|
For ages I have not been bothered about trying to reclaim PPI, but after watching an episode of MSE, whereby it was stated that time for claiming was running out, and that every one should at least check, I succumbed, and being a lazy-type employed a firm to do the leg work for a return of 30%. Since filling in and sending off the forms I have heard nothing from them since. However, I have received two letters from my bank, one informing me that they were looking into my claim, and the second this morning informing me that they have upheld it, and making me a small offer (£600ish). If I accept this offer (which to me is £600 for nothing really) do I still owe 30% to the firm, or is it all mine as they have dealt direct with me? and as in "other" claims does one accept the first offer?
|
Good for you.
A bank employee told me that if I had PPI then it's treated as being mis-sold.
Put a claim in and the bank replied they had no record, so I've now sent them documentary evidence in the form of statements.
Problem is, I recall buying PPI interdependently from an insurance company for that second mortgage, but I've no proof.
My first mortgage had PPI from the lender, but I've no evidence whatsoever of that one.
|
I've often thought about this but never thought if it applied to me.
When I took out my first mortgage 6 years ago. The estate agents mortgage team dealt with my mortgage search and I dealt with them through the whole process.
Along with the original mortgage.
At their recommendation, I took a product called ASU for covering mortgage payments if I was off due to accident,sickness or unemployment (redundancy I assume)
Also took a critical life cover which covered me I think paid off the mortgage if I developed a terminal illness.
For the latter, I had to declare any family instances of terminal illnesses. I did, my dad died of motor neurone disease when I was young.
Looking at the paperwork after, MND is excluded from the policy. To me that sounds pointless.
I guess at I was more excited at the prospect of the house, and even after I had the first set of paperwork I was sure what i had actually signed up for.
These two policies are still being paid for totalling £60 per month.
I didn't want to do all the legwork for a refusal.
Does anyone know if these types of policies are classed as PPI?
|
>> I was sure what i had actually
>> signed up for.
>>
Sorry that should have been "unsure".
typing on a mobile phone!
|
Being the kind who obsesses over details I never signed up for any PPI products, viewing them as not good value for me in my circumstances.
Or, I recently wondered, did I...?
So I used one of the online firms, just to check. It was just a case of entering my name and address(es) and if possible, account numbers (and if not, never mind) on the couple of forms they sent me. Simple enough.
They dutifully did their bit and in the course of a few weeks, everyone wrote back and said "yes, found your details and nope, no PPI sold to you".
So no payouts for me, but at least I'm now certain my memory isn't yet completely shot.
|
>>I didn't want to do all the legwork for a refusal.
There's little involved. I followed MSE advice and I was able to initiate things online.
www.moneysavingexpert.com/reclaim/ppi-loan-insurance
|
|
Yes, AAU = PPI. Get a claim in.
|
This has got me thinking.
We were pretty much obliged to take mortgage protection when purchasing present home in 1998. Govt had restricted support for mortgage interest for (IIRC) first six months of any claim for unemployment or long term sickness benefit and nervousness from lenders was perhaps understandable. Lender was Northern Rock on a three year fixie. Insurance was an additional monthly cost.
At time I was a Civil Servant and Mrs B an LEA employed teacher. Prospect of anything other than voluntary redundancy (excluded from policy) was vanishingly remote and we both had sick pay covering 6 months full pay followed by six months half pay. Of course once MRs B moved into more precarious world of agency/contracting the insurer didn't want to know about periods when she had no engagements. Neither, as she'd declared previous episodes of depression, were they going to pay if she wobbled off the straight/narrow.
I'm inclined to think that, while some tailored cover might have been useful, we were sold something far too expensive.
Will look into it in more detail when I get home. A decent refund might support another trip to the States....
|
PPI - bathtub tom
