Anxious about claiming PPI

KEG1980 · 3 December 2018 at 10:22AM

Hello Group!

I have been contemplating submitting a PPI claim for quite some time and have always talked myself out of it because for part of my mortgage term I let out my property without updating my lender. Fully appreciate this was not the best way to handle the after affects of a bad breakup and working overseas but just didn't get to the point of being able to manage this. After three years of letting the property I ultimately sold it and closed the mortgage with the lender at the time. There was never any issues with paying the mortgage, this was always paid on time. The amount collected to let the property was the same amount due for my mortgage payment, give or take £3.

My worry is that if I submit a PPI claim, this will prompt the lender to look into my mortgage history with them and review/find something somewhere that says I was letting the property and then there be subsequent action on me, even though the mortgage is no longer active. Is that even possible? Can a lender take action on this subject after the mortgage has been redeemed?

So, couple of questions. When submitting a PPI claim, what do banks then do with that information? How do they assess your claim? Should I just go for it?

I have a number of other sources where PPI might have been mis-sold, such as credit cards and store cards. Can you claim for specific banks/lenders? Eg, claim but exclude my previous mortgage lender.

Any feedback welcome!

Thanks!

[Deleted User] · 3 December 2018 at 10:29AM

You're not submitting a claim, but making a complaint. You make a complaint to each lender you believe mis-sold to you - it's not a one size fits all complaint.

You put your reasons why you believe you were mis-sold. They will then assess your reasons against the selling process.

Your breach of the terms is very unlikely to come up. But make sure you have some reasons as to the mis-sale.

Nasqueron · 3 December 2018 at 11:51AM

All they do is look at the point of sale and what your complaint reasons are. Would the policy have covered you, was it sold properly and was it suitable for your needs - if so, they will likely reject so you need to explain why you feel it was miss-sold - remember, simply having the policy is not wrong, the only issue is whether it was miss-sold.

The bank will not look at your mortgage or what you were doing in the house and they are highly unlikely to do some sort of retrospective punishment (and how would they find out?)

-taff · 3 December 2018 at 11:52AM

You make a complaint, not a claim.
Go to the websites of the companies you had credit with and complain directly to them.
How will the mortgage lenders know you let out the property if you didn't tell them? You're being a bit paranoid.

dunstonh · 3 December 2018 at 12:56PM

Did you buy your MPPI from the lender? Most mortgages in the UK are arranged by brokers/advisers/estate agents and they do not use lenders own insurance.

if you used one of them, then you do not complain to the lender.

Anxious about claiming PPI

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