how to know if i was missold mppi

steele72

I took out a mortgage with Abbey in 2004, I was told I HAD to take out payment care or we wouldn't get a mortgage with them. I know its important but I wasn't given a choice to look elsewhere for a cheaper alternative. Was I mis-sold?

[Deleted User]

steele72 wrote: »

I took out a mortgage with Abbey in 2004, I was told I HAD to take out payment care or we wouldn't get a mortgage with them.

You'd need proof that you were told you had to take the insurance and then only if it wasn't compulsory would you have any complaint. For some mortgage deals, the insurance was mandatory.

steele72 wrote: »

I know its important but I wasn't given a choice to look elsewhere for a cheaper alternative.

As above. At best, your complaint is weak hearsay. At worst, you have no valid complaint at all.

dunstonh

I know its important but I wasn't given a choice to look elsewhere for a cheaper alternative.

Did you ask them to look elsewhere?
Can you prove you told it was compulsory when it wasnt? (rare to be able to do so)
It may have been compulsory as sometimes the banks run mortgage deals that require a cross subsidy product. That is allowed as long as the insurance is suitable for need.

steele72

Ok thank you very much for your time.