Will PPI claim affect mortgage?

Scisorman

I have had some good success with claiming PPI on old credit cards, and now I'm looking at my mortgage lender. In the 90's I had several loans and credit cards with them, all of which had PPI. I have paperwork and agreements to confirm this.

When I first approached them I hadn't found the paperwork. They conducted a search and couldn't find any record of the loans or credit cards. They told me that after 6 years these records may be destroyed. Now I have found the proof of the PPI they are asking me to send copies in.

My big worry is that back in the late 90's I got into some financial trouble after illness and ended up paying off the cards after I was defaulted on them. The insurance wasn't honoured as they claimed the illness wasn't covered in the insurance.

3 years ago I got my mortgage with this lender. I'm now worried that if I pursue the PPI claims they will look at my mortgage and stop it or suchlike because of my problems years ago. Is that possible?

[Deleted User]

It's more likely that any redress (should you be awarded it) would be offset against any monies written off as part of your default.
I wouldn't concern yourself about your current mortgage, that won't be affected.

Nasqueron

Scisorman wrote: »

I have had some good success with claiming PPI on old credit cards, and now I'm looking at my mortgage lender. In the 90's I had several loans and credit cards with them, all of which had PPI. I have paperwork and agreements to confirm this.

When I first approached them I hadn't found the paperwork. They conducted a search and couldn't find any record of the loans or credit cards. They told me that after 6 years these records may be destroyed. Now I have found the proof of the PPI they are asking me to send copies in.

My big worry is that back in the late 90's I got into some financial trouble after illness and ended up paying off the cards after I was defaulted on them. The insurance wasn't honoured as they claimed the illness wasn't covered in the insurance.

3 years ago I got my mortgage with this lender. I'm now worried that if I pursue the PPI claims they will look at my mortgage and stop it or suchlike because of my problems years ago. Is that possible?

Any money (including interest) written off as part of a debt plan can be offset against any refund, after that they will refund any money due.

Any refund would be done on the basis of your records including an average spend refund based on the records you have if they do not have copies left

The only danger would be a time-bar on your complaint given you tried to claim back then so that would have been the time to complain when it didn't pay out, the bank could use the 3 year rule on this - you get 6 years from point of purchase and 3 years from the time you knew you had a complaint reason - whichever is longe.