PPI on Mortgage

Cheekypomme

Hi All,

Is it possible I have been paying PPI on my mortgage with the Cheltenham & Gloucester as they are brokers for Lloyds/Tsb I have no idea if this is the case??
Can anyone enlighten me please?:)

dunstonh

Is it possible I have been paying PPI on my mortgage with the Cheltenham & Gloucester as they are brokers for Lloyds/Tsb I have no idea if this is the case??

Yes it is possible. MPPI is considered a valuable product for many people and today it is one of only two types of PPI that are still retailed. It is a very common product.

I'm not sure how you wouldnt know if you had it or not as it is very obvious. Your monthly bank statement would tell you for starters as there would be a direct debit.

Note, C&G have never been brokers for LloydsTSB. Lloyds sold C&G branded mortgages.

magpiecottage

Do you have a direct debit going out for it?

Cheekypomme

The direct debit just states C&G mortgage payment....
Would anything be on my annual mortgage statements?

magpiecottage

There are two possibilities.

The first, and by far the most common, is that you will have a direct debit payable to the insurer (in addition to the one payable to the lender). In that case your mortgage statements will not show it.

If, unusually, the lender collects the premium for the insurer as part of the mortgage payment then it should show on the mortgage statements.

Cheekypomme

No there is only payment that goes direct to C&G.... I have insurance separate with Friends Provident for myself and husband ...they too are rather evasive at sending me details of the policy I took out with them 11yrs ago, it was for Critical illness/death for the mortgage.
My IFA left the UK to live in Spain some years ago so I haven't spoken to anyone about this...

dunstonh

The direct debit just states C&G mortgage payment....
Would anything be on my annual mortgage statements?

No. C&G MPPI was a monthly direct debit. They didnt add it to mortgage.

I have insurance separate with Friends Provident for myself and husband ...they too are rather evasive at sending me details of the policy I took out with them 11yrs ago, it was for Critical illness/death for the mortgage.

Friends are usually fine sending out policy information. I request from them often and they have a basic template they use in responses.

If you dont have a direct debit going out for the insurance then you dont have MPPI.

roonaldo

Cheekypomme wrote: »

Hi All,

Is it possible I have been paying PPI on my mortgage with the Cheltenham & Gloucester as they are brokers for Lloyds/Tsb I have no idea if this is the case??
Can anyone enlighten me please?:)

Is it possible? yes. why dont you ask them? as people you dont know on the internet cannot tell you if you have PPI or not.
C&G are not brokers by the way.