Woolwich Building Society

scottish_lassy

Many years ago (1990's) I had a mortgage with the Woolwich and I suspect paid PPI. I paid off the mortgage in 2000. I know they were taken over by Barclays and my question is whether I can claim PPI (don't have the paperwork) and how to do it.

Thanks

SonOf

There is nothing wrong with MPPI. You havent mentioned any wrongdoing you perceive to have happened. So, we cant really say if you have a complaint or not.

scottish_lassy

I know I paid some sort of insurance each month (and my house insurance was separate from mortgage) which suddenly stopped at one stage. I did not question it at the time why it had stopped as it was less money to pay each month, which suited me. It was a repayment mortgage which was quite hard to get at the time as endowments were the big thing.

SonOf

I know I paid some sort of insurance each month (and my house insurance was separate from mortgage) which suddenly stopped at one stage.

The most common insurance people have with mortgages is life assurance. Could it have been that? MPPI was only taken out with around 1/4 of mortgages. And there is nothing wrong with MPPI. You can still buy it today.

Life assurance was mandatory with most lenders in the 90s. So, if you had MPPI, I would expect you to have had two direct debits going out for insurance. One for the life assurance and one for the MPPI (and a further one for the mortgage).

The PPI issue is about being missold PPI. Not about the product itself (although with loan and credit card PPI, it can be about the product - not the case with MPPI).

As it stands at this particular point, you are not sure if you had MPPI (as it could be life assurance) and if you did have it, we don't know what you would give as your missale reasons.

You could run a PPI check via the Barclays website. At least that will tell you if you had it or not.

BoGoF

If you got the mortgage via a broker then no point doing anything.

Nearlyold

scottish_lassy wrote: »

I know I paid some sort of insurance each month (and my house insurance was separate from mortgage) which suddenly stopped at one stage. I did not question it at the time why it had stopped as it was less money to pay each month, which suited me. It was a repayment mortgage which was quite hard to get at the time as endowments were the big thing.

It may have been a Mortgage Indemnity Premium that you elected to pay for over a couple of years rather than an up front lump sum. This was an insurance that protected the lender in the event the house was repossessed and the price obtained for the house by the lender was less than the mortgage outstanding. It was often compulsory for high loan to value mortgages and can't be claimed back.

[Deleted User]

scottish_lassy wrote: »

I know I paid some sort of insurance each month

It's very important to realise that not every insurance policy was PPI and not even all PPI was mis-sold. If just having mortgage PPI was somehow automatically wrong, it wouldn't be still retailed today.