MPPI claim problem

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Hello font of all knowledge. I’m really really hoping you lot can help me. My story I’d this. Back in 2001 I purchased my first home. At the time I had a private mortgage broker. This mortgage was with northern rock. At the time I HAD to tAke out MPPI. Which I questioned at the time as it was a lump sum. Also told I had to have it and had no choice. I wS not happy. Anyway. I’m trying to claim this back but keep hitting brick walls.
Firstly I went to northern Rock who have told me there is no MPPI attached to my mortgage. I then tried to track my original mortgage broker. He’s disappeared. I then went to the financial ombudsman to track him to no avail. I then went back to my solicitor at the time. I have a statement from them proving the money was tKen out. All I wanted to know was to whom this MPPI was paid to. Again I’m told no there records don’t go back that far.
Sooooo this is where I’m at. Where do I go next. I’ve also approoseveral claims companies and no one will touch it.


HEEEELLLPPPP! I’ve got seven weeks left to find this money.

And thanks for reading this far 😁

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    There's no one to complain to. Not only is the broker no longer in business, it was pre-regulation.

    You can safely put this one behind you.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    MrsCooper wrote: »
    I’ve got seven weeks left to find this money.
    No, you really haven't I'm afraid.
    The blunt truth is that it was the "private broker" who originally sold you the insurance that you would address any complaint and that broker is no longer trading. So there is no one to complain to

    You have therefore completely wasted your time approaching Northern Rock, the Financial Ombudsman, your solicitor and several Claim Companies.

    The fact that this sale took place prior the regulation of general insurance sales in January 2005 means that you cannot even gain access to FSCS.

    Sorry.
  • SonOf
    SonOf Posts: 2,631 Forumite
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    Back in 2001 I purchased my first home. At the time I had a private mortgage broker.

    That is all we need to know. It means you bought before regulation started on 14th Jan 2005.
    Firstly I went to northern Rock who have told me there is no MPPI attached to my mortgage.

    Which is correct. NR didnt sell you any MPPI.
    I then went to the financial ombudsman to track him to no avail
    The FOS is not available to you as you bought before regulation.
    . I then went back to my solicitor at the time.

    Unless the solicitor sold the MPPI (which has happened) then they have no liability.
    All I wanted to know was to whom this MPPI was paid to.

    It doesnt matter who it was paid to. The provider has no liability.
    Where do I go next.

    You give up. The mortgage broker is the only one liable for the complaint but as it was prior to regulation of mortgage brokers, they dont have to consider your complaint and you dont get access to the FOS or FSCS. Its game over.

    A shame as you were missold. Not because you were told to have it but becaues single premium is considered back in over 9 out of 10 cases.
  • MrsCooper
    MrsCooper Posts: 5 Forumite
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    Thank you all for clearing that up for me. I’ll lay it all to rest

    😊😊
  • Markd1921
    Markd1921 Posts: 3 Newbie
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    edited 18 April 2020 at 11:24AM
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    I have MPPI against my mortgage against illness and coming out of work.
    I am currently furloughed and been advised by government to shield for 12 weeks as I am in the vulnerable category.
    I have contacted LG insurance and I am still waiting on a call back,am I covered under the coved 19 situation.
    Any help or advice appreciated Mark 
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Check the terms of your policy.    The answer will be in there.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    edited 18 April 2020 at 8:18PM
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    Markd1921 said:
    I am currently furloughed and been advised by government to shield for 12 weeks as I am in the vulnerable category.
    I have contacted LG insurance and I am still waiting on a call back,am I covered under the Covid19 situation.
    Are you furloughed on 80% of pay from the government scheme? 
    If so,  the insurance will not cover you simply for the remaining 20%. 
    See what LG have to say when they respond. 
  • McKneff
    McKneff Posts: 38,823 Forumite
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    Your insrance covers you for illnes
    You are not ill
    You are out from wirk just in case you get ill.
    I would think its unlikely you would be covered but best to check with them
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    Markd1921 said:
    I have MPPI against my mortgage against illness and coming out of work.
    I am currently furloughed and been advised by government to shield for 12 weeks as I am in the vulnerable category.
    I have contacted LG insurance and I am still waiting on a call back,am I covered under the coved 19 situation.
    Any help or advice appreciated Mark 
    No you are not covered as:
    1) you are not off work ill
    2) you are furloughed which means you are getting at least 80% of your wages.  So, you exceed the maximum amount of cover allowed under income protection.
    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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