Unsure if I can claim

amy

Hi sorry all, I’m after some advice. I moved house in 2005 and sorted my mortgage through a broker with The Mortgage Works. He also arranged ppi and house insurance through Leagal & General. I distinctly remember asking him if it was necessary for the ppi and he told me it was in order to secure the mortgage. That TMW would want some kind of gatee guarantee that they’d get their payment if we were unable to make it. My husband was self employed so I believe the policy was useless. We paid it until around 2013. Is it possible we can make a miss sold claim? Thanks!

[Deleted User]

Doesn't sound like PPI. More likely MIG.

amy

Moneyineptitude wrote: »

Doesn't sound like PPI. More likely MIG.

I think it was PPI... we had 4 policies as he told us we both needed life insurance too. 😬

-taff

amy wrote: »

Hi sorry all, I’m after some advice. I moved house in 2005 and sorted my mortgage through a broker with The Mortgage Works. He also arranged ppi and house insurance through Leagal & General

This sounds like you were 'paying' for his advice by purchasing insurance through him so he received the commission

.

amy wrote: »

I distinctly remember asking him if it was necessary for the ppi and he told me it was in order to secure the mortgage. That TMW would want some kind of gatee guarantee that they’d get their payment if we were unable to make it.

This sounds like MIG. Did you have a 100% mortgage?

amy wrote: »

My husband was self employed so I believe the policy was useless. We paid it until around 2013. Is it possible we can make a miss sold claim? Thanks!

We don't know exactly what policies you bought and you say you bought four. Life insurance can't be missold unless you were single, which you were not, with no children and immortal

What policies were they exactly?

amy

The insurance were buildings & contents, a life insurance policy each, and payment protection. I think it was a 95% mortgage if I remember correctly. I don’t know if we were mid-sold and even if we were then if we can claim as it was through a broker not through the insurance company? I’ve just read about it on here and think that it was useless to us as my husband was self employed at the time.
Thanks!

dunstonh

I’ve just read about it on here and think that it was useless to us as my husband was self employed at the time.

Most MPPI does cover the self employed. Did yours?

amy

Ah really. That’s what I’ll need to find out I guess. I didn’t know it covered self employed people. I thought I read this wasn’t the case on here.

dunstonh

amy wrote: »

Ah really. That’s what I’ll need to find out I guess. I didn’t know it covered self employed people. I thought I read this wasn’t the case on here.

The MSE article says the following:

Providers have different definitions, so it's important to examine your policy in detail. If you're self-employed, check whether your specific set-up is covered.

[Deleted User]

amy wrote: »

I think it was a 95% mortgage if I remember correctly.

That would make a Mortgage Indemnity Guarantee (MIG) very likely. Is that what you are mistaking for "payment protection"? MIG protects the lender, not you, and so cannot be mis-sold.

Misslayed

:Please press :spam:

amy

I’ve contacted L&G to Clarify what I actually had and what would’ve been covered. Thanks guys x