PPI on Mortgages

Gloryb

I'm afraid I'm new to this and I don't understand the system. Please may I ask a question regarding how the PPI on a mortgage is calculated. Does the Building Society base it on the amount borrowed and the length of time over which the borrower is going to repay it? If the borrower repays early, are they due a refund on the PPI they have paid?

McKneff

There is a difference between PPI and MPPI.
If you had lost your job, or become ill and no salary, how would you have paid your mortgage.

You dont get a refund of PPI on anything. You make a complaint, of miss selling, back that complaint up with proof of miss selling.

You dont get it back just because you paid it, it is an insurance of sorts.

Gloryb

Please can you tell me how to log out? I can't see what to click on. Sorry

Nasqueron

Gloryb wrote: »

I'm afraid I'm new to this and I don't understand the system. Please may I ask a question regarding how the PPI on a mortgage is calculated. Does the Building Society base it on the amount borrowed and the length of time over which the borrower is going to repay it? If the borrower repays early, are they due a refund on the PPI they have paid?

MPPI is based on how much you borrow as it's intended to cover your monthly payment (like how your insurance for your car needs to cover the replacement of your car).

If you repay early you can stop the MPPI but it's generally done as a monthly fee rather than a lump sum up front so you can cancel it whenever - there would be no refund.

To log out, look top right near the picture of the forum team (4 women) and just to the left is "Log Out" in white on a green background

Gloryb

I'm so sorry Nasqueron, but on my screen the Forum Team is only half way up the side and they are two women and a man.

Gloryb

I'm sorry, but I still can't log out because the Forum Team on my screen isn't at the top right and it doesn't show 4 women, only 2 women and a man and there's no green background with Log Out in white.

societys_child

There's a newer version of the forum, you must be using that. Many of us prefer the old version, it must display differently.

Log-out must be somewhere near the top I'd have thought. (unless MSE has started holding posters captive)
You can enter, but you can never leave :eek:

Edit: My avatar won't log you out - it's a fib . . .

Gloryb

This truly is so awful I wish I'd never joined. I can't log out and I don't know what to do. Isn't anyone on the new site who can help me? I'm not a computer person.

[Deleted User]

Gloryb wrote: »

This truly is so awful I wish I'd never joined. I can't log out and I don't know what to do. Isn't anyone on the new site who can help me? I'm not a computer person.

Just quit and never return to the site.

There is a BIG RED BUTTON marked "LOG OUT"

It really is that easy.
I have no idea what you find so "awful"

dunstonh

Whats more awful is that Martin seems to have been on TV slagging off MPPI without any clarification given to MPPI being more important to have. Or the fact that most MPPI complaints are rejected and that many of them were sold via decent distribution channels and not the banks.

I feel sorry for some of the mortgage brokers and IFAs that are going to get try-it-on complaints because of this and suffer the costs and anguish that goes with it (unlike the banks where the staff are not informed).

-taff

there is a circle to the top left with your name near it, or on it and the shape of a blank head. |Click on it, and scroll down to the bottm bit which says 'log out' in red letters.