PPI on Mortgage

mauraf

Hi All
I took out a mortgage in 2008, and yesterday received a phone call that I could be entitled to a refund on PPI....cold call albeit - but it got me thinking!

Now - I have no idea if I am paying anything on this....so rang my mortgage provider, who told me that I would have to get onto the insurance company to check. When I ring them - they have a recorded accouncement to contact your bank on any PPI queries! So - looks like the start of going around in circles!

Has anyone made a claim yet? If so - how did you even know you were paying it? I would have assumed it was a separate debit on my bank account? If anyone can shed any light, I would be grateful!

Thanks

Maura!

BuffyBot

*sigh* Ignore the cold call.

Take a deep breath.

Payment Protection Insurance mis-selling was a humongous thing in the UK previously on personal lending, so much so nearly every one and their dog has been claiming back and the banks (rather than fighting each case individually) have set aside money to just deal with the claims. A lot less of it happened on mortgages than personal lending/credit cards.

Over here mis-selling didn't happen on the same scale. There is no blanket carte-blanche refunding in place.

So, first you would have to prove you were actively mis-sold the product (i.e. lied to about what it would cover, how much it would cover you for). Most mortgages have a tied insurance element with them so I suspect you're on to a loser with this one. Check your mortgage documentation. The information should be with it.

financialguru

Hiya Maura,

The first thing I would say is certainly be careful of who is ringing you especially a cold call as a lot of these ''companies'' are cowboys and after your details more than anything. But you are right to get thinking Maura, did you take out your mortgage through a mortgage broker?!

Also if your insurance company is passing you around that is something you should give out to them about, it is there job to take care of you. I heard of a few people claiming back but it vaires, a lot of policies take out back in the ''good days'' are highly over priced.

Do you know name company who rang you?

Hope I can help

mauraf

Thanks Both....tbh, I dont think I have being paying this PPI - I just want to be 100% sure!

My mortgage was taken out with a broker - but a reputable one at that....so I dont think I have an issue there!

I might try and get back onto a human with the insurance co - surely after pressing a few stars and confusing the automated system, I will get there!

I do know the company who called - ABC....all over tv now as well....

Liam D Ferguson

Mortgage broker should be able to tell you whether or not you got PPI with your mortgage.

Henry Ford III

Liam D Ferguson wrote: »

Mortgage broker should be able to tell you whether or not you got PPI with your mortgage.

It should be on the annual mortgage statement too?

mauraf

Ok - thats for all that....no mention of it on my mortgage statement or anything - might contact the broker anyhow - just in case!

Many thanks all - much appreciated!