Can I claim Mortgage PPI from Pinnacle

philn67

Can anyone advise?
I took a Paysafe mortgage protection plan with Cardiff Pinnacle in 1996 arranged by Northern Rock with my mortgage. I don't remember but assume the agent went through the details and I agreed to have it but I do recall I explained my circumstances as being employed and also part time self employed. I believe it was mis-sold though because:
I didn't need it, I was full time employed but also part time self employed and had funds available if I were made unemployed. I took the policy thinking it would cover me though just in case.
I had life cover that covered me for disability and death.
The implications of becoming self employed were not explained to me at all.
In 2007 I called and changed my details to self employed. I did this over the phone. I asked if I was still covered, needed to fill anything in, and anything I should be aware of. I was told no, it was changed and that was that.
In 2009 I hit hard times and had no work for 6 months so decided I should claim. I found that I was only covered if I officially signed on, and closed down my business completely. Close bank accounts, deregister vat, and officially dissolve, leaving no chance for recovery. After complaints in writing and a lengthy process I was finally refunded a small amount and the policy cancelled.
This sort of policy is not suited to someone who's circumstances may change and isn't suited to anyone self employed as I found out, so can I make a claim and should it be to Pinnacle as Northern Rock don't exist anymore?

dunstonh

I didn't need it, I was full time employed but also part time self employed and had funds available if I were made unemployed. I took the policy thinking it would cover me though just in case.

Which is a good reason for taking it and shows you wanted it.

I had life cover that covered me for disability and death.

Which is good but irrelevant as it has no overlap with MPPI.

The implications of becoming self employed were not explained to me at all.

What implications? Unlike some loan and credit card PPI, MPPI does tend to cover the self employed with little or no restriction.

In 2007 I called and changed my details to self employed. I did this over the phone. I asked if I was still covered, needed to fill anything in, and anything I should be aware of. I was told no, it was changed and that was that.

Which is almost certainly correct given that MPPI from pinnacle does usually cover self employed.

In 2009 I hit hard times and had no work for 6 months so decided I should claim. I found that I was only covered if I officially signed on, and closed down my business completely. Close bank accounts, deregister vat, and officially dissolve, leaving no chance for recovery. After complaints in writing and a lengthy process I was finally refunded a small amount and the policy cancelled.

You were trying to claim on the policy despite not being unemployed. Hence they would refuse the claim. You made a complaint and they gave what was probably a goodwill gesture but nothing you have said indicates any wrongdoing on their part.

This sort of policy is not suited to someone who's circumstances may change and isn't suited to anyone self employed as I found out, so can I make a claim and should it be to Pinnacle as Northern Rock don't exist anymore?

It is suitable for people where the circumstances change and remain eligible for cover (As yours did). It is suited for the self employed. Problem is that you were not unemployed. You were still trading.

You have already complained and they have given their response and you accepted payment from them. You dont get to complain again.