Find out more about mortgage PPI

Posted on September 18, 2012 by Canary Claims Mortgage PPI

Are you part of the huge percentage of people living in the UK who are owners of a mortgage? If so you more than likely have something called mortgage PPI.

If you are one of many who could have been mis sold mortgage PPI, you could have been paying an extreme amount of money out just to protect your mortgage payments in which you wont actually need to use the insurance but now you could now be entitled to it all back plus interest. Intrigued?

Have you taken out Mortgage PPI?

It’s important to find out whether you have mortgage PPI or not and then find out whether you have been a victim of mis sold PPI. But what is PPI and what is it used for?

Mortgage PPI stands for payment protection insurance. This insurance is used to cover your mortgage repayments if you ever came into difficultly in doing so for example if you ever became unemployed or had an accident causing you unable to work. Although most people take out a mortgage over a large amount of years so some sort of insurance may sound more appealing to give you more security when taking on a mortgage but in fact if you ever did need to use mortgage PPI it has actually been known to be really hard to do so with many complications.

It is also very doubtful that you would need to use it too and with this the banks and lenders who have sold mortgage PPI in the first place have now lost a huge case and now have to pay all their customers who have been mis sold PPI back plus interest. Thousands of people have already claimed back mortgage PPI but not only through not needing payment protection but through other factors also such as feeling pressured by the banks and lenders to take the insurance in the first place, not knowing that mortgage PPI wasn’t compulsory, the payment protection wasn’t explained to customers properly and not given a choice.

If these sound familiar to you then its time you started a claim against mis sold mortgage PPI and got your money back. You, like others could be owed thousands of pounds and think what you could do with that kind of money. Its easy to make a payment protection claim so don’t be a victim any longer by checking your mortgage, checking if you have mortgage PPI and then get help in claiming it all back!