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  • FIRST POST
    • kajay
    • By kajay 12th Apr 18, 3:36 PM
    • 15Posts
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    kajay
    PPI and Self Employed
    • #1
    • 12th Apr 18, 3:36 PM
    PPI and Self Employed 12th Apr 18 at 3:36 PM
    We took out a mortgage in 1990 with Leamington Spa. Husband was Self employed at the time and he seems to remember he had some sort of insurance with it for benefit if he became ill or couldn't work. Leamington Spa was taken over by Bradford and Bingley. We sold house in 1999, and took out another mortgage for next property with Abbey, but can't remember if we had PPI with it, we still have mortgage but it was taken over by Santander a while ago. I can't find any of our mortgage offer for this property. We only have offer of mortgage document from Leamington spa. It has offer reference, but doesn't mention PPI, but husband seems to remember that we had it. We have filled in a claim form and sent to Santander, but we have saw posts where people saying that as it was so long ago, and we haven't any documents relating to original mortgage apart from offer form, we don't stand a chance of claiming as we haven't got anything saying we did take it out. Is this the case?
Page 1
    • Moneyineptitude
    • By Moneyineptitude 12th Apr 18, 5:14 PM
    • 20,965 Posts
    • 11,738 Thanks
    Moneyineptitude
    • #2
    • 12th Apr 18, 5:14 PM
    • #2
    • 12th Apr 18, 5:14 PM
    Mortgage PPI did cover the self employed in the majority of cases.
    • dunstonh
    • By dunstonh 13th Apr 18, 12:03 AM
    • 94,498 Posts
    • 62,449 Thanks
    dunstonh
    • #3
    • 13th Apr 18, 12:03 AM
    • #3
    • 13th Apr 18, 12:03 AM
    he seems to remember he had some sort of insurance with it for benefit if he became ill or couldn't work.
    Was it PPI? Or PHI? Or life assurance (far more common for life assurance to exist on 1990 mortgage).

    We have seen plenty of people forget what it was they were covered for and guess wrongly 30 years later at what it may have been. We have even seen MIG get mixed up as PPI and MIG may have been an issue in 1990.
    We only have offer of mortgage document from Leamington spa. It has offer reference, but doesn't mention PPI,
    it wouldnt do. One of the reasons most MPPI complaints fail is that it is usually a monthly premium standalone plan away from the debt. Exactly they way that PPI should be set up.

    Who was your life assurance with?
    Did you pay MIG? (high loan to value charge - nearly all mortgages had that in 1990).

    We have filled in a claim form and sent to Santander, but we have saw posts where people saying that as it was so long ago, and we haven't any documents relating to original mortgage apart from offer form, we don't stand a chance of claiming as we haven't got anything saying we did take it out. Is this the case?
    You will only know for sure when Santander respond.

    However, you are talking 30 years ago. No evidence available from an old society that was taken over multiple times, including some failures (records of current business at point of takeover are often transferred over but not historical records).
    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.
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