It is entirely possible to reclaim ppi if you have been sold the product on a mortgage. However the procedure is slightly different…
With a mortgage ppi claim you will need to gather or the necessary paperwork around the agreement, and you will have to look carefully at the policy contained in it, this is to determine if you have been miss sold ppi or if there is no ppi present on the agreement at all…
On any given ppi reclaim case it is important to first check if there is even payment protection included on the policy, as if it is not present then it will not be possible to process a real claim.
With a mortgage payment protection claim, you will need to be extra careful in your investigation, this is because the amount of money you claim back could well be a large sum of money, so the banks might be more inclined to attempt to reject the claim, so you will need to be on your guard about this.
Also, with mortgage claims, it you will need to know the term that you paid into the insurance policy for, and also the sum of money that you paid off your mortgage each month.
Complications can occur if you are unclear on these points of reference, it also helps if you have the original paperwork and the account number for the loan, but you can actually request that the creditor send you a fresh copy of this so it is not a massive cause for worry or concern so proceed as normal and request the information if you do not already have it to hand.
Once you send off the letter to your creditor they should get back to you within a couple of weeks, however, you might need to chase them because some creditors are much slower than others, plus items that are sent through the mail can sometimes not be delivered, or become lost, so it is wise to fax a copy of your letter, or perhaps email a copy of it as well, patience and being methodical is key.
You will need to be persistent with this cases because they are very often stalled.
There are many online points of reference you can search online that can give you additional information on the topic of mortgage ppi reclaims. It is recommended that you do your research before attempting to reclaim mortgage protection insurance without the use of an external agent.