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Six year rule-too late to claim?
Wazz118
Posts: 5 Forumite
Hi
I am looking for some advice about the following possible PPI claim as I am not sure about the 'six year rule' I have read about.
I took out a mortgage for a house extension with the Abbey National in June 2003 and at that time I was told that taking out the PPI for Redundancy (one policy) and Sickness (2nd policy) was a condition of the mortgage being granted but I was definitely not told that the PPI was optional.
In 2006 or 2007 (will have to check) I took out a further loan on the mortgage and as far as I can remember the PPI increase was never dicussed in detail with me and the premium for the PPI increased in line with the then higher mortgage.
I pay the final payment on the mortgage on the 3rd of June this year as the mortgage term was for ten years but from what I have read and been told by others the PPI may have been mis-sold to me, but because of the 'six year rule' would any claim made now be invalid?
Due to the mortgage term expiring I paid the final two PPI instalments (Redundancy and Sickness) two weeks ago.
Would be grateful for any advice.
I am looking for some advice about the following possible PPI claim as I am not sure about the 'six year rule' I have read about.
I took out a mortgage for a house extension with the Abbey National in June 2003 and at that time I was told that taking out the PPI for Redundancy (one policy) and Sickness (2nd policy) was a condition of the mortgage being granted but I was definitely not told that the PPI was optional.
In 2006 or 2007 (will have to check) I took out a further loan on the mortgage and as far as I can remember the PPI increase was never dicussed in detail with me and the premium for the PPI increased in line with the then higher mortgage.
I pay the final payment on the mortgage on the 3rd of June this year as the mortgage term was for ten years but from what I have read and been told by others the PPI may have been mis-sold to me, but because of the 'six year rule' would any claim made now be invalid?
Due to the mortgage term expiring I paid the final two PPI instalments (Redundancy and Sickness) two weeks ago.
Would be grateful for any advice.
0
Comments
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You have 6 years from the event in question or 3 years from being reasonably aware of a reason to complain to make your complaint.
You can still complain. What you have been told is wrong. However, I would be more concerned about your reason for complaint. Its about as weak as you can get. Plus, it is against MPPI. MPPI has the lowest success rate of any type of PPI. Abbey only did monthly premium. So, they set theirs up correctly. So, this means you wont get a technical failure. You would need a stronger complaint reason unless you get lucky with an auto payout.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.0 -
I had a PPI policy against a car loan in about 1996/1997. Because my late husband was self employed, we were advised to take it.
Is it to late to make a claim as so long ago ?
It was with Abbey National and I have been in contact with Santander who simply tell me they can't locate my records even though the account used to collect the premiums is still by existing current account.
Should I just give up ?0 -
Yes. Or you can send them a SAR and £10 to chekc there's nothing left. But it's your £10.and whether you want to spend it or not.Non me fac calcitrare tuum culi0
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