Halifax Mortgage PPI

goldenicon

Hi,

I have been trying to help my elderly mother claim back PPI on a mortgage she had with the Halifax from 1997 to 2012.

We filled in the questionnaire and had a telephone interview with the claims handler.

She received a letter outlining her complaint for PPI has been rejected, however they admit that she may have not been informed on the undisclosed commission and profit share payable on PPI premiums of more than 50% at the time of sale and likely created an Unfair Relationship.

They have offered her £279.87.

Should she accept or take it to the ombudsman?

Halifax have provided info for escalating the case to the ombudsman.

As she is 80 her memory is not at best and can't remember her salary details and savings at that time to show that PPI was not needed. I was just wondering if she should get a SAR from her bank to help with her case?

Halifax did ask about salary and savings and we gave them an approx salary that a lady in her professional capacity would have received back then.

Thank you.

dunstonh

Should she accept or take it to the ombudsman?

Most MPPI complaints fail (both at the lender and at FOS). So, that outcome with MPPI should always be expected.

The FOS is not a consumer champion and there is nothing wrong with MPPI (you can still buy it today). The FOS is an independent adjudicator. It makes sure the response is correct if you feel it is wrong.

So, what was the complaint reason?
And what in their rejection do you think was wrong and requires the ombudsman?

goldenicon

dunstonh wrote: »

.

So, what was the complaint reason?
And what in their rejection do you think was wrong and requires the ombudsman?

The reason was to know if she had been mis sold ppi as the mortgage was in joint name but she was only one in full time employment and was post stroke recovery. We just wanted to see if she had a case.

For the amount of the mortgage paid, it seems that the offer is low but that maybe what the offer should be?

Just seeking advice to see if it is worth taking it further or not.

Thanks.

dunstonh

For the amount of the mortgage paid, it seems that the offer is low but that maybe what the offer should be?

It is not the mortgage amount. It is the PPI amount and its only if the commission and profitshare is above 50%. And then you only get the excess above 50%. Most MPPI is way below the 50% level and its only the profitshare that is taking it above. So, you wouldnt expect much.

goldenicon

So, claiming back MPPI is not as successful as loan or credit card PPI and is not seen as mis sold?

dunstonh

goldenicon wrote: »

So, claiming back MPPI is not as successful as loan or credit card PPI and is not seen as mis sold?

Nowhere near in volume. Any product can be missold. Some have higher rates than others. MPPI has a low missale rate in terms of PPI.

Credit card PPi and loan PPi you cannot buy today. All the bad types have gone. MPPI (and regular premium PPI) is still available.