PPI miss sold or not

terryhs

With all the information regarding ppi claims I decided to have a. Look through some of out policy's

Mortgage RBS: we have been with rbs for 16 years we moved house in 2005 we set up a new mortgage when we took the mortgage out we were told we had to have payment protection to have the mortgage approved at no point at the meeting no questions were asked regarding out employers sickness cover, we were advised to take out the policy on the highest earner Looking back at the time my partner worked for a out off hours doctors has had been there for 8 years and paid 12 month sick pay and I was in a similar position my employer paid for 12 months and I had been working there for 10 years. In 2008 I went self employed at the end of August when I started I called the insurance company to see what we were covered for I would no longer be covered for employment, I asked if we could change the policy and have the employment cover removed to save some money I was told it had to stay the same as they could only amend the policy's when they were taken out which I now find I have been paying for something that could no longer be claimed for.

Does this sound like mis-selling, any advices

dunstonh

we were told we had to have payment protection to have the mortgage approved

If it wasnt required then that is a mis-sale. However, it is the weakest of all the mis-sale reasons because it is nearly always unprovable.

no questions were asked regarding out employers sickness cover,

advised cases should do but non-advised cases would not. Most MPPI pays out in addition to employer benefits (some PPI doesnt). So, it may not be an issue.

I asked if we could change the policy and have the employment cover removed to save some money I was told it had to stay the same as they could only amend the policy's

That is the correct response. You actually asked the wrong person. You could get cover with unemployment removed but the insurer is not the person to ask on this as they can only tell you what you can do with your current policy. Not what it is best to do as that is not within their remit.

Does this sound like mis-selling, any advices

The phone call you made to insurer was correct and relates to a post sale issue. So, no mis-sale there. Being told you have to have it is wrong (unless it is actually required but RBS havent needed it for years). However, you cant prove it. You may get some scope on the employer benefits if the insurer wouldnt have paid out.

Being a bank, you can never tell how they will respond. So, lay out your complaint as you have here and see what happens. Statistically you are less likely to succeed than loan or credit card PPI but you never know.

magpiecottage

terryhs wrote: »

in 2005 we set up a new mortgage when we took the mortgage out we were told we had to have payment protection to have the mortgage approved at no point at the meeting no questions were asked regarding out

The problem with that argument will be the mortgage "Key Facts" document and the offer.

They will either say you were required to have the policy, in which case what you were told was true and your complaint fails.

Or (more likely) it has a list of insurances that ARE required and PPI is not included. In which case the only evidence from the time about what you were told contradicts your assertion - so again your assertion fails.