Halifax ppi settlement

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
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Clarabellax2Clarabellax2 Forumite
95 Posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
Hi

Halifax are going to make an offer on mis sold ppi I cannot remember what the monthly payments were,plus remortgaged a few times with them so monthly payments may be different, does anyone reccommend getting old bank statements from the bank to double check against offer or are the banks reliable when they make an offer.

Thanks

Replies

  • dunstonhdunstonh Forumite
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    Most MPPI are paid via your current account and not via the mortgage. That said, some older mortgages did collect it via the mortgage payment.
    You can request a copy of your credit agreements for each remortgage which will detail the amount of PPI added to the mortgage.

    MPPI does not appear on mortgage agreements. Halifax have never retailed single premium MPPI either. So, they have never added it to the mortgage.

    Back to the OP, Halifax will refund fairly. You dont need to get details to check it. They roll over very easily on PPI, even when they dont need to. They automatically refund the MPPI element of the policy (not the life or CI element if you have those) going right back to when they agree.
    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.
  • Thanks for reply.

    Do you know how long it takes them to come back with the claims offer?
  • Mason49Mason49 Forumite
    1 Post
    I received a letter from the Ombudsman Service on the 17/5/13 and was told Halifax would have 8 weeks to settle the claim. I went into Halifax today 4/6/13 to speak to an advisor and was told to expect word usually between 2-3 weeks and I would have to agree with a figure and once agreed it usually arrives by cheque or you can request it be transfered into your current account. Why anyone works in cheques these days is beyond me...
  • -taff-taff Forumite
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    Mason49 wrote: »
    Why anyone works in cheques these days is beyond me...


    Because not everyone still banks with the institution they are complaining to.
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