PPI and Colonial Mutual

Computer_User

I want to check ppi for Colonial Mutual as I had an endowment mortgage with them. i know no longer in business any one any idea were i could contact them

thanks

[Deleted User]

Endowments did not have PPI.

Rainbowgirl84

Moneyineptitude wrote: »

Endowments did not have PPI.

I had an endowment mortgage and definitely and deliberately and fortunately (as it turned out) took out MPPI and was so glad I did. It saved me from losing my home.

[Deleted User]

Computer_User wrote: »

I want to check ppi for Colonial Mutual as I had an endowment mortgage with them. i know no longer in business any one any idea were i could contact them

This sounds like a broker sold mortgage. I'm assuming this was pre 2005 as well? If both are the case, any complaint is a non-starter.

How do you propose to contact Colonial Mutual if they are no longer trading?

SonOf

I want to check ppi for Colonial Mutual as I had an endowment mortgage with them.

Colonial Mutual were an insurer and not a lender. So, you could not have had a mortage with them. You could have had the endowment policy with them. However, endowments cannot have PPI on them.

Colonial Mutual were also a life assurance company. Not a general insurance company. They did not offer a standalone PPI plan either.

So, one way or the other, you did not have PPI with them.

You also dont have PPI on your house insurance, electricity bill or your weekly supermarket shop.

TrickyDicky101

I believe the Uk side of Colonial now sits with Aviva, however (and as already stated), you didn't have PPI on your endowment.

Old_Lifer

As others have said you probably had the endowment with CM and the mortgage elsewhere.


A few Life Offices did sometimes offer endowments with a waiver of premium option (suspension of premium payments during a period of illness) but that was not PPI.


Surprisingly, some large Life Offices did offer residential mortgages. These were not aimed at the man in the street but were low-key and were targeted at those with Professional or Managerial occupations. During my service with a Life Office we allowed 4 times income on these mortgages, compared to 2.5 - 2.75 with a typical building society mortgage. Mortgages were not freely available as they are today. It was normal for a building society to require someone to have saved with them for a couple of years before applying for a mortgage.