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Mortage Payment Protection

When you buy a home and obtain a mortgage, the main thing that you are normally concerned with is continuing to be able to pay for the mortgage loan. Most of the time when we do buy homes it is because our financial circumstances are fairly good at that time, otherwise we probably wouldn't be able to purchase a home in the first place. Mortgage lenders know that this is something you are thinking about and as a result often push mortage payment protection on buyers.

A Hefty, Unnecessary Expense

Mortage payment protection is supposed to kick in to make the monthly mortgage payment in situations where lost wages could cause you to default or fall short. However, mortage payment protection cover has so many different exclusions from providing cover that it is almost too much to keep up with. Essentially this makes mortgage payment protection nothing more than an unnecessary expense and a hefty one at that!

Need for Higher Penalties

Some mortgage lenders have even been known to automatically attach mortage payment protection insurance on people without their knowledge and simply roll it up into the monthly payment. This is the highest form of mis selling PPI and should be highly punishable. However, thus far lenders seem to be getting away with a slap on the wrist and an insignificant fine. Consumer advocate groups are calling for higher penalties when lenders are found guilty of mis selling PPI repeatedly.

Claiming Back PPI

For those who actively participated in signing up for a mortage payment protection policy but did so as a result of being given misinformation, the claims process can be a bit disappointing. For example, people who are not qualified for cover but have been sold a policy anyway may be in for a rude awakening when they try to file a claim for assistance with their mortgage payment! Not only can this be a major problem but it can lead to all sorts of other headaches like having to claim back PPI and/or bank charges should any fees or penalties be placed on the account in question.

Bank Charges on Top of PPI

Claiming back bank charges may be even more of a hassle than claiming back PPI. This is because banks are well known for holding fast to fees they have placed on accounts. However, if you can prove that the bank charges were placed against your account as a result of mis sold mortage payment protection insurance then you could have a very good chance of having this money returned to you as well.

If any of the above sounds familiar to you or you feel you have been victimised by dishonest or misleading information then do not hesitate to contact us here at Belmont Thornton. Our knowledgeable and highly skilled claims management team will go to work for you, claiming back what was taken from you in mis sold mortage payment protection. Simply call us at 0207 471 2000 and a team member would be happy to discuss our no win no fee* policy and how to quickly get your claim filed with the lender. Time may be limited so don't delay.


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Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

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