genuine claim?

brianm76

Hi, I'm looking for some advice in regards to a PPI issue that I'm unsure how to tackle..
I took out a mortgage when I was 25 based on a 25 year plan,i was advised at the time I had to get life insurance and PPI to borrow the money on the initial 5 year fixed term, I then took out a further 5 year fixed term which reduced my monthly mortgage payments, the following 3 years was variable and I've managed to pay off the mortgage
This is the embarrassing and naïve part! I've just found out I'm still paying the PPI rate to cover the monthly payments from year 1 that I thought expired after my first fixed term was up?!
Obviously I need to cancel the policy ASAP but what if anything am I entitled to for being so thick?!
Thanks,
Brian

Nearlyold

If you paid the PPI by a separate Direct Debit to a different company than for the mortgage payments. the PPI company would have had no idea whether or not your mortgage was paid off, it was up to you to contact the PPI provider to cancel the cover. It would have been very odd to take out PPI or life cover that only lasted 5 years when you had just entered into a 25 year mortgage! So are you "entitled to anything?" in short the answer is No.