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haifax paid my PPI then St James?
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savvy369
Posts: 4 Newbie
I'm not sure if I have a case? I was a first time buyer if that helps to say in my case?
Just looking through my files the first year of my mortgage for PPI all I can find is the Halifax mortgage letter saying
thank you for applying for a mortgage
"As the loan amount you require exceeds our basic lending limit it is necessary for us to arrange additional mortgage security. you will be advised of the fee in due course. Please note that if you are borrowing less than 90% of the lower of the valuation or purchase price we are currently paying this premium."
Then on the mortgage offer letter At the end of the letter it says
SPECIAL NOTE
We strongly advise you to consider arranging insurance cover to protect your ability to keep up your mortgage repayments if you become ill, lose your job, etc. You can obtain details of such mortgage repayments insurance from from any of our branches or your financial adviser...
Then the halifax letter of acceptance for my mortgage says
an additional mortgage security fee of £419 is also due. We will pay this fee. (explaining that they are lending me more than they normally would and additional mortgage security is required)
But exactly one year after my mortgage I started paying PPI monthly for the next 13 years to St James Place.
So who do I apply to and how do I explain the first year?
any advice gratefully accepted
thanks
Just looking through my files the first year of my mortgage for PPI all I can find is the Halifax mortgage letter saying
thank you for applying for a mortgage
"As the loan amount you require exceeds our basic lending limit it is necessary for us to arrange additional mortgage security. you will be advised of the fee in due course. Please note that if you are borrowing less than 90% of the lower of the valuation or purchase price we are currently paying this premium."
Then on the mortgage offer letter At the end of the letter it says
SPECIAL NOTE
We strongly advise you to consider arranging insurance cover to protect your ability to keep up your mortgage repayments if you become ill, lose your job, etc. You can obtain details of such mortgage repayments insurance from from any of our branches or your financial adviser...
Then the halifax letter of acceptance for my mortgage says
an additional mortgage security fee of £419 is also due. We will pay this fee. (explaining that they are lending me more than they normally would and additional mortgage security is required)
But exactly one year after my mortgage I started paying PPI monthly for the next 13 years to St James Place.
So who do I apply to and how do I explain the first year?
any advice gratefully accepted
thanks
0
Comments
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But exactly one year after my mortgage I started paying PPI monthly for the next 13 years to St James Place.
You send your complaint to St James Place.
Are you sure its PPI and not life assurance, income protection and/or critical illness cover.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 -
What do you think has been done wrong, when and by who?0
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ok it says term protection plan and includes critical illness and death, so its not PPI then thanks, you've saved me some work0
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The £419 sounds like a mortgage indemnity guarantee (MIG) premium.
That means the Halifax said "if you want to borrow that much you must buy us an insurance policy in case we do not get all of it back".0
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