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arvon
arvon
Posts: 10 Forumite
I had a joint mortgage with my late husband and had ppl on it. When he died the mortgage was paid of under the terms of ppi. Can I claim for the years it was running as we were told at the time it was compulsory in order to have mortgage granted
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So the PPI did its job (i.e. it paid off the mortgage)
If that the case then no, you can't complain about it, if you didn't have it then you'd be liable for the full mortgage. MPPI (Mortgage PPI) is one of the few PPI's that are really worth having, losing your house is a major life changing even so having protection against that is highly recommended.
Besides, having PPI as a condition of a mortgage was not a reason for complaint.0 -
Thanks for that. Did think that was the case and I am extremely grateful to have a roof over my head0
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PPI wouldn't repay the mortgage on death. It sounds like life cover to me (also known as mortgage protection, hence it sometimes gets confused with mortgage PPI).
It may well have been a condition of the offer in which case it's not something you can complain about. If it wasn't then you were misinformed, however, even if you could prove it you wouldn't be offered any compensation since the amount it paid off was presumably greater than the amount you paid for the policy?0 -
Yes, sorry, Insider is correct, its more likely to be life cover/assurance.0
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When he died the mortgage was paid of under the terms of ppi
PPI does not pay out in the event of death. That would have been life assurance.Can I claim for the years it was running as we were told at the time it was compulsory in order to have mortgage granted
As you didnt have PPI and had life assurance then no.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hold on. Regardless of it it were ppi or life insurance (which is obviously was), it paid out and cleared your mortgage, why would you want to complain about it? in making a complaint you are saying you shouldnt have been sold it. I dont understand why you would have reservations about being sold this policy when it saved your bacon. Pure greed only.0
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Hold on. Regardless of it it were ppi or life insurance (which is obviously was), it paid out and cleared your mortgage, why would you want to complain about it? in making a complaint you are saying you shouldnt have been sold it. I dont understand why you would have reservations about being sold this policy when it saved your bacon. Pure greed only.
A little bit harsh I feel but yeah the gist is there's no money to be made out of this.0
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