Paymentshield claims

Loghead72

This question has probably been asked loads of times and I apologise now if it has! I bought my house in 2007 and like lots of people at the time, I just needed a mortgage. I eventually found one that we could afford. At the time I just agreed to everything because we wanted the house and only now do I realise that one of the insurances is ppi! My question is, my mortgage is with nationwide but the ppi is with a different company called paymentshield and I’m still paying it to this day. I have just written to them to cancel this policy but can you claim ppi back from paymentshield? Many thanks in advance for any help

[Deleted User]

If you have reason to believe you were mis sold, then you can make a complaint to the seller.

But agreeing to buy it isn't in itself a mis sale. It's just a sale.

SonOf

I have just written to them to cancel this policy but can you claim ppi back from paymentshield?

No you cannot. Paymentshield is a product provider. It is not a distributor. It never sold anything to you. So, you cannot complain to the provider about something they did not do.

Why would you want to complain about Paymentshield MPPI? They are a high quality provider and there is nothing wrong with covering your mortgage.

[Deleted User]

Loghead72 wrote: »

only now do I realise that one of the insurances is ppi!

You need to realise that it is not somehow wrong simply to have an insurance policy! Mortgage PPI is still retailed today and Payment Shield is well known as a quality provider of such policies.

I fear you have cancelled this policy in hasty error, fuelled by the furore of the PPI mis-selling scandal and the deadline for PPI complaints. I urge you to look again at this insurance and ask yourself if you've made a mistake cancelling it.

Certainly, you are very unlikely to be refunded anything based solely on what you have said here and you have also now left your mortgage dangerously uninsured...