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Mortgage PPI Help Needed
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Rubylot
Posts: 1 Newbie
Approx. 20 years ago we changed mortgage providers, a few months after changing we were contacted to advise us we did not have PPI and we would have to back date the payments to ensure we were covered. We did this as we thought that we had to have it! Roll on some years later and we received a letter asking if the insurance was still needed...this prompted us to cancel the policy as we realised that it was obviously not a compulsory component of the mortgage. Do we have a case to reclaim the PPI. It was cancelled approx 2 years ago and the mortgage has now ended. What would be the best course of action? Thanks in advance.
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Approx. 20 years ago we changed mortgage providers, a few months after changing we were contacted to advise us we did not have PPI and we would have to back date the payments to ensure we were covered.
Who was it contacted you? What was the policy called that you had? Was it a policy that you had on the previous mortgage that had lapsed or was it a new policy that you took out in response to the contact telling you that you did not have PPI - if the latter I'm struggling to understand why you would need to make back dated payments0 -
Do we have a case to reclaim the PPI.
Nothing you have said suggests you do.What would be the best course of action?
As this is MPPI rather than loan or credit card PPI, what action do you think you need to do?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The OP doesn't know, which is why they are asking.
And the OP hasnt told us what they think is wrong which is why we are asking.
It could also be barred from complaint under the 3/6 year rule.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi can I ask my question as I don't know how to use forums. I had PPI on my mortgage and it was only till I had to go to court as my arrears got out of hand that they said we will take the PPI off. I at the time was just glad my monthly payments were reducing but at the time I said I never knew I had it as I would have tried to remove it to help. I am now looking back as I was in so much financial trouble that I took payday loans and it just took me into a vicious circle and got into so much debt. I am know questioning the fact that I was misold it as at the time as I never knew I had it and from that I didn't know it was optional0
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