PPI offer

Claire_Roberts_1

I have paid PPI premiums for 14 years along side my Halifax mortgage at £50 per month.
Like everyone else this has been paid unknowingly.
Stanton Fisher took up the claim and almost a year later I have received an offer from the Halifax of £1350.
This is the bank's first offer despite the letter stating it is their 'final offer'.
Premiums paid over this period amount to around £8.5k not including interest.

Is this as good as it gets or should I not accept?

Browntoa

Was it all for PPI ? Was an element for life insurance ?

BooJewels

Chances are, as Browntoa said, if it was a mortgage protection plan it included other forms of cover too. Mortgage packages can also cover life and critical illness/terminal illness.

Only the monthly payment protection aspect for sickness or unemployment is actually PPI and therefore only part of your total premiums paid would be refunded.

Did you make any claims on the policy during its life as these are deducted from the redress too? However £1350 sounds a bit less than I might have guessed for 14 years. But the letter will detail exactly what they're paying back.

Don't forget that if someone acted for you, they're going to want their percentage from your redress too, so you're going to lose a chunk of the payment, so don't spend it all.

Nasqueron

Claire_Roberts_1 wrote: »

I have paid PPI premiums for 14 years along side my Halifax mortgage at £50 per month.
Like everyone else this has been paid unknowingly.
Stanton Fisher took up the claim and almost a year later I have received an offer from the Halifax of £1350.
This is the bank's first offer despite the letter stating it is their 'final offer'.
Premiums paid over this period amount to around £8.5k not including interest.

Is this as good as it gets or should I not accept?

Halifax has a multi-part plan of MPPI, life insurance, buildings insurance etc that you agreed to take out when you got the mortgage, it was not paid unknowingly.

Halifax tend to roll over on the MPPI part which they have paid back. You will not get any more payments for life / illness cover unless you can prove you are immortal and are immune to illness

BooJewels

Nasqueron wrote: »

Halifax has a multi-part plan of MPPI, life insurance, buildings insurance etc that you agreed to take out when you got the mortgage, it was not paid unknowingly.

I never know quite why so many people claim this in this forum, as whilst I've had PPI on many products and the ones I made a complaint about was because we were forced to take it and maybe missed the opportunity for better terms elsewhere. But in every case, I knew I had it from day 1. On loans it's itemised separately in the payment schedule on your paperwork, credit cards it's a separate transaction on the statement and for a Halifax mortgage, mine has certainly always been paid as a totally separate item with its own direct debit. My buildings insurance however was part of the mortgage payment when I had it.

Maybe most people don't read important financial papers or don't monitor their bank accounts - if mine doesn't balance by a penny, I know about it.

dunstonh

Like everyone else this has been paid unknowingly.

That is not the case. Most MPPI sales are not complained about. Most MPPI is regular monthly direct debit from the current account. So, you can hardly say you didnt know about it.

Halifax's application included GP details and medical questions. How did they know about those unless you told them?

Halifax retailed a multi-segment policy that could include non PPI elements. Life assurance & critical illness cover for example. So, the MPPI would have only been a part of the premium. Halifax pay up easily on PPI. Shame you used a claims company really as Halifax are a soft touch. However, they will only refund the PPI element. Not the non-PPI side.

BooJewels

dunstonh wrote: »

Halifax's application included GP details and medical questions. How did they know about those unless you told them

I've had several policies with Halifax and we've never been asked for GP details other than when making a claim. They certainly asked medical questions when setting it up (for pre-existing conditions, smoking status etc.), but not the doctor and didn't write to the docs for information when taking policies out initially, although I know some companies do.

dunstonh

BooJewels wrote: »

I've had several policies with Halifax and we've never been asked for GP details other than when making a claim. They certainly asked medical questions when setting it up (for pre-existing conditions, smoking status etc.), but not the doctor and didn't write to the docs for information when taking policies out initially, although I know some companies do.

On the TMPP with life assurance, CI or income protection segments included, they did ask GP and medical details.

On the plain PPI only policies, they didnt.

BooJewels

dunstonh wrote: »

On the TMPP with life assurance, CI or income protection segments included, they did ask GP and medical details.

I have a Halifax TMPP policy - as you may remember from my other threads, we're in the process of a critical illness claim on it - and we definitely haven't given GP details on the setting up of the policy and they didn't consult the docs before commencement of the policy. We answered some medical questions - like do you smoke or have you ever been advised by medics to reduce alcohol consumption - but they have only ever asked for our doctors details when making a claim.

dunstonh

I have a Halifax TMPP policy - as you may remember from my other threads, we're in the process of a critical illness claim on it - and we definitely haven't given GP details on the setting up of the policy and they didn't consult the docs before commencement of the policy.

They only consulted the GP at the start if the medical questions led them to need more information. Pretty much standard across the board. Over 90% of applications do not go to the GP. They should have asked your GP details. However, it may have been a single sentence that you have forgotten. i.e. what surgery are you with. No more than that. When you had gone, they would write in the address of the surgery. It is more difficult to remember questions asked in a conversational style than a blunt Q&A style. So, maybe you dont recall it as it just flowed as part of the conversation and wasnt dwelled on.

BTW, let us know when you get the claim outcome. Hopefully, it will be soon seeing as you got past that last blocker.

BooJewels

dunstonh wrote: »

They should have asked your GP details. However, it may have been a single sentence that you have forgotten.

I'm pretty sure that they didn't. She gave us a print of the 'application' form at the time to check over and I still have it - I know that it's the right print as her laser printer had a fault and was putting a great black streak at the top of each sheet and I still have those pints. No GP info and no space for it.

BTW, let us know when you get the claim outcome. Hopefully, it will be soon seeing as you got past that last blocker.

Thanks. I'll update my thread with any developments. It should be any day now. They don't ring you however, you have to wait for a letter and they take well over a week to arrive. They've said they'll email it to me as well, but 'forgot' with the last one they sent. So I'll ring on Friday for an update if I haven't heard by then. A deadline is looming for my husband to make treatment decisions and this outcome is critical to his choices.