PPI Payments Carried on After Mortgage

theFlash

Thanks. As I've said, it was the fact that they insisted on a taking a specific insurance policy, and that no other policy could be taken from any other provider. Obviously having buildings insurance is the law. But no where does it say it has to be from Zurich insurance. Hopefully I am making myself clear.

No, it could have been a condition.

It (PPI) was not a condition, although it was presented as such. But I gather that is a common part of mis-selling.

[Deleted User]

theFlash wrote: »

But no where does it say it has to be from Zurich insurance. Hopefully I am making myself clear.

Very clear, but you still don't specify what year you purchased this mortgage.

Years ago, they were indeed allowed to insist on their own choice of insurance

theFlash wrote: »

It (PPI) was not a condition, although it was presented as such. But I gather that is a common part of mis-selling.

Fair enough, but what evidence can you present (decades on presumably? ) that you were told this? Herein lies your problem..

SonOf

theFlash wrote: »

Thanks. I don’t think a ppi can be a condition of a mortgage can it? Or do you mean the buildings insurance? They cannot enforce who provides the policy, which they did at the time. One of the most expensive insurers at that time I might add.

Yes, it was allowed to be a condition of borrowing. It wasnt common but there were several years in the 90s when some lenders had a cross subsidy deal where you got a better rate if you bought MPPI.