Quick MPPI Question

EdwardJReid

On our first mortgage supplied by Council Home Buyers we has Trident MPPI cover which was front loaded onto the mortgage, Council Home Buyers who where an part of CPIservices who where bought by Wessex group in 2007. Just recently we discovered we had this cover and where not able to claim its as it only covered me and not my wife who was made redundant. Why would a joint mortgage only have MPPI cover on one person. I have emailed Wessex group but so far they have ignored my emails. Any advice.


Thanks Ed

[Deleted User]

Because only one person may have required the cover.

dunstonh

which was front loaded onto the mortgage,

That is classed as a missale in 99% of MPPI complaints. It should be regular monthly premium.

Why would a joint mortgage only have MPPI cover on one person.

by choice (e.g. cant afford to cover both to 100%).

I have emailed Wessex group but so far they have ignored my emails.

Was your policy sold before or after January 2005?

CPIservices who where bought by Wessex group in 2007

According to the FCA register, they only became regulated on 8th Jan 2005 and lost their authorisation in 2008 and were liquidated. This suggests they were not bought but went insolvent.

Wessex group do not appear to have merged with them. They may have bought the ongoing administration but it looks like the liability died with the CPI.

EdwardJReid

Hi Thanks for the replies, We both believed we where covered. We were both working full time we also took our term life insurance with L&G which is a monthly payment to pay off the mortgage if one of us dies as the MPPI says Death, terminal illness, unemployment and disability cover I have checked with L&G them and both of us are covered. The MPPI policy was taken out on 13th Jan 2004 and on the terms on the back of it says if complaints remain unsolved I can approach the Financial Ombudsman Service. so I take it I have been stung for the MPPI which would never have paid out after. The letter from Wessex group was dated 5 June 2007 saying they took over the administration of the MPPI by transfer from CPI Services Limited and says the cover was provided by Amtrust International Underwriters Ltd. based in Dublin. Do you think its worth contact either the Underwriter or FOS. Thanks Ed