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    • linky
    • By linky 5th Jan 18, 2:30 PM
    • 26Posts
    • 2Thanks
    linky
    Paymentshield, PPI claim?
    • #1
    • 5th Jan 18, 2:30 PM
    Paymentshield, PPI claim? 5th Jan 18 at 2:30 PM
    Hi, we had a financial advisor to help us take out a repayment mortgage in 1997 when it was clear our endowments were not going to pay it off. As part of the service we agreed to take out mortgage payment protection for unemployment only, we didn't fully realise what it was but the advisor was a good salesman and talked us into it. We paid it for a number of years then when we realised what it was we cancelled it, my husband has a very good job with the council and they have a no redundancy policy. Can we claim mis sold PPI or claim under Plevin?
    The advisor has recently been struck off for Mis-selling of geared traded endowment policies (“GTEP”) and basically being a bit economical with the truth about their finances following liquidation of their business.
    I did try to claim 're the endowments a while ago but as I worked for Prudential and got a staff policy the ombudsman said I should have known the rules, that it might not pay enough in the end, I didn't have a clue I was the receptionist!
    Hopefully can claim something now for the PPI? Thanks for any replies.
Page 1
    • dunstonh
    • By dunstonh 5th Jan 18, 4:23 PM
    • 92,999 Posts
    • 60,380 Thanks
    dunstonh
    • #2
    • 5th Jan 18, 4:23 PM
    • #2
    • 5th Jan 18, 4:23 PM
    As part of the service we agreed to take out mortgage payment protection for unemployment only, we didn't fully realise what it was but the advisor was a good salesman and talked us into it.
    And he picked a good provider. Paymentshield are well regarded.

    my husband has a very good job with the council and they have a no redundancy policy.
    No councils have a no redundancy policy.

    Can we claim mis sold PPI or claim under Plevin?
    No you cant.

    1 - its pre-regulation by 8 years.
    2 - it was adviser sold so Plevin wont apply.

    I did try to claim 're the endowments a while ago but as I worked for Prudential and got a staff policy the ombudsman said I should have known the rules, that it might not pay enough in the end, I didn't have a clue I was the receptionist!
    Staff are also usually excluded as they are classed as buying them on a non-advice basis and getting them cheaper.

    Hopefully can claim something now for the PPI?
    no you cant.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • linky
    • By linky 5th Jan 18, 5:34 PM
    • 26 Posts
    • 2 Thanks
    linky
    • #3
    • 5th Jan 18, 5:34 PM
    • #3
    • 5th Jan 18, 5:34 PM
    Thanks for the reply.
    My Hubble would have taken redundancy if it was allowed! but it's not.
    • McKneff
    • By McKneff 5th Jan 18, 6:14 PM
    • 36,035 Posts
    • 46,442 Thanks
    McKneff
    • #4
    • 5th Jan 18, 6:14 PM
    • #4
    • 5th Jan 18, 6:14 PM
    How did theyvget rid of staff who had say 10 years service and new technology made their job non existant . They coulnt just sack them .
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • societys child
    • By societys child 5th Jan 18, 6:48 PM
    • 5,220 Posts
    • 5,771 Thanks
    societys child
    • #5
    • 5th Jan 18, 6:48 PM
    • #5
    • 5th Jan 18, 6:48 PM
    Thanks for the reply.
    My Hubble would have taken redundancy if it was allowed! but it's not.
    Originally posted by linky
    They could make him redundant if they wished, however you can't normally just ask for it!

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