PPI on a mortgage

[Tugela]

I took out a mortgage in 2001 and PPI was included for free for 6 months, and then just carried on after that. I do believe i was told that this was a requirement for my mortgage.

Can I reclaim it back at all? It is with PaymentShield

Thanks

[ims21]

Hi

 

Yes, mortgage PPI can be reclaimed

 

Regards

 

ims

[Kate1973]

Hi Tugela

 

I am doing the same with Natwest so will let you know how i get on, my complaint is currently in the back log with the rest.

[freelance]

I've put in a claim for mine from HSBC, also sitting in a queue somewhere - will keep you posted.

[Kate1973]

Hi All, a hot off the press update

 

I've had a result on mine, re claimed from when MRP policy was taken out in 2002 they have agreed to repay all premiums paid plus 8% in on each premium from the date paid till now, but as a gesture of good will without admission of liability, due to the length of time my complaint had been with them, to be fair only since beginning of May. Didn't think it would be any good but worth a letter or two, glad i did. So to all with a Natwest or RBS Mortgate prot policy get re claiming.

 

Thanks

[ims21]

Hi All, a hot off the press update

 

I've had a result on mine, re claimed from when MRP policy was taken out in 2002 they have agreed to repay all premiums paid plus 8% in on each premium from the date paid till now, but as a gesture of good will without admission of liability, due to the length of time my complaint had been with them, to be fair only since beginning of May. Didn't think it would be any good but worth a letter or two, glad i did. So to all with a Natwest or RBS Mortgate prot policy get re claiming.

 

Thanks

 

Nice result Kate...well done.

 

Should inspire others to keep at them.

 

Regards

 

ims

[freelance]

Fantastic news! Proof it's worth claiming MRP.

 

I've seen a lot of comments from people on various forums saying it was harder to mis-sell and the policies didn't have so many exclusions so claims were unlikely to be upheld but in my experience the MRP selling and policy were exactly the same as Loan/CC PPI.

 

Still waiting for my final response and amassing the ' taking longer than expected' letters but they're about to go over the 16 weeks extension so fingers crossed.

[Tugela]

Hi All, a hot off the press update

 

I've had a result on mine, re claimed from when MRP policy was taken out in 2002 they have agreed to repay all premiums paid plus 8% in on each premium from the date paid till now, but as a gesture of good will without admission of liability, due to the length of time my complaint had been with them, to be fair only since beginning of May. Didn't think it would be any good but worth a letter or two, glad i did. So to all with a Natwest or RBS Mortgate prot policy get re claiming.

 

Thanks

Oh well done to you !!

[Tugela]

I am a little confused (or a lot!)

I applied to PaymentShield for a refund of my mortgage PPI and received this reply

"I must confirm that the policy in question is a stand along Mortgage Payment Protection Insurance and was not sold in connection to any loan of credit agreement

(so does this mean I have to have it?)

Letter goes on to say ....

"I can confirm that full policy documentation was issued on policy inception which included full details of any restrictions or exclusions, cancellation rights and also the cost of the poolicy. I must therefore advise that I am unable to uphold your complaint and I cannot agree that a return of premiums should be awared in this case"

 

Ok, I really dont understand.... do I have to have MPPI or not as I was under the impression I did have to....... we got it free for 6 months and it just continued... no one ever advised otherwise.

What should I do?

Thanks

[ims21]

I am a little confused (or a lot!)

I applied to PaymentShield for a refund of my mortgage PPI and received this reply

"I must confirm that the policy in question is a stand along Mortgage Payment Protection Insurance and was not sold in connection to any loan of credit agreement

(so does this mean I have to have it?)

Letter goes on to say ....

"I can confirm that full policy documentation was issued on policy inception which included full details of any restrictions or exclusions, cancellation rights and also the cost of the poolicy. I must therefore advise that I am unable to uphold your complaint and I cannot agree that a return of premiums should be awared in this case"

 

Ok, I really dont understand.... do I have to have MPPI or not as I was under the impression I did have to....... we got it free for 6 months and it just continued... no one ever advised otherwise.

