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PPI - Which company do I contact?
The_Watcher
Posts: 21 Forumite
I've only just realised that I may have been sold PPI on a now paid off mortgage.
I was 'sold' a fixed rate repayment mortgage with the then Birmingham Midshires Building Society, a condition of which was taking out Term Assurance (or insurance?) with Scottish Widows.
I understand that both institutions are now part of the Lloyds Bank Group, but do I contact Birmingham Midshires or Scottish Widows to reclaim PPI?
I was 'sold' a fixed rate repayment mortgage with the then Birmingham Midshires Building Society, a condition of which was taking out Term Assurance (or insurance?) with Scottish Widows.
I understand that both institutions are now part of the Lloyds Bank Group, but do I contact Birmingham Midshires or Scottish Widows to reclaim PPI?
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Comments
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I was 'sold' a fixed rate repayment mortgage with the then Birmingham Midshires Building Society, a condition of which was taking out Term Assurance (or insurance?) with Scottish Widows.
Nothing wrong with that.I understand that both institutions are now part of the Lloyds Bank Group, but do I contact Birmingham Midshires or Scottish Widows to reclaim PPI?
Scottish Widows dont offer PPI. They are a life assurance company. Not a general insurance company.
Who is your PPI with? Who sold it to you? (the lender, a broker etc)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 -
Scottish Widows dont offer PPI. They are a life assurance company. Not a general insurance company.
Who is your PPI with? Who sold it to you? (the lender, a broker etc)
I was 'sold' the mortgage by a Financial Adviser who was attached to the solicitors who were doing the conveyancing.0 -
The_Watcher wrote: »I was 'sold' the mortgage by a Financial Adviser who was attached to the solicitors who were doing the conveyancing.
Advisers only became regulated for general insurance from January 2005. However, your main issue is that you dont appear to have PPI.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 -
Term Assurance is not PPI, it's a type of life insurance, which may also have been a condition of your mortgage - many banks made life insurance a condition and there was nothing wrong with that.
So as Dunstonh says above, you don't appear to have PPI.0 -
Thanks for the replies.0
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