Mortgage paid off in 2001

pmhtuk

Hi

I can't seem to find a simple answer anywhere.. Halifax had a mortgage for my dad and he was self-employed at the time taken out (1988) and paid it all off in 2001.

However, can he reclaim for the ppi payments during this payment? If not, when is the cut-off date?

Cheers

P

roonaldo

Mortgage PPI covers self-employed as most PPI does. From what I remember some of the older Halifax policies had no onerous conditions for self-employed to claim.

There is no cut off, although more and more companies now are trying to time bar under the limitations act.

dunstonh

However, can he reclaim for the ppi payments during this payment?

No he cant. Just because you dont claim on a policy, does not mean you can ask to the money back. If the policy has been mis-sold then you can put in a complaint and they will have to look at it and if they agree with you then they will return the premiums relevant to that part of the complaint. e.g. Halifax had a plan which is multi-segment. It allows MPPI, Income protection, life assurance and CI cover to be held under a single plan. You could have one bit or multiple bits. They will only refund the bit that is applicable.

You havent given any reason for complaint or mis-sale in your post. So, on that basis, no he cannot ask for the money back.

_Andy_

pmhtuk wrote: »

Hi

I can't seem to find a simple answer anywhere.. Halifax had a mortgage for my dad and he was self-employed at the time taken out (1988) and paid it all off in 2001.

However, can he reclaim for the ppi payments during this payment? If not, when is the cut-off date?

Cheers

P

For what reason you feel he should be able to reclaim the premiums?

pmhtuk

Hi

My dad was self employed at the time and my mum wasn't working. As such, I understand that he shouldn't be able to claim on a PPI policy as it would exclude his self employment.

Additionally, one of the documents says that it would only pay £200 a month - his mortgage premium was £260.

Dad said he was told he had to accept the PPI or the mortgage wasn't available.

P

dunstonh

My dad was self employed at the time and my mum wasn't working. As such, I understand that he shouldn't be able to claim on a PPI policy as it would exclude his self employment.

What makes you think the policy would not have covered self employment? Most MPPI does.

Additionally, one of the documents says that it would only pay £200 a month - his mortgage premium was £260.

Not a mis-sale reason. Maybe his mortgage was £200 when he started and it went up to £260 and he never increased it. Maybe he wanted a round figure covered.

Dad said he was told he had to accept the PPI or the mortgage wasn't available.

It was not uncommon for mortgage deals of that era to require an insurance product. That doesnt make it a mis-sale as that is allowed. Even if it wasnt the case, does he have any evidence to support is allegation?