Mortgage Protection Assurance (Ppi?)

[shivvy]

I never thought that I had been missold any PPI however recently I was thinking about mortgage protection assurance that we had been sold a lot of years ago. We already had a certain level of protection on our mortgage but were told that it wasn't enough and that we needed to buy more.
I have been trying to read up about this online but I'm getting a bit confused.

So some of my questions are:
How do you know how much insurance you need on a mortgage?
Can this be considered as misselling?
Are mortgages considered the same as loans etc that you can make a claim for PPI?
My husband is self-employed as well and I have read that that might make a difference?

Any help or advice would be gratefully received.

[Tuvok]

Having watched the Martin Lewis shows you dont need a firm to do it for you.

Take a look at his site - you might find useful advice on there.

[Tuvok]

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

[shivvy]

Yes, have had a look at that site Tuvok thanks. The Money Advice service website is good too.
It just doesn't seem clear whether I have a case.

[SirOracle]

shivvy...Have a look at your Policy and determine whether it is covering death, or whether it is covering your monthly payments on your mortgage.
If it is the former then I would think you have no chance of any claim of mis selling.

[woofgang]

Were you offered the option of that mortgage insurance and you chose it or was it compulsory? ie could you have bought elsewhere? As your husband is (was) self employed, would it have paid out? Was the "needed" a "you really should" or was it more a case of "no insurance, no mortgage" ?

I reckon its worth a shot....

[Gizmonster]

I'm fairly sure that most companies, when offering a mortgage, stipulate that you need mortgage protection assurance. They are just covering their own backs, 'cos if any of the people that contribute towards paying the mortgage should pass away, then the mortgage can be paid off in full.
When we applied for our mortgage, the lender offered us their insurance, but when we declined they simply told us that we needed to provide proof, within a specific time period, that we had a policy up and running elsewhere.

[bednobs]

most people will have life insurance on their mortgage, as it's usually a condition of mortgage. This is not PPI. (it pays out of you die/criticall illness depending ont he cover selected)
PPI can be got on mortgages, to cover the payments if certain events happen. If it is PPI you have, the fact that your hb is self employed may be enough to prove miss-selling. you first need to find out what sort of cover it was

[shivvy]

Ah, lots of advice - thanks. I will go and read the policies more thoroughly.