Mortgage ppi

Sarros

Thanks...I will check through the policy just to make sure, although fingers crossed we won't ever be in a position where we will need to make a claim.

grandeb

Yes I did read it!!

I was replying to why I thought it had been mis sold!

[Deleted User]

grandeb wrote: »

I was replying to why I thought it had been mis sold!

So hopefully you now know better.
MPPI covers probably the most expensive asset you own, it pays out in addition to any employment benefits and it pays for up to twelve months. The Bank have already refused your complaint and there are already instances of FOS rejecting complaints on this basis too.


Let us know how you get on in eighteen months...

roonaldo

grandeb wrote: »

Because there was no discussion regarding its suitability

it's possible it could have been a non advised sale, also its 16 years ago and its likely you may have forgotten things. you would have completed an application form and separate direct debit for it.

or cost

its a monthly paid policy, the cost is x a month, there is no interest or anything else. the cost would be on the application form.

or our employment history as to whether we were paid if we were on long term sick.

they would have had details of your employment history as you were applying for a mortgage. You had sick pay ok, but the PPI pays out on top of the sick pay so you would only be better off. also the PPI is to protect your house so would have provided valuable cover.

At that time in 1997 my husband and myself were in full time employment (of which I am still with the same employer)

this just shows you were eligible for the cover which is good, insurance is to cover what might happen.

My understganding is that a full and frank discussion should take place prior to any ppi being sold?

how can you prove there was no discussion after 16 years? all the evidence shows you wanted it, signed for it and paid for many years.

You must know that mortgage PPI is treated differently to other types of PPI and there is nothing wrong with having it. I cant imagine why the Ombudsman would overturn a decision.

societys_child

grandeb wrote: »

.
At that time in 1997 my husband and myself were in full time employment (of which I am still with the same employer) we both were paid 6 months full pay and 6 months half pay should we be off work thru illness

You honestly believe that would have paid off your mortgage?
What if you had a life changing illness and were unable to ever work again?