Paymentshield, PPI claim?

linky

Hi, we had a financial advisor to help us take out a repayment mortgage in 1997 when it was clear our endowments were not going to pay it off. As part of the service we agreed to take out mortgage payment protection for unemployment only, we didn't fully realise what it was but the advisor was a good salesman and talked us into it. We paid it for a number of years then when we realised what it was we cancelled it, my husband has a very good job with the council and they have a no redundancy policy. Can we claim mis sold PPI or claim under Plevin?
The advisor has recently been struck off for Mis-selling of geared traded endowment policies (“GTEP”) and basically being a bit economical with the truth about their finances following liquidation of their business.
I did try to claim 're the endowments a while ago but as I worked for Prudential and got a staff policy the ombudsman said I should have known the rules, that it might not pay enough in the end, I didn't have a clue I was the receptionist!
Hopefully can claim something now for the PPI? Thanks for any replies.

dunstonh

As part of the service we agreed to take out mortgage payment protection for unemployment only, we didn't fully realise what it was but the advisor was a good salesman and talked us into it.

And he picked a good provider. Paymentshield are well regarded.

my husband has a very good job with the council and they have a no redundancy policy.

No councils have a no redundancy policy.

Can we claim mis sold PPI or claim under Plevin?

No you cant.

1 - its pre-regulation by 8 years.
2 - it was adviser sold so Plevin wont apply.

I did try to claim 're the endowments a while ago but as I worked for Prudential and got a staff policy the ombudsman said I should have known the rules, that it might not pay enough in the end, I didn't have a clue I was the receptionist!

Staff are also usually excluded as they are classed as buying them on a non-advice basis and getting them cheaper.

Hopefully can claim something now for the PPI?

no you cant.

linky

Thanks for the reply.
My Hubble would have taken redundancy if it was allowed! but it's not.

McKneff

How did theyvget rid of staff who had say 10 years service and new technology made their job non existant . They coulnt just sack them .

societys_child

linky wrote: »

Thanks for the reply.
My Hubble would have taken redundancy if it was allowed! but it's not.

They could make him redundant if they wished, however you can't normally just ask for it!