Week 5

DFW - March '13 - c/c £5600, April £4500, May £2500 :T

Comments

  • dunstonh
    dunstonh Posts: 119,624 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I have no idea whether we had some form of ppi on our old mortgage (will check what the 'insurance' is on our current one tomorrow!) and when I ahve looked at some old paperwork I'm not sue.

    Most MPPI is paid via your current account on a monthly premium.

    I believe Mortgages PLC is a high risk lender that dealt with brokers. So, they wouldnt have any liability for any insurance product sold.
    I have lots of reading up to do on the whole process, but before I do, can anyone inform me as to whether there are any success stories with Mortgages plc?

    MPPI has a much lower success rate that other types of PPI. Plus, mortgage adviser arranged MPPI has even lower success rates (just 0.2% of PPI cases at the FOS for 2011/12 were advised cases).

    MPPI is generally regarded as the one PPI that is worth having. If you do have it then what would be your reasons for complaint?
    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.
  • roonaldo
    roonaldo Posts: 3,420 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I would imagine if it were a broker sale, they would have sold a single premium unless the lenders own insurance was sold which was probably monthly.

    I really doubt a complaint would get anywhere as I bet the broker isnt trading.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture