Mortgage protection query

egor110

Since 2002 i've been paying for mortgage protection so if my partner or I loose our jobs the mortgage would be covered.

Just got off the phone to the company and i'm paying £44 month and that covers me for £400 and my partner for £295.

We're currently overpaying the mortgage and paying £630 month.

Should i continue paying for this service, and is it worth claiming for a ppi refund as neither of the payments would cover the mortgage.

~Beanie~

To claim it back you would have to argue that it was mis-sold in the first place. Why do you think it was mis-sold?

egor110

Because it wouldn't actually cover the mortgage.

R_P_W

How much is your mortgage payment (not inc overpayment)?

Let_Us_See

Did MPPI cover your mortgage when you took it out back in 2002? Whilst it offers security covering 100% of monthly mortgage payments, there is no statutory regulation that states it must, and this should have rang a bell with the allocation of different levels of cover for you and wife?

_Andy_

So you increased the monthly mortgage payment but didn't increase the insurance cover?
That doesn't make it 'mis sold' - in fact nothing you've stated does.

Sounds like you're just wanting to jump on the bandwagon.

Presumably you'd have been quite happy to claim on it if you had been ill/out of work etc?

opinions4u

egor110 wrote: »

Since 2002 i've been paying for mortgage protection so if my partner or I loose our jobs the mortgage would be covered.

Just got off the phone to the company and i'm paying £44 month and that covers me for £400 and my partner for £295.

We're currently overpaying the mortgage and paying £630 month.

Should i continue paying for this service, and is it worth claiming for a ppi refund as neither of the payments would cover the mortgage.

Thoroughly sickening.