Potentially claiming for old (pre 2005) PPI - absolutely lost!

xxRichardVxx

Ha! Yes I can see your point there, but we all have different skills. I am honestly trying to work my way through this as best I can, and I appreciate peoples patience :-)

So for anybody still with me (I'm not a lost cause, honest) I have my schedule of cover here for the Zurich Policy, please could someone tell me if this is PPI or not (it seems to match the definition)?

Mortgage Payment Protection Policy (July 2004)

Total Monthly Benefit £xxx (the benefit split was 50/50 with my wife)
Cover Selected: Accidental and Sickness 12 months, Unemployment 12 months,
Initial Exclusion of 120 days

So.... If this IS PPI can someone tell me if my wife and I need to "complain" individually due to the 50% / 50% split?

Also, this was sold as a package from a broker who sold me a mortgage and a life assurance policy in addition to the mortgage protection above, who would my complaint be with? The broker or Zurich (or no one).

Thank you!

Edit: Aha! Found this thread which sheds some light. MPPI vs PPI (doh). My broker is no longer trading so this is a non-starter it seems forums.moneysavingexpert.com/showthread.php?t=4056073

dunstonh

My fault. I misread the earlier post. I had it in my head that it was their adaptable life plan. Sorry.

However, the plan in question was monthly premium and standalone. So, it was set up correctly. So, that eliminates any product issues. What exactly is the complaint reason?

xxRichardVxx

Hi dunstonh,

No need to apologise, I'm confusing myself here! The fog is slowly lifting though

The complaint would be with the broker who sold me the mortgage and 3 Zurich plans, life assurance, MPPI and something else I can't find details on but is on a bank statement from that time (3 separate payments). He was extremely pushy. I can find no evidence that he told us he would be paid a commission or that the various covers were optional.

As he is no longer trading (I've checked companies house) I have come to the conclusion I can't take that one any further.

Should I persevere with the Abbey complaint though? It was sold as a "package" on a 100% mortgage (our first mortgage). There was no suggestion it was optional and the literature and correspondence I have from that time appears quite manipulative. We were never told that such cover was available from a third party either.

From the research I have done in the last few hours, MPPI complaints have a much lower success rate than PPI is that correct? Do I stand a chance of getting anything from Santander?

Thanks

[Deleted User]

xxRichardVxx wrote: »

We were never told that such cover was available from a third party either.

There wasn't and has never been any requirement for customers to be told that they can take out insurance elsewhere...

magpiecottage

If Abbey did not sell you the policy they can't have missold it.

However, it sounds like the broker MAY have been a member of Zurich Advisory Network and it MIGHT be worth exploring that.

Don't get your hopes up, though. He may not have been a ZAN member and in 2004 there was no need to be for mortgages or PPI.

Even if he was, you still need to show that the PPI was actually missold. Generally speaking, this is difficult for mortgage PPI because, as the saying goes, your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.