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ppi
michael54r
Posts: 5 Forumite
Hi
I made a claim against Nationwide's mortgage PPi that I took out with my mortgage in 1993.
The claim was rejected but I'm questioning their decission based on the statement on the back of the original PPI documentation which states
" your insurance premiums form part of your total mortgage payment.Please ensure that payments are made in the month due,as any unpaid premiums wil be treated as underpayment of your mortgage,on which intereast will be charged.''
Am I right in thinking that I had to have the Nationwide PPi and couldn't take a alternative product from another source given that it was part of my monthly Mortgage payment & not treated as a separate insurance.
I made a claim against Nationwide's mortgage PPi that I took out with my mortgage in 1993.
The claim was rejected but I'm questioning their decission based on the statement on the back of the original PPI documentation which states
" your insurance premiums form part of your total mortgage payment.Please ensure that payments are made in the month due,as any unpaid premiums wil be treated as underpayment of your mortgage,on which intereast will be charged.''
Am I right in thinking that I had to have the Nationwide PPi and couldn't take a alternative product from another source given that it was part of my monthly Mortgage payment & not treated as a separate insurance.
0
Comments
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Am I right in thinking that I had to have the Nationwide PPi and couldn't take a alternative product from another source given that it was part of my monthly Mortgage payment & not treated as a separate insurance.
There was no requirement in 1993 to allow you to buy it elsewhere. That came in early 2000s. It was very common in the early to mid 90s to have mortgage deals that required the purchase of insurance. That was allowed then and is actually still allowed today although its uncommon nowadays.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
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