MPPI success and historic rejected policy claim

Jo_S29

Hello
I recently made a successful claim for mis selling of Mortgage PPI (MPPI) against the Halifax, relating to a mortgage I had with Leeds Permanent Building Society in the early 1990's. However, I was also sent a "Previously rejected claim on MPPI policy" form. This form says that as I tried to claim on the policy and it was rejected, I could ask them to reconsider the original claim (for assistance with mortgage payments due to illness in 1993/94 ). Basically, as I understand it, if the claim against the insurance was rejected due to the "mis-sold" policy terms, that they will consider paying this historic claim now. I have completed the form, returned it with covering letter and various document to the PPI department, I have now received a letter asking me to send all documentation again to another department ie the insurance department - this will be the third time of sending some of these documents. Has anyone any experience of doing this, were you successful, and could give me some advice please. Thank you

-taff

Send the {copied] documents, wait and see.

dunstonh

However, I was also sent a "Previously rejected claim on MPPI policy" form. This form says that as I tried to claim on the policy and it was rejected, I could ask them to reconsider the original claim (for assistance with mortgage payments due to illness in 1993/94 ).

This tends to happen if they feel that a claim was previously incorrectly rejected. It can lead to a greater payment than a refund of premiums plus interest. It also means, for the bank, that the insurer has to pay some of the money and not just the bank.

CRAZY:HORSE_2

I had a secured loan on my mortgage with GE Money back in 2003 and a further three re-loans after that leading up to 2006.
The loans were quiet substantial and so was the payment protection they added on each loan. The total payment protection I had totalled over £12000.
Each amount was added on top on the loan and the cover only lasted for 5 years, the loan period was for 20 years.
At the time I had a good pension from the NHS for 32 years service, which I get every month for life and I am also taking tablets for blood pressure problems. I did explain this when taking out the original loan.
I have all the original paper work to prove the ppi amounts etc..
I have put in a complaint all ready but I just wanted to know of some of you guys on here, if I have a good case or not?
Many thanks

magpiecottage

CRAZY:HORSE wrote: »

I had a secured loan on my mortgage with GE Money back in 2003 and a further three re-loans after that leading up to 2006.
The loans were quiet substantial and so was the payment protection they added on each loan. The total payment protection I had totalled over £12000.
Each amount was added on top on the loan and the cover only lasted for 5 years, the loan period was for 20 years.
At the time I had a good pension from the NHS for 32 years service, which I get every month for life and I am also taking tablets for blood pressure problems. I did explain this when taking out the original loan.
I have all the original paper work to prove the ppi amounts etc..
I have put in a complaint all ready but I just wanted to know of some of you guys on here, if I have a good case or not?
Many thanks

PPI on a secured loan is important because of the potential risk if you lose your job.

However, an NHS employee would get six months full pay and six months half pay if illl and, after 32 years service, an enhanced pension based on actual service plus six and two thirds years (to a maximum of 40 years total).

In addition, only having five years cover but paying interest on it for 20 years is likely to be frowned upon by FOS.

Your complaint is against whoever sold the policies. You may find that any prior to 14 January 2005 are not covered by FOS but it will cost you no more than a stamp to find out in each case.

magpiecottage

CRAZY:HORSE wrote: »

I had a secured loan on my mortgage with GE Money back in 2003 and a further three re-loans after that leading up to 2006.
The loans were quiet substantial and so was the payment protection they added on each loan. The total payment protection I had totalled over £12000.
Each amount was added on top on the loan and the cover only lasted for 5 years, the loan period was for 20 years.
At the time I had a good pension from the NHS for 32 years service, which I get every month for life and I am also taking tablets for blood pressure problems. I did explain this when taking out the original loan.
I have all the original paper work to prove the ppi amounts etc..
I have put in a complaint all ready but I just wanted to know of some of you guys on here, if I have a good case or not?
Many thanks

PPI on a secured loan is important because of the potential risk if you lose your job.

However, an NHS employee would get six months full pay and six months half pay if ill and, after 32 years service, an enhanced pension based on actual service plus six and two thirds years (to a maximum of 40 years total).

In addition, only having five years cover but paying interest on it for 20 years is likely to be frowned upon by FOS.

Your complaint is against whoever sold the policies. You may find that any prior to 14 January 2005 are not covered by FOS but it will cost you no more than a stamp to find out in each case.

CRAZY:HORSE_2

I know loans.co.uk were fined heavily in the past and were told to pay up customers who were wronged but do you know if they were part of any voluntary regulation pre 2005? Many thanks

Jo_S29

As the original poster, I thought I would update the thread. I did send the forms and documents to the insurer/bank, however partly because the original policy was taken out such a long time ago, it was very complicated and I did eventually have to ask the Financial Ombudsman for help. The ombudsman service was fantastic, they kept me informed of their progress throughout. It has taken many months, but the claim was upheld and has now been settled. It has been time consuming, frustrating and stressful, and I wouldn't have been able to do it without the help of the ombudsman, but I am glad I persevered and am obviously very pleased with the positive outcome.