ppi claim for mortgage

edited 30 November -1 at 1:00AM in Reclaim Bank & Credit Card Charges
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oldgirl63oldgirl63 Forumite
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I had ppi on a mortgage in 2002 at the time I was a full time teacher employed by the local authority with a sickness payment plan lasting for 12 months. I was told at a later annual review meeting with my then bank manager that I did not require the cover and she immediately cancelled it .Can |I reclaim I have the policy number etc and have my bank statements for that period .HELP!

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  • McKneffMcKneff Forumite
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    You don't just reclaim it just because you had it.


    You make a complaint about miss selling, the reason you give is a very weak one to be honest.


    MPPI was usually a good idea even if you were on full salary.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • dunstonhdunstonh Forumite
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    I had ppi on a mortgage in 2002 at the time I was a full time teacher employed by the local authority with a sickness payment plan lasting for 12 months.

    Teachers get 6 months full pay and 6 months half pay. Whilst that is a good reason with short term debt (loan and credit card PPI) it doesnt work as well with mortgage PPI and the FOS have been rejecting complaints with that.

    Here is a FOS outcome on an MPPI sale with a teacher: http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=37842

    You can be mis-sold anything. If it was credit card or loan PPI then you would have a strong complaint. With MPPI not so strong.
    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.
  • Given that the manager cancelled the policy I assume they were aware of the OP's financial and work circumstances. It's not clear from the OP if the original policy and manager worked for the same bank but if they did it seems to support the premise of the original sale being inappropriate
  • NasqueronNasqueron Forumite
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    A 25 year mortgage would not really be covered by a 6 / 6 sick pay though especially if it was a longer term thing and the MPPI often pays out in addition, covering other bills without the person having to use savings etc

    If the manager wasn't trained they might have cancelled the policy incorrectly, or the original poster might have demanded the policy be cancelled (we only have their vague description of the situation).

    OP - if you were off sick for 12 months could 6 months full / 6 half pay cover your mortgage, council tax, all bills, food, transport etc for a year or more? Did you have savings or other policies?
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  • dunstonhdunstonh Forumite
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    Given that the manager cancelled the policy I assume they were aware of the OP's financial and work circumstances.

    Very few bank branches had managers as authorised regulated advisers. However, it was not uncommon for a manager to stick their noses in and say things which were not correct.
    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.
  • Of course, in 2002 there was also no statutory regulation of PPI and even now you need no qualifications or individual registration to sell it.

    Depending on how on the ball whoever investigating the complaint is, they may say "well you considered it was not right for you in 2002 but did not complain for another 12 years - so we'll timebar you".
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