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Premium Debit - Mortgage

Lewis1932
Lewis1932 Posts: 2 Newbie
edited 17 June 2018 at 9:45PM in Reclaim PPI & other insurance
Hi
I wonder if anyone can help advise me on what Premium Debits were that appear on an old mortgage statement. Each month Britannia Building Society debited my mortgage account with a £24 'Premium Debit' and a £2 'Premium Debit Tax'.
I can't find any information online regarding 'Mortgage Premium Debits and am at a loss what exactly Britannia were charging me for.

Thanks

Comments

  • dunstonh
    dunstonh Posts: 120,283 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Most lenders stopped collecting insurance premiums via the mortgages many years ago. However, if you havent moved lenders you could still be on an old way.

    It was possible to pay life assurance, MPPI or house insurance via the mortgage in the past. Insurance premium tax means it is either MPPI or home insurance.
    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.
  • Lewis1932
    Lewis1932 Posts: 2 Newbie
    Thanks for the quick reply. It wasn't life or house insurance and it wasn't MPPI - these were arranged with companies independent of Britannia so I can't figure out what the Premium Debit (& tax) each month were.
  • dunstonh
    dunstonh Posts: 120,283 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    it is certainly an insurance. And it would be a general insurance as it has IPT.
    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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