Chelsea Bld.Soc. Employment Protection Ins.

sunrisedawn

Did anyone take a mortgage with Chelsea in Reading in 1990 and was sold Mortgage Protection one off premium and Employment Protection which then did not pay out as they were self-employed. Anyone who worked for Citi-corp (Citibank) in Basingstoke who re-mortgaged with Chelsea.

dunstonh

sunrisedawn wrote: »

Did anyone take a mortgage with Chelsea in Reading in 1990 and was sold Mortgage Protection one off premium and Employment Protection which then did not pay out as they were self-employed. Anyone who worked for Citi-corp (Citibank) in Basingstoke who re-mortgaged with Chelsea.

Chelsea b/soc didnt sell single premium MPPI. No bank or building society did.

Are you perhaps mixing up MIG with PPI?

Also, most mortgage PPI pays out to self employed.

sunrisedawn

Chelsea Building society took a one off payment to protect the mortgage we then paid £89 per month to protect us from unemployment. They then did not pay out when we became unemployed as the protection was not for self employed which we were when we took out the policy.

[Deleted User]

More answers on your duplicate thread;
https://forums.moneysavingexpert.com/discussion/comment/59305889#Comment_59305889

dunstonh

Chelsea Building society took a one off payment to protect the mortgage

They never retailed single premium insurance though. The only things they would have taken up front were arrangement fees or mortgage indemnity guarantee (MIG).