Did I ever have PPI???

omeyas

Like many others, I have been plagued by phone calls and texts from companies claiming they can get me a fortune, however to the best of my knowledge, I never paid it. My mortgage was paid off about 10 years ago, so hard to remember, so how can I check to see if I did in fact have PPI as they claim?
Thanks

dunstonh

My mortgage was paid off about 10 years ago, so hard to remember, so how can I check to see if I did in fact have PPI as they claim?

These cold calls and text messages do not have access to your personal data. They are spam/scam calls where they put in a fraudulent complaint in your name using a template letter making a number of allegations) in the hope you get lucky. The sales reps for these complaint generating companies are paid commissions on sign ups. So, they lie to get you to sign up.

Mortgage insurance has a very low rate of success on complaints as the vast majority of people take out insurance for good reason and unlike loan and credit card PPI, the audit trail for mortgage insurances is usually much better. For example, the FSCS only upheld 5% of complaints against mortgage advisers and the FOS stats for 2011/12 show that just 0.2% of the PPI complaints they deal with were advised cases. Plus, most MPPI is set up correctly as monthly premium from your bank account. If all were done like that, there would be no PPI issue. Most mortgage advisers also only became regulated for insurance in 2005 and dont have to consider pre 2005 cases sold that are complained about.

So, check your bank account from there era if you feel it is worth the effort. Remember there is nothing wrong with having PPI or any other insurance. It has to have been mis-sold or set up incorrectly.

And ignore these scam/spam calls/messages. I am an IFA and I get them every week telling me I was mis-sold. I cannot be mis-sold because of my role. yet they tell me I have been and that I have money waiting for me etc. It is all lies.

Pink1808

If you have any paper work it will show up on there, if not you could ask your bank and so on , but if this is older than 6 years not many banks don't have to keep your records, but some do so worth a try
Also you have to have a valid reason for being mis sold not just because you had it.

have a read on the site see if you think you have been mis sold then maybe do a SAR to the bank to see if they have any records still on file and take it from there.

omeyas

dunstonh wrote: »

These cold calls and text messages do not have access to your personal data. They are spam/scam calls where they put in a fraudulent complaint in your name using a template letter making a number of allegations) in the hope you get lucky. The sales reps for these complaint generating companies are paid commissions on sign ups. So, they lie to get you to sign up.

Mortgage insurance has a very low rate of success on complaints as the vast majority of people take out insurance for good reason and unlike loan and credit card PPI, the audit trail for mortgage insurances is usually much better. For example, the FSCS only upheld 5% of complaints against mortgage advisers and the FOS stats for 2011/12 show that just 0.2% of the PPI complaints they deal with were advised cases. Plus, most MPPI is set up correctly as monthly premium from your bank account. If all were done like that, there would be no PPI issue. Most mortgage advisers also only became regulated for insurance in 2005 and dont have to consider pre 2005 cases sold that are complained about.

So, check your bank account from there era if you feel it is worth the effort. Remember there is nothing wrong with having PPI or any other insurance. It has to have been mis-sold or set up incorrectly.

And ignore these scam/spam calls/messages. I am an IFA and I get them every week telling me I was mis-sold. I cannot be mis-sold because of my role. yet they tell me I have been and that I have money waiting for me etc. It is all lies.

Ok, thanks for that. Pretty much as I expected, I've never dropped lucky yet! I had already blocked the mobile number and ignored all the texts but just wanted to confirm my suspicions that I'm not due a cent!

Rolandtheroadie

I've always been 100% sure I've never had PPI in my life, I can remember many conversations explaining to my bank why I didnt want it.

After a workmate had sent away a letter (again, 100% positive he'd never had it) he got a pay out.

I done the same, had a few letters saying I'd never had it (and was content) then got a letter in today with a payout offer.

Result.