What should I do?

Thanks

 

Who was/is your mortgage with?

 

ims

[Tugela]

My mortgage is with Intelligent Finance.

[ims21]

If you were paying the premiums to I.F. then it is they who you submit your claim to.

 

Regards

 

ims

[Tugela]

No I pay by direct debit each month to PaymentShield not to Intelligent Finance

[ims21]

Hi

 

PS say its a stand alone product and not linked to your mortgage?

 

I have to admit to being a bit confused based on the info given. Maybe I'm missing something (which is possible of course!).

 

Can you give us some more details as to what happened when you took your mortgage out and how you came to have this cover?

 

Also confused about whether it is linked or not linked to your mortgage.

 

ims

[Tugela]

Sorry lol.

Ok when we got our mortgage (in 2001) our broker advised on taking life insurance (thats fine) and gave us all these forms/things to sign which at the time we believed to be compulsory. Am being perfectly honest here (bit stupid also i suppose) but when I saw this "Paymentshield" off my bank statement I presumed it was some insurance not for a moment did i think it was PPI. My husband lose his job in 2003 and we never used this (which goes to show we had no idea what it really was) and only from reading and seeing things other people are saying did I delve more into it and realised it was PPI on the mortgage. I cannot recall discussing this with our broker.

I have the letter from PaymentShiield if you would like me to post it?

Seems from what i understand is that this was a separete insurance on our mortage not via IF.

Thanks

[ims21]

Hi

 

Been doing a bit of research on this. PaymentShield sell stand alone inurance products through intermediaries. This would not have formed part of your mortgage contract with I.F. in fact I.F. would probably/possibly not have known anything about it.

 

I revert to the standard which is you claim from whoever you were paying the premiums to, in this case PS.

 

This being the case, I believe you are right in that PS are your target and it was their intermediary who was responsible for the information (or lack of it) given to you at point of sale.

 

I have googled on this and there is very little useful info around.

 

I would guess the letter you have had states it is a final decision or some such wording. In which case I would be inclined to get all of your evidence and reasoning together and pass it over to fos and get them to investigate it.

 

Regards

 

ims

[Tugela]

Thanks for your help.... the letter states ...

"I trust that my response has addressed your concerns however I will keep your complaint file open for 8 weeks so you have time to consider my response. if I have not heard from you by then I will close your file however if you feel that you would like to discuss this further or have any additional information to provide on the matter, please dont hesitiate to contact me"

 

Also in their letter they say " whilst writing, I would also like to clarify that Paymentshield are respinsible for the administation of this policy, however, this was not arranged by us, but by and independent firm called Bradford & Bingley Plc"

 

What do you think I should do? What information will I need

[ims21]

Ok so its not their final response.

 

Bear in mind it is PS who have had your money and the use of it so it is they who would need to pay it back to you.

 

I'd write back and again reiterate the reasons for the mis-sale and suggest that they have had your moeny as a result.

 

Tell them that you now require their final decision and repayment of the money due to you for the mis-sale.

 

If they pay up, great....if they don't they must give you their final decision letter and then you can hand it to fos.

 

Regards

 

ims

[Tugela]

Thanks so much for your advice... I will get all the paperwork out and send them another letter.

thanks once more

[ims21]

Hi

 

No probs

 

Sorry its a bit of a tricky one!

 

regards

 

ims

[freelance]

HSBC putting up a fight despite agreeing I couldn't have made a claim and underwriter saying the same! Their letter wasn't a final response, so still a bit of mileage before passing it on to the FOS. Also spoke to the FSA who have said that HSBC now have to give a final response by next week when the 16 week extension runs out. Have sent HSBC another letter with deadline. Have just had a really good experience with the FOS over another claim so have renewed faith in them dealing with it if need be, even if it takes an age.