Help Reclaiming Mortgage PPI pre-2000

Holj

We had a mortgage with Nat West, for quite a few years until it was repaid when we re-mortgaged with Northern Rock in 2000. We know we had PPI on the NatWest mortgage and have written to them (RBS now) saying we were mis-sold PPI. They have responded saying they have no record of a mortgage, even though I was a member of staff when it was taken out. They say they only keep records for 7years so cant go back any further and we need to supply them with a reference number. We cant find any paper work relating to the mortgage other than the date we re-mortgaged.

How can we find out details of this mortgage or do we just have to give up the claim.

magpiecottage

If they cannot find your records and you have no information then you, literally, have nothing to complain about.

Even if your records were found, the mere existence of a policy does not mean you are entitled to your money back anyway - there must have been a missale.

What reason did you give for the policy being missold?

dunstonh

They have responded saying they have no record of a mortgage, even though I was a member of staff when it was taken out.

Its not the mortgage they need to look for. MPPI is not bundled with the mortgage but is a standalone plan. It is one of the reasons why most MPPI complaints fail. So, even if they could find the mortgage, they would still need to find the insurance.

How can we find out details of this mortgage or do we just have to give up the claim.

Look at your bank statements for the monthly direct debit for the insurance.

sussexbhoy

dunstonh wrote: »

MPPI is not bundled with the mortgage but is a standalone plan. It is one of the reasons why most MPPI complaints fail.

Please stop with this "most MPPI complaints fail" theory, it's 50/50 with MPPI according to the FCA.

magpiecottage

sussexbhoy wrote: »

Please stop with this "most MPPI complaints fail" theory, it's 50/50 with MPPI according to the FCA.

The FCA figures only refer to those cases where MPPI actually existed (which the OP cannot prove) and, if they did, were sold by the bank/building society itself.

A very high proportion of MPPI was sold by mortgage brokers and IFAs who will not roll over as banks tend to. Those cases have a low success rate at FOS, particularly pre 2005 cases, because they are judged against the Mortgage Code.

Admittedly, in the case of a staff mortgage this is unlikely but, at the same time, the likelihood that the borrower understood what they were doing is increased.

Finishrich

Not sure if you don't have the paper work.

But if you do find it definitely pursue it. I've just had PPI refunded with interest on a mortgage taken out in 1993. PPI was paid on it from 1993 - 1997 then I cancelled The PPI. Because it was so long ago and as I'd cancelled it I really didn't think they would entertain the claim. But I did have the mortgage statements to prove it though.

dunstonh

Finishrich wrote: »

Not sure if you don't have the paper work.

But if you do find it definitely pursue it. I've just had PPI refunded with interest on a mortgage taken out in 1993. PPI was paid on it from 1993 - 1997 then I cancelled The PPI. Because it was so long ago and as I'd cancelled it I really didn't think they would entertain the claim. But I did have the mortgage statements to prove it though.

I saw your amount and I would not be surprised if yours was an auto-payout. They could have applied a time bar in your case but as they didn't and the amount was lower the higher FOS fee, it was probably a commercial decision to refund and not waste time arguing.