- Mortgage PPI Claims
Follow that and see what comes.Posted 4 years ago
The overriding rule in this type of thing is that if the claim you are making is over 6 years old. You need to be able to produce the original agreement to the lenders. If you can just fill in the ppi claim form on the company website (search Abbey / santander complaints) if you can’t then they don’t have to look at the complaint so you have little prospect of success.Posted 4 years ago
NJA … that’s exactly why I thought using a claims company might be the better option.
I, with my limited knowledge and evidence, can be fobbed off.
A claims company might do better for getting a claim (75% of something is better than nowt) for someone of my circumstances.
6 years isn’t that long ago … anyone claimed for before that?Posted 4 years ago
Dear STW Oracle
I took my first mortgage out with Abbey National* back in 1995ish and was sold PPI… Now I remember this, as it was something I probably wanted, but I was definitely not told that the cost of it was added to the mortgage (so paying interest on it) and got a feeling it was compulsory …. But guess I would say that !!
So what are my chances of a refund… bearing in mind I’m not sure of the actual date it was taken out, let alone having a policy number.
The mortgage was paid off/changed lender in 2000
Do you guys have any advice please
Would using a claims company be the best idea, even if they take their 25%
* It was a blooming endowment as wellPosted 4 years agobristolbikerMember
Interesting – I’d never really thought about this before, but when I took out a mortgage ~8 years ago I was told that loan was basically contingent on taking out critical illness cover, specifically to cover the mortgage repayments, at the same time from the bank. Does that constitute a form of PPI on the mortgage?Posted 4 years agostarfanglednutterMember
Aren’t the companies now required to write to you if you took any PPI out with them and do the investigation themselves?Posted 4 years ago
I never took out PPI but both the wife and I have recently had letters from CPP saying that we may have had PPI (because historically we both had cards that used CPP as the insurer) and if so, they will write to us again to tell us if we are entitled to compensation.
There has been a financial conduct authority ruling on CPP relating to mis selling insurance on credit cards.http://www.fca.org.uk/news/consumer-redress-agreed-for-mis-sold-cpp-insurance
This is probably why you have received letters.
Critical illness cover is probably part of a life insurance policy. It’s only mis selling if they forced you to have it as a condition of the mortgage and you didn’t need it. If it was just a part of the advice and you took it up then you probably won’t have much of a claim.Posted 4 years ago
Joint mortgage, would mean a joint claim – you could bring it (assuming the mortgage was held jointly and severally) but if you were both covered any redress paid would be split 50/50 between you and the ex. The ex would have to sign at the end to accept the redress (assuming we were successful) so no chance of flying under the radar I’m afraid.
If the cover was just for you the benefit from any claim should go to you. Although we have had cases where an ex finds out and tries to claim a share.
As far as the redress goes, it would be a maximum of the monthly insurance premiums paid multiplied by the number of months paid plus statutory interest of 8% per annum. So it can add up.Posted 4 years ago
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