PPI on Mortgage payments

I pay for Mortgage Payment Protection Insurance and have done since 1996. I don't fully understand about PPI and CCP . Is the PPI that I pay for anything to do with this money back for PPI? :A
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  • krisdoreykrisdorey Forumite
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    Its not "money back".

    Its about people being mis-sold PPI, a complaint is a raised about why the PPI is mis-sold (simply having it isn't enough) and a decision is made based on the merits of the complaint.

    Very few mortgage PPI complaints are upheld and for good reason, missing payments (i.e. without the protection of PPI) in a mortgage is a life changer in that you would lose your home. Therefore most people would be encouraged to take PPI on a mortgage and this wouldn't be out of the ordinary.

    Why do you feel you were mis-sold MPPI?
  • Many thanks for your reply. I don't fully understand this PPI and CPP. I was just that I received a letter telling me that our payments had gone down, {that makes a nice change...LOL} I noticed the letters MPPI at the top of the page and just needed clarification of whether this had anything to do with the miss sold policies. The CPP I had was taken out in 2007 so I haven't done anything about that one because I read it was only for pre 2005 that had concern. Thank you :A
  • dunstonhdunstonh Forumite
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    MPPI is a form of PPI. However, it is one of the good ones. Indeed, it is one of only two types of PPI still retailed today.

    Some people do make complaints about the sale but most get rejected given the importance.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • :sad: Sorry.....I've never posted before and didn't know exactly where to put my post.....:A
  • Do i have a valid claim for mis sold mppi
    When i took my mortgage out i was told i had to have Mppi which i now believe was not and is not the case.
  • -taff-taff Forumite
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    The CPP I had was taken out in 2007 so I haven't done anything about that one because I read it was only for pre 2005 that had concern. Thank you :A


    What are you talking about by saying CPP?
    Identity protection that you pay a one off fee once every year, or a regular monthly payment coming off your credit card?
  • dunstonhdunstonh Forumite
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    When i took my mortgage out i was told i had to have Mppi which i now believe was not and is not the case.

    If you were lied to then you have a complaint reason. However, its a very weak complaint reason as almost certainly you have no evidence to support your allegations.

    If you bought via a broker then brokers often require you to buy insurance via them to get the free mortgage advice. That model is allowed as long as the insurance is suitable. There were a large number of deals in the mid 90s that required the purchase of an insurance product to get the special mortgage rate. That model was also allowed as long as the insurance was suitable.

    Without evidence to support your allegation, and assuming its not one of the above allowable cases, a complaint would be rejected on that point. However, it would then be looked at for overall suitability to make sure there was no wrong doing there.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • -taff wrote: »
    What are you talking about by saying CPP?
    Identity protection that you pay a one off fee once every year, or a regular monthly payment coming off your credit card?
    I meant CCP, Credit Card Protection.
  • roonaldoroonaldo Forumite
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    So start again, what actually is your question?
  • -taff-taff Forumite
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    I meant CCP, Credit Card Protection.


    Again, is that a one off yearly payment or a monthly payment on every statement?
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