Making a PPI claim for old mortgage

Tom_Coin

Thank you for your reply. It is helpful, as this is not an area where I have any expertise or prior experience. I can completely agree that if this was a formalised condition of the policy then so be it. But how might I check this? - as it may have simply been a non-linked, and commission-driven activity by the building society branch at that time?.
Any other thoughts would be appreciated. Note: this relates to a mortgage with Britannia BS in 1990 and a remortgage with the same in 2007.
Kind Regards, Paul

dunstonh

Tom_Coin wrote: »

I have just registered to join this forum so that I could ask about a policy related to my mortgage,
though having read the answers it seems that I am probably not going to have a case for a claim. Though it does seem that there are some double standards at work here?..
I cannot understand the difference between a company forcing me to take out a protection insurance on say a credit card, and my building society in effect forcing me to take out an expensive life policy to cover the value of the loan (when they already own the asset).
Many thanks for any clarification on this position from anyone in the know!
Kind Regards,
Tom

You need to understand that the processes in the sale are different and the eligibility issues are as well. Also, that complaints alleging wrongdoing in respect of what was said verbally normally fail on that point due to lack of evidence. In that case, the complaint moves onto the overall scenario and whether there was any other wrongdoing. Credit card PPI has poor audit trails, the product isnt great and the sales processes were not that robust in many cases. Life assurance on the other had has no issues over eligibility, it is easy to understand and for most mortgage holders, it is needed from a financial point of view.

If the lender insisted on life assurance as a condition of borrowing (which many did until late 90s/early 2000s) then it doesnt matter what you think. It was a condition of borrowing and your choice then was to accept it or not borrow money with them.