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Ppi reclaims

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I took out my mortgage ppi from a broker, so I guess that rules me out for any claim.

In 2014 when I lost my job, I figured OK, let's see if I can start claiming anything. I didn't realise the darn thing kicked in after 3 months. Not helpful at all. Cancelled the thing as soon as possible. I can't recall if this was explained over the phone but, my money was not put to good use. Do ppi claims cover the type of policy sold?
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  • dunstonh
    dunstonh Posts: 116,707 Forumite
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    I took out my mortgage ppi from a broker, so I guess that rules me out for any claim.

    You mean complaint. No it doesnt but mortgage brokers account for under 1% of PPi complaints and they retail MPPI. A type of PPI that has low volumes of complaint and sees most complaints rejected. You can still buy MPPI today. Anything can be missold. So, its possible. Just less likely.

    Plus, most mortgage brokers were only regulated since 14th Jan 2005. The PPI issue was known by 2008. So, the window is small and you would expect post 2008 sales to be better quality (but again, its statistical not absolute).
    In 2014 when I lost my job, I figured OK, let's see if I can start claiming anything. I didn't realise the darn thing kicked in after 3 months. Not helpful at all.
    That is pretty standard across the board. You can pay more to get back to day 1 cover or plans with 2 months but all have a period to wait. It would be too expensive otherwise.
    Do ppi claims cover the type of policy sold?

    Any product can be complained about. Although you havent given a reason for complaint yet.
    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.
  • Amandaluke
    Amandaluke Posts: 11 Forumite
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    Hi there , I am trying to find out if I have a claim , does anyone know what asu is? I did my mortgage with a broker who came to my house, he was from mortgage advice and practice, firstly he said it was a free service and he knew we wanted to get every thing sorted as quick as poss as I was expecting my second child. He said it was a free service, on looking back o we the paper work that are 2 figures that had been added to the mortgage, 1. Broker fee for 2228.00 and 2. Asu policy 5334.00 . I did a few years ago try to make a claim however was unsucsessfull as it came back they were no longer training, was advised to go to the osbumun but this came back that they had changed names , I tried with the new name but had no luck then just gave up as didn't have time and due to constantly hitting brick wall . Is it worth trying to go through a PPI claim company? He never told us it was an optional payment and I don't actually remember any thing been said about either payment that was added to the policy. I do remember some insurance policy coming through the door but it said it was a monthly payment we were having to pay so we cancelled it . So I have no idea what the 5grand was for. Any help would be appreciated. Thank you
  • Nasqueron
    Nasqueron Posts: 9,082 Forumite
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    edited 20 May 2018 at 10:59AM
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    Amandaluke wrote: »
    Hi there , I am trying to find out if I have a claim , does anyone know what asu is? I did my mortgage with a broker who came to my house, he was from mortgage advice and practice, firstly he said it was a free service and he knew we wanted to get every thing sorted as quick as poss as I was expecting my second child. He said it was a free service, on looking back o we the paper work that are 2 figures that had been added to the mortgage, 1. Broker fee for 2228.00 and 2. Asu policy 5334.00 . I did a few years ago try to make a claim however was unsucsessfull as it came back they were no longer training, was advised to go to the osbumun but this came back that they had changed names , I tried with the new name but had no luck then just gave up as didn't have time and due to constantly hitting brick wall . Is it worth trying to go through a PPI claim company? He never told us it was an optional payment and I don't actually remember any thing been said about either payment that was added to the policy. I do remember some insurance policy coming through the door but it said it was a monthly payment we were having to pay so we cancelled it . So I have no idea what the 5grand was for. Any help would be appreciated. Thank you


    Free advice from a broker means they are paid commission and this is perfectly fine so long as the policy is suitable for you, you cannot complain about this as it was not optional, if you rejected it, you would have had to pay a fee to avoid commission


    Your complaint is over anyway, you complained, were rejected and FOS confirmed it was a valid rejection so your complaint will be time barred even if it was a valid complaint (which it isn't).


    A claims firm has no powers that you don't, they can't magic up a new complaint and will almost certainly bill you for wasting their time when they realise you have already complained and been rejected.


    ASU is accident/sickness/unemployment, a general policy that covers your mortgage if you can't work. It's a good thing to have as it can save your home if you lose your income.
  • Amandaluke
    Amandaluke Posts: 11 Forumite
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    But I have paid a fee too 2228.00 fee and 5334.00 asu xharge
  • Amandaluke
    Amandaluke Posts: 11 Forumite
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    I also worked for the bus so got full sickness benafits
  • Amandaluke
    Amandaluke Posts: 11 Forumite
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    Nhs not bus
  • Amandaluke
    Amandaluke Posts: 11 Forumite
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    Fso didn't reject the claim they came back saying the company had not ceased traiding they had just changed their name and to try to claim against the new name but when I did I just never got any thing back from them .
  • Amandaluke
    Amandaluke Posts: 11 Forumite
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    In total over 7500.00 was added to an 80grand mortgage .
  • Amandaluke
    Amandaluke Posts: 11 Forumite
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    Nhs not bus
  • dunstonh
    dunstonh Posts: 116,707 Forumite
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    Amandaluke wrote: »
    Hi there , I am trying to find out if I have a claim , does anyone know what asu is? I did my mortgage with a broker who came to my house, he was from mortgage advice and practice, firstly he said it was a free service and he knew we wanted to get every thing sorted as quick as poss as I was expecting my second child. He said it was a free service, on looking back o we the paper work that are 2 figures that had been added to the mortgage, 1. Broker fee for 2228.00 and 2. Asu policy 5334.00 . I did a few years ago try to make a claim however was unsucsessfull as it came back they were no longer training, was advised to go to the osbumun but this came back that they had changed names , I tried with the new name but had no luck then just gave up as didn't have time and due to constantly hitting brick wall . Is it worth trying to go through a PPI claim company? He never told us it was an optional payment and I don't actually remember any thing been said about either payment that was added to the policy. I do remember some insurance policy coming through the door but it said it was a monthly payment we were having to pay so we cancelled it . So I have no idea what the 5grand was for. Any help would be appreciated. Thank you

    You are now barred from complaint having previously tried and failed.

    You didnt need 6 posts to write a few words. There is an edit button to add info.

    FOS routinely rejects complaints from NHS workers when it comes to mortgage-related insurance. This is not like loan or credit card PPI.

    That said, you probably were missold. Single premium MPPI is regarded as wrong in over 98% of complaints. it should be regular premium (monthly direct debit). If you bought before 2005 then its game over. If you bought after 14th Jan 2005, then you can complain to the FSCS.
    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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