MPPI on my former residence that I now rent out

craignbburn

Good Morning,

I have just joined M.S.E. today because I was curious about the PPI I took out on a mortgage.

Please bear with me, I have not got the exacte dates with me. This is just a 'post in principle'.

In arounf 2005-2007 I changed my mortgage to A&L using an independant financila advisor. (They are now out of business)

IN finding me a new mortgage they also got me a PPI product from Universal Provident.

I have paid this premium ever since, it's not a lot per month, but I have started to question its need. At the time I worked for a different company and in 2011 I was made redundent, I found another job so have had continued employment.

However, I have had to move away from my house, so I now rent it out.

My question is could this affect the PPI? Should I have informed U.P.? If this has invalidated the PPI in any way, I was curious as to if I could claim it back?

My new job has much much better sick pay cover etc, its a water company.

Sorry if there a re gaps in information.

craignbburn

Also, I am very impressed with the wealth on information on here, will deffo have a look around!!

_Andy_

There is nothing to 'claim back'

craignbburn

Can PPI be affected by changing jobs or renting the property? As in, could I be paying for something I could never claim?

Regardless of me losing my job, I now have a rental income for the property

dunstonh

Yes it can be affected by changing jobs. You typically have to qualify for unemployment cover again with each employer. Although sickness will be continuous.

roonaldo

PPI isnt refundable just because your circumstances changed. It needs to be mis-sold.

craignbburn

The PPI is being refunded because my circumstances changed.

I called them up to ask them the question that because my circumstances have changed, can I still claim the benefits of this policy should I need to claim.

It was reffered to their underwriters, who explained, that it no longer applied from the date I moved out of the property. They then told me I could have my premium refunded from that point.