Mis-sold Mortgage Payment Protection Insurance claims (MPPI)
Mortgage Payment Protection Insurance (MPPI) was created to protect your mortgage repayment premiums if you were suddenly unable to work due to accident, sickness or being made redundant (ASU).
MPPI is simply one part of the whole Insurance mis-selling scandal. Although MPPI isn't by itself an undesirable product, it was frequently mis-sold by mortgage loan companies to customers to whom it was inappropriate, by utilising numerous mis-selling methods.
One of the most typical MPPI mis-selling methods was failing to mention the policy was optional, or even to mislead the client into thinking it was compulsory. Additionally, the buying price of the actual MPPI plan was rarely explained to borrowers in the general mortgage quote.
Often the loan companies would fail to talk about crucial areas of a policy, such as the exclusions as well as limitations. MPPI was as a result offered to a lot of customers to whom it was absolutely no use whatsoever. For example, retirees, the self-employed, people working less than Sixteen hours each week, students and people who had pre-existing medical conditions, these groups would likely never be eligible to claim under their MPPI policy.
If you believe you were mis-sold MPPI and would like to reclaim it, start your MPPI claim today by completing the online contact form and a specialist advisor will call you back for a no obligation chat about your case.
You need to be aware that MPPI was generally less costly than other kinds of PPI. This might affect the degree of your own MPPI compensation claim with some policies amounting to just 1% of the monthly premium. However as with other kinds of PPI you will be eligible to claim interest when determining the overall MPPI claim for compensation. Look at your MPPI plan or even your own home loan declaration to determine just how much you are spending monthly on MPPI.
If you believe you were mis-sold MPPI and would like help to reclaim it on your behalf, then complete the contact form and a specialist advisors will call you back for a no obligation discussion about your case.