Mortgagesure lloyds ppi

jemimabrody

Hi, I got a job with Lloyds bank in 1996 and got a Mortgage with them the same year, the job I had made me realise that there was little point in PPI ( main job writing off debts, lots with PPI which you couldn't claim on). A friend contacted who I used to work with recently and said she found out she was paying mortgagesure and to pay the bank £10 and get old micro filmed documents, got them through after the bank told me they have no trace of me having a mortgage as too old..... I saw I was paying £28 monthly mortgagesure on!!! Couldn't believe it as when I borrowed money on loans even being an employee they would give you the hard sell on it but I never took it.
I'm thinking they must of said it was MUST/part of mortgages as I would not of knowingly taken it out.
I first contacted the bank on the 3rd April and they have written back once saying they can't trace a mortgage then to say I didn't have cover. I now have to send of all the documents to prove I did.......how many people have just been told they didn't have it and just believed them. Can I claim it back although it is listed clearly on my mortgage app with home and content part (all paid in 1 payment it each) .

dunstonh

Staff members who have a role in a part of the bank that deals with lending/PPi etc typically get rejected.

Lloyds have not said you didnt have it. They said they have no trace. That is not unexpected as it was a standalone product and not built into the debt and nearly 20 years go (way before insurance regulation).

You havent said what your complaint reasons are (nothing in your post suggests mis-sale). So, its difficult to comment on whether you have a valid complaint reason but you are allowed to complain.

jemimabrody

Hi my father was the guarantor of the mortgage, we questioned if there was a need for the insurance at the time ( he would of had to cover if I defaulted) but they said it was part of the mortgage offer plus I had quite a lot of cover in my contract ie life cover, sick, redundancy etc, many thanks

dunstonh

jemimabrody wrote: »

Hi my father was the guarantor of the mortgage, we questioned if there was a need for the insurance at the time ( he would of had to cover if I defaulted) but they said it was part of the mortgage offer plus I had quite a lot of cover in my contract ie life cover, sick, redundancy etc, many thanks

So, having a guarantor actually increases the risk to others and therefore makes the need for insurance greater.

magpiecottage

jemimabrody wrote: »

Hi my father was the guarantor of the mortgage, we questioned if there was a need for the insurance at the time ( he would of had to cover if I defaulted)

Precisely as dunstonh says, if you defaulted, your father was personally liable for the entire debt.

I had quite a lot of cover in my contract ie life cover

Which is not PPI and, if your job ended would also stop

sick

How much and for how long?

redundancy

Redundancy pay is never guaranteed. If your employer goes bust then they cannot pay it.

And your employer DID go bust. That is why we taxpayers are now shareholders - but when you took the mortgage on there was no guarantee for it to rely on that the government would bail it out.

etc

I'm afraid that does not mean anything. It could be a Christmas party, Haribo sweeties on Friday afternoons "etc."

I'm sorry if this sounds harsh but nothing you have said would persuade me that your complaint should be upheld.

jemimabrody

Thank you for your help, may I correct you, Lloyds Bank didn't go Bankrupt, it was a healthy business until Gordon Brown held a shot gun wedding with a bank he knew was going under.... my annual income was £7k we're not all rich bankers but you say you worked for a bank and your treated with contempt.....have a nice day

magpiecottage

I am afraid you have not corrected anything.

There was never any guaranteed redundancy payment and, regardless of the cause, Lloyds TSB (as was) found itself in a situation where it could not meet its commitments .

So I'm afraid my view still stands.