RBS Mortgage PPI

steviecuk

Hello,

Hoping for a bit of advice.

My wife and I took out a Joint mortgage in 2002 with RBS as first time buyers and were sold PPI with it. We extended the mortgage in 2004 and the PPI was extened at the same time.

When we agreed to the PPI we were told that it would cover 100% of mortgage payments for a period of time if one of us made a claim. However when my wife was made redundant last year we looked at making a claim. However we were told that if succesfull the payment made would only cover about 40% of the monthly mortgage payment. Luckily my wife found another job so we didn't need to make a claim.

I've cancelled the policy as it's not delivering what we were told it would, but is it worth us trying to reclaim the payments already made?

Many Thanks,

Steve.

dunstonh

but is it worth us trying to reclaim the payments already made?

On what basis would your complaint be? Or more importantly, what evidence do you have to back up you allegation as MPPI is usually structured that the coverage is similar to household earnings (e.g. 60/40 or 50/50 or 100/0 etc. So, 100% of the mortgage payment is the figure covered but it would pay out relative to the spouse/partner that is made redundant).

roonaldo

Surely you agreed the split on the PPI application form? If you have then you have no argument. Try to obtain a copy.

You also didnt make a claim so you have not suffered financially. If you are unhappy with the policy then seek alternative cover.