mortgage sure tsb

beckydee

hi going bk about 19 years back i had a endowment mortgage with tsb at the time .i chashed the endowment in bk in 2001 as we where told the endownment would cover the mortgage at the end ,never thinking at the time we never stoped the mortage sure on this endownment till about five years later..would this pay out on ppi as basically we where miss informed on the mortgage in first place and bk in 1998 i stopped working to have a child so basically i wasnt wortking at the time
thanks for advice in advance :cool:

dunstonh

You mention mortgage and endowment policy but you dont mention if you had MPPI. Did you?

Endowment policies are neither PPI or had PPI on them. So, if you had it, it would be a standalone plan. Banks only ever retailed monthly premium. So, it would have been a separate monthly premium to the mortgage and endowment.

Did your spouse/partner work? Did it cover them (assuming you had it)?

beckydee

when i did work it covered me for a years payment bk in 1997 for my mortgage payment but am not sure if it was this (so basically am asking what was mortage sure for )was it ppi

beckydee

and basically we where told we had to have this to cover death of either me or my partner or if either of us came out of work at the time

dunstonh

when i did work it covered me for a years payment bk in 1997 for my mortgage payment but am not sure if it was this (so basically am asking what was mortage sure for )was it ppi

If it paid out then you cant complain you were not eligible or didnt need it or didnt know you had it. Plus, even if you complain and you succeed, the amount they paid out under the claim would be deducted from the redress. That may be more than you paid in premiums.

and basically we where told we had to have this to cover death of either me or my partner or if either of us came out of work at the time

PPI doesnt pay out on death. So, it wont be that which they were talking about. The endowment pays out on death. So, are you perhaps getting the two things mixed up? That would have been compulsory for an interest only mortgage in those years.

beckydee

i cash this endownment in in 2001 to a repayment mortgage but never realised i was still paying the mortage sure on this till 2006 i had a repayment mortage with a differant account number my fault never realised was still pay for 5 years

-taff

You can ask nicely for a refund but they don't have to give it to you because stopping it was up to you.
Ask nicely, see what happens.