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Raypollock

I want to try to reclaim mis sold PPI. I have a few questions.
1. I think that my PPI may be underwritten by Legal & General although my mortgage is with Alliance & Leicester. Who do I claim from?
2. I have moved home since originally taking the policy but am with the same lender. Do I need to make a new claim for each mortgage? I think things just followed on, one house to the next. The first house was bought in 1996 then we moved in 2001 and I think we have been paying all this time!

Nasqueron

You complain to whoever sold you the PPI

What are your mis-selling reasons? What do you have to support the allegations?

Be aware though that MPPI may actually have been mandatory - I'm sure dunstonh will be here soon to give qualified advice as I'm not in finance

Raypollock

Nasqueron wrote: »

You complain to whoever sold you the PPI

What are your mis-selling reasons? What do you have to support the allegations?

Be aware though that MPPI may actually have been mandatory - I'm sure dunstonh will be here soon to give qualified advice as I'm not in finance

Given that it's 18 years ago it's hard to remember but I'm fairly sure we were put under pressure to buy insurance. Question is how do you prove such things after this length of time. Plus we all sign for it and tick a box saying we understand everything. Even if we don't really understand.

dunstonh

1. I think that my PPI may be underwritten by Legal & General although my mortgage is with Alliance & Leicester. Who do I claim from?

The person or firm that originally sold it.

2. I have moved home since originally taking the policy but am with the same lender. Do I need to make a new claim for each mortgage? I think things just followed on, one house to the next. The first house was bought in 1996 then we moved in 2001 and I think we have been paying all this time!

If the policy changed then you would complain to each seller.

Given that it's 18 years ago it's hard to remember but I'm fairly sure we were put under pressure to buy insurance.

That isnt a complaint reason that will succeed though. So, I wouldnt worry about it.

Question is how do you prove such things after this length of time.

You dont. Unprovable allegations nearly always result in rejections unless there is another failing. Timescale has a lot to do with it. Someone complaining within a few months of the sale saying they were pressured is quite credible. Someone complaining 18 years ago has no credibility and just looks like an opportunistic complaint trying-it-on.

Plus we all sign for it and tick a box saying we understand everything. Even if we don't really understand.

I dont think it is a good idea to say we all do that. You may. However, most dont.

Most MPPI complaints are rejected by firms and the FOS. You are going to need something stronger realistically if you want your complaint to succeed. If you used an adviser, then give up now. Its way before regulation for advisers.

Insider101

The problem with this is that "pressure" is subjective. If you were advised that you really need the insurance then that may be seen as pressure. However in most cases it is true with a mortgage. Only if you can demonstrate that you were actually misinformed about the product would you expect this to succeed. Plus, MPPI is a good product , reasonably priced and not simply a bank cash cow.