Right to ignore PPI?

cautious_mum · 16 March 2017 at 12:49PM

Hello,
Can I just ask a very quick question, I have believed that we have studiously avoided PPI as we always thought it sounded 'dodgy' despite frantic attempts by bank to sell it to us over the years. ie:
myself and my partner have NEVER:

paid anything on our credit card re: insurance (ever)
paid any sort of charges on current bank accounts

Also: With the 2 mortgages we have had since 1995 we refused the 'packaged' insurance and took out our own separately, which was only to 'pay out on death' insurance.

So, am I safe in completely ignoring the PPI frenzy safe in the knowledge that as 'careful MSE reading' people we have managed to side step this particular 'dodgy' sales pitch by the banks?? (this is not to say we haven't made errors elsewhere....)

Basically, is it possible these charges have been 'sneaked' onto our mortgage (or anything else) without us knowing? I guess the mortgage would be the only thing (repayment Openplan offset mortgages).

We don't have any other loans

Thanks

[Deleted User] · 16 March 2017 at 2:01PM

cautious_mum wrote: »

is it possible these charges have been 'sneaked' onto our mortgage (or anything else) without us knowing?

On credit cards PPI shows on every statement itemised on a separate line. On loans, it showed clearly on the original agreement (although it was often repaid bundled together with the loan repayments). On mortgages it would be clearly shown on the initial documentation you signed and agreed to. You say bought life insurance separately, but that's not PPI which covers short term unemployment and sickness.

If you always refused PPI, it's very very unlikely you'll have it. It's a myth sponsored by claim companies that PPI was routinely added without the knowledge and permission of the customer.

Nothing to stop you making speculative enquiries of your lender(s) if you remain unconvinced...

societys_child · 16 March 2017 at 2:14PM

is it possible these charges have been 'sneaked' onto our mortgage

Nope . . . . .

dunstonh · 16 March 2017 at 2:25PM

So, am I safe in completely ignoring the PPI frenzy safe in the knowledge that as 'careful MSE reading' people we have managed to side step this particular 'dodgy' sales pitch by the banks?? (this is not to say we haven't made errors elsewhere....)

It is not possible for it to be hidden. That is a bit of a myth. It comes about from loans mainly where single premium PPI would appear on the agreement and on the statement but only in once place each. So, people who did not read their documentation could miss it. With credit cards it would appear on the statement each month it was paid. With MPPI it would be a monthly payment. So, you cant hide those. They are in plain sight. Assuming you look at them.

s it possible these charges have been 'sneaked' onto our mortgage (or anything else) without us knowing?

No.

cautious_mum · 16 March 2017 at 2:50PM

Thank you all 3 of you.

I thought this was the case, yes I was wondering if it was a 'myth'.
I'm 100% sure nothing showed/showing on our credit cards.
The mortgages, it's more a case of me finding the statements, but I was always careful to check them when I did my budgeting, so looks like I can safely ignore PPI then. (but will check on old statements anyway, when I'm updating my filing).
:-D

dunstonh · 16 March 2017 at 2:53PM

The mortgages, it's more a case of me finding the statements, but I was always careful to check them when I did my budgeting, so looks like I can safely ignore PPI then.

The vast majority of MPPi was paid as monthly premium standalone direct debit. It is one of the reasons why most MPPI complaints fail as that is how PPI should be paid.

Right to ignore PPI?

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