Mortgage Protection Insurance

[Maydup]

Mortgage Protection Insurance with the specified company, was a condition of our mortage, some years ago. Was that PPI?

[Buenchico]

"PPI can cover loan, mortgage, credit card or other credit repayments . . . "
http://www.fsa.gov.uk/consumerinformation/product_news/insurance/payment_protection_insurance_/claim-back-ppi

[LyndaB]

We were watching Martin Lewis last night - and he told a woman that if you were told that you HAD to have PPI - under any circumstances - then it was mis sold

[ubasses]

Depends, was it to pay your mortgage if you were ill or redundant, if so yes.
If it was to pay off the full Mortgage in the event of your death then no, that is completely different.

[woofgang]

ubasses, it was illegal to make taking that life insurance from the same company as the mortgage a condition of the mortgage provision though. I think you can get refunded if this was done.

[woofgang]

just checked....apparently its very hard to get the money back.

[BenDToy]

To answer the question you asked, yes it is PPI, however as woofgang comments it is very difficult to get this back. I had exactly this experience. I didn't need or want the insurance (which was indeed PPI), but it was a condition of the mortgage. I had all the relevant paperwork, even although it was a number of years ago, and my claim for repayment was rejected by the lender. I took it to the Financial Ombudsman who also rejected the claim. They took the view that I could have gone elsewhere, and had I needed to claim (which I didn't) the insurance would have paid out, therefore it was not mis-sold.

[Maydup]

Thanks all, I feel clearer now. I'll leave it alone if the result is unlikely to pay back. I've very little paperwork and no energy for a difficult fight. I feel thankful that I managed to afford it and didn't need to claim on it!

[fiction-factory]

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