PPI when you changed your mortgage lender several times

Lily2014

I was advised to take out MPPI when I got my first mortgage in 1999. This was with Northern Rock, although the advice to take out MPPI was given by a representative of Royal and Sun Alliance as I took out a stocks and shares ISA with them that was intended to be used to pay off my mortgage in due course. My MPPI payments were not to Northern Rock or Royal and Sun Alliance but to Norwich Union (Aviva). I later switched my mortgage to The Woolwich, then remortgaged with a better-deal Woolwich mortgage, and switched again to a mortgage from the Bank of Ireland. I continued with my monthly MPPI payments to Norwich Union all this time. In 2009 I switched yet again (always looking for a better deal) back to the Woolwich (under Barclays) and at this point stopped paying the MPPI payments.

My question is - whom should I pursue for a missold PPI claim? Northern Rock? Royal and Sun Alliance? Norwich Union? The Woolwich? Bank of Ireland? Barclays? All or none of the above?!?!?!?

(Happily I was able to redeem my mortgage in 2015 so am now mortgage-free).

[Deleted User]

If you have reason to believe you were mis sold PPI, you complain to the seller.

Do you have mis sale reasons?

McKneff

And why do you think you were miss sold.

Nasqueron

MPPI is a good product that can help save your home if you are unable to pay the bills through sickness or unemployment.



With it being cancelled in 2009 you could expect a rejection on time bar rules (3 and 6 year are met) if they don't choose to defend on the grounds that you almost certainly needed it.

-taff

Lily2014 wrote: »

This was with Northern Rock, although the advice to take out MPPI was given by a representative of Royal and Sun Alliance.

You complain to whoever sold it to you so that would be the ones in bold. What are your complaint reasons? And if it was cancelled in 2009, they may well have deleted your info, as they are supposed to do, so do you have your own evidence?


Just thought, you say the advice was given by the rep from RSA, does that mean they actually sold you the MPPI, or does that mean you shopped around and bought it yourself?

dunstonh

My question is - whom should I pursue for a missold PPI claim?

Nobody based on what you said as you bought using a third party broker in 1999. Brokers were not regulated for insurance until Jan 2005. So, they dont have to consider your complaint. The lenders had nothing to do with it. So, they dont come into it. You dont have access to the FOS or FSCS as it is pre-regulation.

However, I do wonder if you actually had MPPI? Aviva are not known for retailing MPPI. More commonly they issue life assurance, Critical illness cover and PHI. Are you sure you had MPPI?

Plus, a Royal & Sun Alliance rep retailing the products of another insurer is very rare. Why did they not retail their own product?

On the plus side, broker-sold MPPI accounts for under 1% of PPI complaints and the majority that are considered are rejected. So, even if it was post regulation, statistically, you were unlikely to be have been missold. PPI is generally not seen as a broker issue. More a bank issue. Indeed, you can still buy MPPI via brokers today.

Lily2014

Thank you to everyone who has replied so far. I see that "thanks" somehow get tallied but i can't see where to add a "thank" to the tally of those that have replied! OOPS! I've just worked it out! All duly thanked!

Anyway - the overall impression seems to be that any claim I made would be unsuccessful. I do have the evidence - paperwork from Norwich Union with a policy number, and a leaflet from Royal and Sun Alliance's "Mortgage Advice Bureau" about their Mortgage Payment Protection Insurance which states that their insurance is provided by Norwich Union(?!?!?!). But your replies seem to indicate that MPPI was possibly a good thing to have ....?????

[Deleted User]

Lily2014 wrote: »

I do have the evidence - paperwork from Norwich Union with a policy number, and a leaflet from Royal and Sun Alliance's "Mortgage Advice Bureau" about their Mortgage Payment Protection Insurance which states that their insurance is provided by Norwich Union

You don't need evidence so much as someone to complain to. You purchased the insurance from a third party broker who was not regulated at the time.

Alliejay wrote: »

your replies seem to indicate that MPPI was possibly a good thing to have

You don't get a refund of PPI simply because you had it. In order for it to be refunded you have to show that it was somehow mis-sold to you. In your case, though, there is no one to complain to so whether you were mis-sold is irrelevant.

Mortgage PPI is indeed still retailed today, unlike the Loan and Credit Card variety.