PPI confusion

cmoori

I am confused over who I can claim PPI from. I was advised by a financial advisor regarding available mortgages and was told to take insurance out to protect that mortgage. Is it the mortgage provider or advisor?

[Deleted User]

If you need to make a claim on the PPI, then you would need to contact the insurer.

If you have a mis sale complaint, then it's whoever sold it to you - eg the advisor.

dunstonh

cmoori wrote: »

I am confused over who I can claim PPI from. I was advised by a financial advisor regarding available mortgages and was told to take insurance out to protect that mortgage. Is it the mortgage provider or advisor?

Advisers account for under 1% of PPI complaints and the majority of those get rejected. Most MPPI complaints get rejected too. The PPI issue is not seen an adviser failure. it is seen as a bank failure.

Unlike banks, there are no consequences for the staff that sold PPI. However, if you make a complaint against an adviser, there are consequences. even if the complaint is rejected. I have known advisers in tears because of complaints made against them.

If you have a valid complaint, then fine. Make that complaint. However, if its a try-it-on complaint think seriously about what you are doing as you will be making an adviser's life misery and creating them costs and small local businesses employing local staff are not set up to cover those sorts of losses.

magpiecottage

cmoori wrote: »

I was advised by a financial advisor regarding available mortgages and was told to take insurance out to protect that mortgage.

That sounds sensible. After all if you had been unable to meet repayments on your mortgage you could easily have ended up thrown out of your home.

So what exactly is your problem?

Billyliz16

I have been told you can claim ppi on store cards is this true

Nasqueron

Billyliz16 wrote: »

I have been told you can claim ppi on store cards is this true

If you had PPI on the card and have a complaint reason, yes you can