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Scottish Trust Deed Forum
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Topic starter
17/04/2013 2:26 pm
Hi everyone,
I received a letter from WA this morning stating they were going to instruct the company who are looking into any mis-sold PPI, to also ask them to find out whether I've been mis-sold PPI on any secured lending/mortgages, which are not part of my trust deed. And that if they find any PPI relating to my secured debts, then the policy will need to be cancelled.- meaning I could no longer claim on it.
Please can somebody tell me what this means??
It also states if I do not want them to look into my secured debts, then I've to inform them within 30 days...
Help!!
17/04/2013 3:33 pm
Hi Nemo1.
Have you ever taken out a policy connected to a secured loan or a mortgage?
Do you have one currently?
If you do, is it a policy that you would like to continue because you perceive a need for it?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
17/04/2013 3:36 pm
Hi Nemo
I think they are looking into PPI on the mortgage which is not a claim in your trust deed as its secured against the house.
You should probably check to see if there is any ppi on your mortgage and satisfy yourself that it was voluntary and required. If not, then they may very well claim against this which would result in the policy ceasing and you having no protection under the policy in the event of unemployment etc.
If there's no ppi, then it's not an issue.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
17/04/2013 3:54 pm
Hmmm... I don't think either me or my husband have any PPI on the mortgage.. I have 1 life insurance policy, and my husband has2. 1 of which includes unemployment etc.. We've been paying ever since we first got the mortgage and is through Aviva..
Is this what they are looking at??
Excuse my ignorance!
18/04/2013 11:57 am
Unemployment cover does sound like some kind of PPI policy, though not necessarily. If it was set up separately as a stand-alone policy, then I think it may not fall into that category.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
18/04/2013 1:50 pm
I think if you chose and accepted the policy, then there should be no issue and it may be unwise if this was cancelled as it would leave no protection.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
