Bank said no PPI on our mortgage but I am sure we had it...

LoopyLoopy

Hi, hope you can help - I did a claim myself a couple of years ago for 2 mortgages - one of them (my second mortgage for a different bank) was successful so the payment back was swift, but the other said we didn't have PPI, but had no evidence to confirm this.

Unfortunately the only information I have is the bank name, mortgage number, address for the mortgage and dates so I have no evidence of the details either, however I know we definitely took PPI because we were very low income at the time and it was pretty much hammered in that the insurance was best to cover any unforeseen circumstances. As it was our first mortgage we went along.

If the bank cannot provide evidence (which I find unlikely) and they are refusing to cooperate further unless we can show evidence (which we can't), where can I go from here? It seems odd that they cannot confirm we definitely didn't have it. With the deadline looming, it's weighing on my mind and I want to do something about this to make sure I have covered all bases.

I've looked up on an online calculator and this mortgage is worth a possible £45-60k in compensation so I don't want to miss out!

I am considering using a PPI company to get 70% of something rather than 100% of nothing but need some advice here before I go ahead.

Thanks in advance!

foxy-stoat

You just have to request an information request to the lender, they will confirm whether you had PPI. If you have already so this and they have confirmed that you dont then it would be up to you to prove you did.

I am not sure how they can prove you didn't have PPI as there would be nothing to prove.

If you took out a secured loan then you must of used a broker, have you tried them?

LoopyLoopy

Hi foxy-stoat, thanks for your reply. We took the mortgage out at the bank branch itself, so no broker used unfortunately. The bank no longer exists so we are now dealing with the new bank which bought them out so it's getting complicated!

[Deleted User]

Forget about using a claims company.

If you and the bank have no evidence, there's no way a claims company will have any documentation for your mortgage.

How long ago was the mortgage?

LoopyLoopy

It started in 1998 for the full 25 years but we sold the house 7 years later so the house sale paid for the mortgage balance in full at the time. Thanks

[Deleted User]

It's not surprising there are no records in that case, even if you had PPI.

They shoud have been deleted some years back.

SonOf

ut the other said we didn't have PPI, but had no evidence to confirm this.

How can they provide evidence of something that isnt there?
Its like saying that you must prove ghosts do not exist.

If the bank cannot provide evidence (which I find unlikely)

Are you suggesting that they are in breach of the data protection act that requires the destroy data that they no longer have a need for. The FCA recommends 6 years after closure.

It seems odd that they cannot confirm we definitely didn't have it.

The cannot confirm you definitely didn't have it as you may have bought the mortgage via an estate agent, mortgage broker or adviser. If you did, then any insurance sales would be with them. Not the lender. So, the lender is not in a position to confirm you didn't have it. Just that they didn't supply it.

I've looked up on an online calculator and this mortgage is worth a possible £45-60k in compensation so I don't want to miss out!

Made up figures that are totally wrong. That is a ridiculous amount. You would have to be paying an MPPI direct debit of around £500pm to get that sort of amount. Most MPPI is around £15-£50pm
Have you also looked up that most MPPI complaints are rejected, even when it is located.

I am considering using a PPI company to get 70% of something rather than 100% of nothing but need some advice here before I go ahead.

CMCs dont have access to your personal data. All they do is tell the bank you were missold. Bank will say, we have already looked into it from a complaint previously raised and we have no evidence that PPI was held.

LoopyLoopy

Thanks for your comments