Yorkshire BS Mortgage Payment Insurance

oh_suzi

I recently contacted The Yorkshire Building Society regarding a MPI product sold to us in 1997 when we took out our first mortgage.
They have written to us and told us that we don’t have a claim and that the product wasn’t miss-sold.
We believe it was. Both my husband and I are certain that we were told that we had to have the policy if we wanted the mortgage.
We were only with them for a little over two years and moved to another mortgage provider where we were given a choice of MPI and declined it.
We have never taken out PPI or MPI before or since, which is why we’re certain that it was forced on us.
They have said in their letter that their decision is final. Can we still pursue it?

-taff

You can send it to the FOS but your complaint is hearsay and won't get far unless you can identify another failing.

dunstonh

I recently contacted The Yorkshire Building Society regarding a MPI product sold to us in 1997 when we took out our first mortgage.

Not unexpected. Most people take insurance with their mortgages for obvious reasons.

Yorkshire were a lender that used to insist on it with certain mortgage deals (which is allowed).

They have written to us and told us that we don’t have a claim and that the product wasn’t miss-sold.

Most MPPI complaints are rejected. It has the lowest success rate of any type of PPI. It is generally regarded as the one PPI that can be worth having. Yorkshire set theirs up correctly with monthly premium. So, there isnt a failing in that respect. So, a rejection should not be a surprise.

Both my husband and I are certain that we were told that we had to have the policy if we wanted the mortgage.

Firstly you cant prove that. So, an easy rejection by them. However, even if they did insist on it in relation to a deal (which I mentioned they used to do) then they are allowed to do that. So, a complaint would be expected to fail with your reason.

They have said in their letter that their decision is final. Can we still pursue it?

You can refer it to the FOS and the FOS will ask for your evidence to support your allegation (I assume you have none). They will ask Yorkshire if they have any evidence to support your allegation. If it wasnt needed then you can bet they have nothing to support your allegation. If it was needed then your complaint fails as it was a requirement to get the mortgage and that is allowed.

magpiecottage

To have the complaint upheld, you would need to show first that the policy actually existed at all.

Then you would need to show that Yorkshire Building Society sold it.

Then you would need to show that Yorkshire Building Society missold it.

I doubt you could get past the first hurdle.

If you did then you might be able to prove who sold it.

However, since you will not be able to prove you were forced to have it, and the policy itself would have been suitable for you (unless you fancy the idea of living on the street).

So you really have no realistic prospect of getting your complaint upheld, so FOS may well exercise its right not to even consider it.

new_to_the_game

Hi, I have just sent all my evidence and complaint to the FOS and hope to be succesful as I have managed to keep all my mortgage info from taking it out in 1988 until moving in 1997 and for some reason kept everything. We did'nt even realise we had KPPI on it and the FOS advised us to put a claim in. And having duly complied and sent the request to YBS they wanted evidence to which again we replied and they seemed a little shocked we had it but as per they said see ya to which FOS are now in the process so fingers crossed.
CK

roonaldo

There is nothing wrong with having a PPI on your mortgage, its still recommended and good advice to cover your most important asset. This is a monthly policy so there is no issues there. You said you were told you had to have it, there will be no evidence of this and you cannot prove it. Even if you did this is a pre-regulation sale and it may well have been a condition of the mortgage and you chose to take it. There has to be some reason why you shouldn't have had the policy for FOS to uphold your complaint. You cannot base your entire complaint around a verbal conversation.

widget2

magpiecottage wrote: »

To have the complaint upheld, you would need to show first that the policy actually existed at all.

Then you would need to show that Yorkshire Building Society sold it.

Then you would need to show that Yorkshire Building Society missold it.

I doubt you could get past the first hurdle.

If you did then you might be able to prove who sold it.

However, since you will not be able to prove you were forced to have it, and the policy itself would have been suitable for you (unless you fancy the idea of living on the street).

So you really have no realistic prospect of getting your complaint upheld, so FOS may well exercise its right not to even consider it.

i was told that i had asked for mpi on my mortgage and that it stated so in my offer. it clearly states that i asked not to have mpi.