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mortgage PPI
trucklady
Posts: 3 Newbie
Hi Everyone, I am new and would like some help please.
I have been paying mortgage protection for 5 years, after reading on here to check your policy if you are agency workers I called my policy supplier. They confirmed agency workers are not covered on my policy and said I was missold the policy as I was an agency worker when I took it out and to call my broker who missold it. They gave me all the brokers details etc. Do I just call the broker and lodge a complaint?
any advise is much appreciated.
Thank you
I have been paying mortgage protection for 5 years, after reading on here to check your policy if you are agency workers I called my policy supplier. They confirmed agency workers are not covered on my policy and said I was missold the policy as I was an agency worker when I took it out and to call my broker who missold it. They gave me all the brokers details etc. Do I just call the broker and lodge a complaint?
any advise is much appreciated.
Thank you
0
Comments
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Yes.
You should have received an IDD document. There should be an address/number to contact in order to make a complaint.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thank you. sorry just so I am clear would this IDD document have been given to us by the mortgage broker when we took the mortgage?0
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It should have been.
I wasnt a broker 5 years ago, but as it currently stands its a 2-3 page document and says about our services on the front.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
An Initial Disclosure Document should be provided by an advisor in the early stages of your discussions with them, so you can establish the service they offer and how they are remunerated.
At the back are set out their complaint and compensation scheme details.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
You should have been given one, but if you were not, or just lost it, you can still just find their address ( assuming they are still in business), write to them and complainThank you. sorry just so I am clear would this IDD document have been given to us by the mortgage broker when we took the mortgage?I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
thank you everyone for your help. I only called this morning so I now need to ring back and cancel my policy because it is no good, but I am worried about having no cover. Can anyone advise any companies that cover agency workers for MPPI? I am so confused. I want the security of cover but don't want to waste another few thousand pounds paying a policy that isn't going to pay out if the worse happens.0
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Ironic as this may sound, I can only suggest speaking to a broker who can establish who would actually cover you and for what they would pay out.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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I would agree, a broker is best bet. I would expect them to look at full on income protection policies (also known as PHI).I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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