Mortgage protection Insurance

Wiltsmum

We had a 4 year mortgage with C & G for £980,000. We took out MPI as I was self employed. When I couldn't work due to serious illness the policy wouldn't pay claiming they didn't know I was self employed (hogwash as 2 years accounts for the loan). We sold the house in 2006 with no monies owing. I am only able to look at this now as my health has improved. Worth trying to claim or am I time barred?

Nearlyold

Was it C & G who sold you the PPI or did you buy it through a broker/estate agent.

Because it is more than 6 years since you purchased the policy and also more than 3 years since you knew there was a problem with the policy (when your sickness claim was declined) then whoever you complain to could easily time bar your complaint if they wanted to.

NB That was a hell of a mortgage to take out over just four years!! You must have been earning mega bucks.

Wiltsmum

Thank you. mortgage was only held for 4 years as we sold the house. I am not supposed to be here but I am did earn mega bucks. Now very poor! Didn't have the fight in me. New baby and toddler and s**t scared husband. I kept all the paperwork as they wouldn't help us. C & G actually told my husband to keep the policy as I might die! Now not just about the cash it was the principle too.

dunstonh

C & G actually told my husband to keep the policy as I might die!

Mortgage protection insurance is a generic term covering any insurance that covers a mortgage. Was the plan a life assurance? Only life assurance pays out on death. Not MPPI.

Wiltsmum

No definitely MPI. We had life insurance separately. My husband dealt with this at the time, was scared and didn't know what to do. Baby as I said, a sick wife and a mother in law who had just died. We sold the house at a loss to us (not the bank). I have all the paperwork.

Wiltsmum

Thank you for the replies. Not only a MPI claim but for loss so has gone to the solicitor. When I was ill they wouldn't pay so we sold our house at a loss. Much more complicated than straight MPI I am told. But thank you.