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Claiming PPI on a mortgage?
SHAKERMAKER
Posts: 87 Forumite
My Husband took his first mortgage out in 1988 and continues to pay £25 approx per month which he has been told 'covers him if he is out of work or made redundant'. I think it's PPI. Is it possible?
(I've just moved this post as I'd put it in the wrong place!)
(I've just moved this post as I'd put it in the wrong place!)
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Comments
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I think it's PPI. Is it possible?
It is but that doesnt mean it is wrong.
Most MPPI is rejected on complaint. Why do you think yours was mis-sold?
Who sold it?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 -
If you get rid of it and are "out of work or made redundant" what will you do?0
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He took out other insurance (life&critical illness, sickness&accident) so was effectively over insured. They also sold him buildings insurance but because he was in a flat, that was paid by his management charge. So again, was over insured. I think he was stitched up because he bought the flat in a hurry after his parents died and they took advantage. All this was done at the Estate Agency too and I remember in those days they weren't as heavily regulated.0
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Aside from the buildings insurance, everything sounds fine.0
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e took out other insurance (life&critical illness, sickness&accident) so was effectively over insured.
None of those overlap with each other. So, no indication of being over insured.They also sold him buildings insurance but because he was in a flat, that was paid by his management charge. So again, was over insured.
They should not have sold him buildings insurance. That was wrong.All this was done at the Estate Agency too and I remember in those days they weren't as heavily regulated.
Its game over then. Estate agent brokers didnt become regulated until January 2005. This was 1988. Its way before regulation.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 -
Doesn't his mortgage finish this year? If he has remortgaged, then he should check what he's paying for covers his current mortgageNon me fac calcitrare tuum culi0
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