MPPI - Yorkshire Building Society

mingleheaven

Hi

I currently have a mortgage with Yorkshire Building Society and have mortgage payment protection, which I believe has been missold. At the time I was employed and in the event of sickness, illness or redundancy I would / will have had sufficient cover to pay the mortgage.

Has anyone claimed with Yorkshire Building Society and been sucessful? If so where do I claim as I cannot find this information.

dunstonh

At the time I was employed and in the event of sickness, illness or redundancy I would / will have had sufficient cover to pay the mortgage.

So, no reason for mis-sale there.
1 - redundancy pay does not overlap with MPPI. It is also not guaranteed
2 - employment verifies you were eligible for cover
3 - the FOS have been rejecting complaints for MPPI where there is 12 months sickpay. The reason being that mortgages are long term and a serious debt (secured against property).

So, none of the reasons you have given indicate a wrongdoing. Now, if you had say 2 years income in a savings account in addition to those things at the point of sale (not including money used for deposit) then you may have a stronger case for not needing it.

magpiecottage

From 1 April 2013 to 31 December 2014 there were 373 Ombudsman decisions about PPI involving Yorkshire Building Society of which 303 were rejected.

The 70 upheld complaints seem to be largely due to an inadequate explanation of the cover available to the self-employed (essentially a total business failure with accounts to demonstrate this). This does not apply to you.

It could also apply if somebody was on a fixed term contract but the fact that you seem to be saying you would have expected to receive a redundancy payment if you lost your job appears to rule this out. (Redundancy payments are never guarantered and therefore not a valid complaint reason).

The other reason is serious pre-existing medical conditions.

However, there is one case, DRN3141765 in which the Ombudsman noted that the mortgage application required the applicant to tick a box to say they did NOT want PPI.

If you go here and search for it, this may be of use to you in preparing a complaint.

Nasqueron

mingleheaven wrote: »

Hi

I currently have a mortgage with Yorkshire Building Society and have mortgage payment protection, which I believe has been missold. At the time I was employed and in the event of sickness, illness or redundancy I would / will have had sufficient cover to pay the mortgage.

Has anyone claimed with Yorkshire Building Society and been sucessful? If so where do I claim as I cannot find this information.

Do you mean you had the funds to pay off the mortgage for a few months if you lost your job or were unable to work while looking for a new one or while sick pay covered you at full rate? Or did you mean you could pay off the mortgage in which case, why borrow to buy the house and pay tens of thousands of pounds of interest?

Fizzy11

We were sold MPPI when we remortgaged to an Offset mortgage with YBS as we had £30,000 to place in savings pot against a mortgage of £85,000. When my husband rang Cardiff Pinnacle about claiming on the policy as he had been off sick for three months full salary but was signed off for a further month which he would not have been paid for,he was told if he had a pre-existing condition he couldn't claim. When we re-mortgaged there I do not remember filling in a medical form & YBS cannot produce anything. We remortgaged in 2004 & he was on medication for high blood pressure & wasn't signed off sick due to hypertension level 2.

dunstonh

When we re-mortgaged there I do not remember filling in a medical form

You dont with MPPI. Its checked at point of claim and not point of sale.

Fizzy11

Thanks.

So do you think there's any point of us trying to claim?

Insider101

Fizzy11 wrote: »

Thanks.

So do you think there's any point of us trying to claim?

I think you've probably been misinformed at the point of claim rather than sale. Having a pre-existing medical condition does not generally mean you can't claim on a PPI policy (otherwise if you take this literally, anyone who's ever been to the doctors would be excluded). It would only be if the claim was for a reason directly related to the pre existing condition. So if you had a history of heart trouble and then had a heart attack you wouldn't be able to claim. But if you had the same history of heart trouble then broke your leg you would be fine to claim. So it depends whether the reason for his attempted claim was related to his pre existing condition or not.

Fizzy11

Told by the ins company in Cardiff that as the reason for claiming was pre-existing we can't claim so in my eyes it's worth trying when we've paid for 10 years.

We have asked YBS for a copy of the Mppi form but it is totally illegible & original now destroyed. We have all our paper work but were never given a copy of the Mppi form.

Thanks by the way.

Insider101

Fizzy11 wrote: »

Told by the ins company in Cardiff that as the reason for claiming was pre-existing we can't claim so in my eyes it's worth trying when we've paid for 10 years.

We have asked YBS for a copy of the Mppi form but it is totally illegible & original now destroyed. We have all our paper work but were never given a copy of the Mppi form.

Thanks by the way.

No need. Just write in making your complaint and stating your reasons.

Fizzy11

Just for info financial ombudsmen say our claim will be upheld so we'll see.