Morgage PPI

anoif99

Hi, I was considering claiming on a morgage PPI I believe I was mis-sold but MSE seems to only mention bank accounts, loans etc but not morgages. Are morgage PPIs considered different to other PPIs? Is there advice somewhere else on this that I have missed!
Thanks!

[Deleted User]

The complaint process is exactly the same for all PPI policies. MSE does mention mortgages too.

dunstonh

Are morgage PPIs considered different to other PPIs?

MPPI is a form of PPI. It suffers less problems than loan and credit card PPI and is one of two types of PPI still sold today. The complaint uphold rate on MPPI is far lower than loan PPI.

Is there advice somewhere else on this that I have missed!

First thing to consider is whether you have grounds for complaint or not. There is nothing wrong with having MPPI. So, why do you think yours may be missold?

anoif99

Hi, Thanks for info.

I feel I was mis-sold as I had excellent Redundancy and Sickness cover in my employment conditions which would have covered me for that period. I was never asked about this and also believed it was essential to taking out the morgage.
I'm still unclear why reclaiming success is lower than other PPIs if the rules are the same?
Cheers

[Deleted User]

anoif99 wrote: »

I'm still unclear why reclaiming success is lower than other PPIs if the rules are the same?

Because whereas your sickness cover may have been appropriate for a £200 credit card bill, it may not have stretched to covering a 25 year mortgage, in the tens or hundreds of thousands of pounds.

anoif99

Hmmm, I think the ppi only covered my morgage repayments for the year tho. Not full repayment of the morgage.

[Deleted User]

anoif99 wrote: »

Hmmm, I think the ppi only covered my morgage repayments for the year tho. Not full repayment of the morgage.

PPI is only ever designed to provide short term cover. You can't complain because it wouldn't have paid off your whole mortgage!:eek:

anoif99

Sorry, i think i musunderstood, new to all of this! My thoughts are tho that my sick covered me for a year, any redundancy would have been high due to length of service so i didn't really need ppi? Does that make sense? Thoughts anyone?

[Deleted User]

anoif99 wrote: »

My thoughts are tho that my sick covered me for a year, any redundancy would have been high due to length of service so i didn't really need ppi?

Redundancy is never guaranteed unless you work for the Police etc.

Look for other complaint reasons...

anoif99

Haha, no i didn't mean that. I amnt complaining about that!:)

anoif99

I did have guaranteed redundancy....honest!:)