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Find out more about Mortgage PPI

Posted on August 17th 2012 by Canary Claims

You may be one of millions of people living in the UK who have a mortgage on your home and if this is the case then you may have and most probably have something called PPI. PPI stands for payment protection insurance. As it states in the title, it is a “payment protection” so should give you full security of knowing that should anything happen to you such as unemployment, accidental or even death you mortgage payments should be covered. People think that taking out mortgage PPI is the safest option as they will more than likely have their mortgage for thirty years plus and may think allsorts could happen between that space of time but in fact its extremely unlikely that should ever need to claim against your mortgage PPI and if you ever did need to it is actually rather difficult to do so. Thus being the reason for thousands of people making a mortgage PPI reclaim.

 

The reason so many people are making a payment protection reclaim is due to the fact of PPI mis selling. Not only one being how hard it is to make a claim should you ever need to use your protection policy but it is said that the backs and mortgage lenders are not explaining how payment protection works properly and in most cases of mis sold mortgage PPI it seems that many customers are not even told about protection insurance and has just been put on top of their mortgage leaving them paying out a lot of their own money plus interest on something they will more than likely never need. Other examples where you could make a mortgage PPI reclaim are if you ever felt pushed into taking the protection or where you made to think the insurance was compulsory?

 

So if you do have a mortgage and think you may have mortgage PPI which has more than likely been mis sold, then you could be owed thousands of pounds back plus any interest occurred. It’s important that you join the thousands of other that have claimed back what’s rightfully yours, you could even pay some more of your mortgage off with your reclaimed money!

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Author: Canary Claims
Posted in: PPI
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