Insurance

Nickyboy99

Hi i'm in the process of claiming PPI back from our mortgage Co, but my question is do i complain to them separately (not sure best route to take ) because on our return from working abroad neither my wife and i had a job so we used our saving to live, we asked the mortgage Co for a payment holiday they refused, but it turns out that we had PPI with them which they failed to mention that we could have used, hence the PPI claim, is the PPI claim enough or should i also make a separate complaint to the mortgage Co about charging us for PPI which we new nothing about and then when we could have used it failed to mention we had it thus using all our saving up ?

BorisThomson

How did you not know about it, did you never check your statements? Was it not mentioned in the key facts you received when taking out your mortgage?

Why did you return from abroad, would the reason make you eligible to claim on your PPI? Had you declared that you were working overseas?

[Deleted User]

Nickyboy99 wrote: »

on our return from working abroad neither my wife and i had a job so we used our saving to live, we asked the mortgage Co for a payment holiday they refused, but it turns out that we had PPI with them which they failed to mention that we could have used, hence the PPI claim

I'm afraid the PPI would not have covered you in the circumstances you describe. By returning home without a job to go to, you effectively made yourselves unemployed. PPI does not cover voluntary unemployment.

Nickyboy99 wrote: »

should i also make a separate complaint to the mortgage Co about charging us for PPI which we new nothing about

If you do make such a complaint, expect the Bank to produce thorough documentation signed by you indicating that you knew full well about the insurance. It's a myth sponsored by claim companies that PPI was routinely added to loans, credit cards and mortgages without the knowledge or permission of the customer. If you knew nothing of the PPI, that means you'd simply forgotten about it and also didn't read your statements where it would have appeared alongside your mortgage repayment each month.

This thread should be moved to a more appropriate forum. There is no consumer rights issue here.

DoaM

Moneyineptitude wrote: »

If you do make such a complaint, expect the Bank to produce thorough documentation signed by you indicating that you knew full well about the insurance. It's a myth sponsored by claim companies that PPI was routinely added to loans, credit cards and mortgages without the knowledge or permission of the customer.

The reality (as I see it) though is that many financial institutions simply pay out when faced with a claim because it actually works out cheaper to do so than fight it.

agrinnall

Moneyineptitude wrote: »

This thread should be moved to a more appropriate forum. There is no consumer rights issue here.

The Reclaim PPI board would probably be the sensible option :whistle:

[Deleted User]

DoaM wrote: »

many financial institutions simply pay out when faced with a claim because it actually works out cheaper to do so than fight it.

Generally speaking Banks only do auto payouts if the amount in question is below their "floor limit" for such. High value complaints and those (like the OP's) which are easily defended are not simply paid out and are investigated. The majority of complaints about mortgage PPI are rejected and MPPI is still retailed today (unlike loan and credit card PPI).

agrinnall wrote: »

The Reclaim PPI board would probably be the sensible option :whistle:

Since the majority of my posts have been on that forum, I'm certain I don't need to be reminded of that:D