Thread: morgage indemnity ins via ABBEY

bumping up again for you

What are the terms it would pay out on if you were off work?

I thought MII was to protect the lender not the borrower:

mortgage indemnity: a borrower's guide

Do you have a copy of the policy, does it specifically say it is for payment protection should you become ill, redundant etc?

Originally Posted by bobbydog

the fact in the matter is that i was then and still am now self employed and that was fully stated the the beginning of the morgage and loan
but the fair haired young lady bamboozled me into thinking at that time it was the best thing to do

Some PPI pays out for self employed - which I why I asked waht are the terms for payment...what does the policy actually say if you are off work?

Hello Bobbydog,

I can know see why you have asked question on the sucess forum as you have not had much input regarding the PPI on your mortgage. Apart from Giszmo and ell-en of course

Where are you up to with this matter

Originally Posted by bobbydog

hi hhnf
i have been busy on the welcome forum with postggj, 082stewie and others in the demise of welcome whilst i was awaiting the letter from Abbey
i recieved a phone call the other day stating that they have recieved my first letter for reclaiming PPI which was miss-sold when i remorgaged with the abbey
they said that a questionaire would be sent for me to complete and that then the case would be reviewed
this questionaire has now arrived.
now there was a cagger who put up a reply to this sort of questionaire so as not to delay or to trip ones self up and that is what i am looking for
also any other help and advice gladly recieved
as i remorgaged 89000 i think there is a fair amount of ppi to be returned from the last 6 years
thanks hope for reply soonest

Hello Bobbydog,

I did post this response to my questionnaire the abbey sent me, but I was for a loan. You will find the response letter that I sent them on this thread. Dont know if this will be of much help to you.

Oh dear, what did I find on my Abbey loan agreements

They did send me a mortgage questionnaire, and if I can find it I will have a look at the sort of questions that they ask,

Meanwhile can you type up the questions or scan the questionnaire so we can have a look at the questions for you.

hi there please be easy with me, i am sure you have done this a lot of times before, but i am new to this.
i have a morgage with the abbey and took out with them a morgage with a MII (MORGAGE INDEMNITY INSURANCE) BASICALLY FROM WHAT I READ ON THIS SITE as a ppi. Ell-en submits a link in post 12 about MII and MII is not the same as PPI.

first i am i correct in assuming this!!! Sadly no you are not correct. MII is of benefit only to the lender and not the borrower yet you pay for it. Being Self employed would rule you out for a PPI anyway as many others have found out the hard way. Pay for years try and claim and bank small print gets in the way. (hence the massive issue of PPI mis-selling).

when i applied for the morgage in 2002, i stated on all forms that i was SELF EMPLOYED they then sold to me this mii to protect my payments should i become unable to work due to redundancy and/or illness. at no time was i refered to a self employed ppi or the like. With MII and I am not fully up to speed on it but it seems to be lender orientated if you are self employed PPI not applicable in a lot of cases. However with MII you pay the premium to protect the lender if you cannot keep up with payments but there is no benefit to you and in fact it can work against you.


secondly, do you think i was miss sold this policy as it cripples me monthly of over 112 per month Yes I believe you have been mis-sold but you will need to obtain your agreement and terms and conditions if you do not already have them.

CAN anyone please guide me towards the types of letters i need to start the process of retrieving any amount from the abbey and the way in which to cancel this agreement
looking forward to the start of getting even, and this thread will run to it's conclusion Please start with a Subject access request sending a fee of £10.00 requesting full disclosure of all the data as is applicable to yourself including your mortgage agreement, terms and conditions and statements and any other data you consider relevent ie copies of the paperwork raised at the point of agreement.

richard

Now this is MII totally different from PPI but please have a look at this additional link and see how MII that you pay for benefits the lender but not yourself. Once you get the information SAR you can make a decision on how to go about cancelling the MII (as it is of no benefit to you) and reclaiming the premiums.

What is mortgage indemnity insurance?

I will try and find the abbey questionnaire but I would be careful of responding as it may just give them information they do not already hold.

hope this helps

Re my post above I will research to see if MII can be cancelled and the premiums refunded but remember this is not PPI so it is new territory and the outcomes could be somewhat different.