Was I mis sold mortgage ppi?

claire79_2

Hello I'm a first timer here. Just need a bit of advice regarding my mppi.
Been trying to sort out our finances lately and found we can mortgage payment protection paying around £40 a month with cardiff pinnacle. My husband is type 1 diabetic has been for 40 years. We both work full time private sector and local government so both employers have sick pay that would overlap the payments we would receive. I'm just basing the mis sold policy based on pre existing medical condition and overlapping sick pay.
Anyone any idea if I should try and reclaim?
Thank you in advance

dunstonh

Anyone any idea if I should try and reclaim?

You havent given any indication that there is a mis-sale.

The FOS have been rejecting complaints where there is 6 months full pay, 6 months half pay. That reason works well with short term debts but not long term debts secured against your property with lifestyle changing consequences if it goes unpaid.

Here is what they said in a recent case where there was 18 months sick pay (however there are others that say similar):

I have considered Mr G’s employee benefits at the time of the sale. He says he would
have received up to 18 months’ full pay if he could not work due to sickness. Although
this suggests Mr and Mrs G would have been able to cope for a period if Mr G was
unable to work due to ill health, under the MPPI policy, they would have been entitled to
monthly benefit payments of £400 for up to 24 months, if Mr G was to claim successfully.
The same would apply if Mr G became unemployed. And since, in the case of sickness,
the MPPI policy would pay out in addition to Mr G’s work benefits, it would have further
removed the pressure on Mr and Mrs G to maintain their mortgage repayments at what
may well be a difficult time for them – especially given they had four dependants and
Mrs G’s salary was considerably lower than her husband’s. I also note that Mr and Mrs G
say they would have had no other means (such as other insurance policies or savings) to
make their mortgage repayments if Mr G was sick or become unemployed.

Type 1 diabetes is not an issue for MPPI. Whilst diabetes or any condition that arises from it would not be covered, any unrelated issue would be. Pre-existing conditions have to be something that would prevent the ability to claim on the policy in most cases.

Again, another FOS rejection on the basis of type 1 diabetes for MPPI and one for loan PPI (most MPPi complaints are rejected. Most PPI complaints for loans and credit card are upheld):

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=22281
http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=23455

nick47

am sorry am new to this