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Nationwide Mortgage PPI

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Hi, not sure if anyone can guide me but would welcome thoughts. I took out a Capital Replacement mortgage with Nationwide in 1998 and have been paying "PaymentGard" (i.e. the PPI) ever since. I don't feel I need the cover and so was thinking of claiming as they never mentioned it was optional to my memory, and also no mention of commission on the documents I have, so would use these two strands in my claim.


However - here is my worry - if I enter into battle with them, can they get cute and withdraw my mortgage or demand it is paid off?


By the way, I overpaid by £50,000 in 2002 (an inheritance) and have £6,000 left to pay - not sure if that makes any difference but they always put it on the statement as "overpaid".


Any advice welcome. Thanks!

Comments

  • dunstonh
    dunstonh Posts: 116,888 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
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    I don't feel I need the cover and so was thinking of claiming as they never mentioned it was optional to my memory,

    Their audit trail will show it as optional (we know that from their documentation) and unless you have anything to prove otherwise, they will reject tthat particular point of your complaint.
    and also no mention of commission on the documents

    Commission disclosure was not required on general insurance in 1998.
    so would use these two strands in my claim.

    Have you got any proper complaint reasons?

    However - here is my worry - if I enter into battle with them, can they get cute and withdraw my mortgage or demand it is paid off?

    If it was a battle, seeing as most MPPI complaints fail, it woudl be a foolish thing to do. However, it is not a battle. They look at any evidence you supply along with your comments. They look at their evidence and they make a decision. They will either reject your complaint or uphold it or arrange a plevin payout if applicable.
    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.
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