How to reclaim PPI from Abbey National mortgage

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  • Gillian1969
    Gillian1969 Posts: 2 Newbie
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    Thank you for your reply. This clarifies things for me. I wasn't sure if interest only mortgages had PPI added to the monthly mortgage repayments. If it was a seperate payment, then luckily we couldn't have had PPI. The only other monthly payment made to Abbey National in my records was for housing insurance.

    I just want to check one more thing. We had individual endowment policies with Winterthur Life, but cashed them in in 2007 as they were not on target to pay the mortgage off at the end of term. Is there any financial redress for them?
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Gillian1969 wrote: »
    We had individual endowment policies with Winterthur Life, but cashed them in in 2007 as they were not on target to pay the mortgage off at the end of term. Is there any financial redress for them?
    Not now I'm afraid.
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    ust want to check one more thing. We had individual endowment policies with Winterthur Life, but cashed them in in 2007 as they were not on target to pay the mortgage off at the end of term. Is there any financial redress for them?

    No. You have to complain within 3 years of being reasonably aware of an issue. Also, with endowments, you had to complain within 3 years of the mid rate projection first showing a shortfall. Most of those started around 2001-2004. By 2009, over 3/4s of endowments were timebarred from a complaint.
    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.
  • smitsa
    smitsa Posts: 1 Newbie
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    I have been reading the threads and can see that Mortgage Indemnity Guarantee is different from PPI and for MGI we should not attempt to reclaim. But how does Mortgage Protection Policy compare to PPI? is Mortgage Protection Policy the same as MGI? (sorry i am confused) i took out a morgage with Abbey National in 1993 and have the copy of my hand written abbey national mortgage with a tick showing that i took out Mortgage Protection Policy.
    yet when i wrote to Santander in March 2017 - they said they had no record of me having PPI. should i be questioning this again?
    thanks
  • Bermonia
    Bermonia Posts: 977 Forumite
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    Unfortunately the time to query this further was back in 2017 as you had six months from their final response to respond.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Mortgage Protection is a form of PPI.

    However, it's unsurprising they had no records of a policy taken out 26 years ago.

    You'll need to provide your records, plus evidence of what you paid, as well as your complaint reasons, to have any chance of this being looked at.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    smitsa wrote: »
    when i wrote to Santander in March 2017 - they said they had no record of me having PPI. should i be questioning this again?
    thanks
    Unfortunately, if you write to them again now (over a quarter century on) they still won't be able to find any record. Santander did not keep records of long ago finance taken with Abbey National.
  • Old_Lifer
    Old_Lifer Posts: 780 Forumite
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    A Mortgage Protection Policy is is a life assurance policy. It would be issued alongside a repayment mortgage. On death during the term of the mortgage, the sum assured would be intended to repay the mortgage. As the mortgage debt with a repayment mortgage reduces , so the sum assured with a Mortgage Protection Policy also reduces.



    A Mortgage Payment Protection Policy is designed to replace income if you become ill or unemployed.



    A Mortgage Indemnity Guarantee may be required by the lender if you are seeking a particularly high loan relative to the property value. It is designed to protect the lender should the property be repossessed

    and sold for less than the mortgage debt. Although it protects the lender it is paid for by the borrower.
  • Frances63
    Frances63 Posts: 265 Forumite
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    DaveInSouthampton wrote: »
    I found this discussion extremely helpful. I had a 100% endowment mortgage with Abbey National which ran from August 1987 until January 2003, when it was paid off. I remember the additional one-off premium which would have been the compulsory Mortgage Indemnity Guarantee, so no mis-sold PPI. Allay PPI Claims said they "didn't get a whistle" on this one. All they could find was £7 PPI on a Santander credit card, and they don't process anything under £20. All other inquiries proved negative. So closure at last! Perhaps just as well as I was on their 36% tariff!
    My thanks to all contributors for the right questions and informative replies.

    Thank you Dave, you just saved me the trouble of a rummage through attic boxes as I had exactly the same as you.
    Now I know not to bother. ~ Closure on that one , thanks!
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