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Mortgage Payment Protection Policy

The odd thing about a mortgage payment protection policy is that many people never really get to see the policy until long after they have agreed on the loan and have actually started making payments on loan insurance. However, it is still referred to as a 'policy' even though in the traditional sense of the word there is no such thing because so few people ever qualify for cover! This is why so many policyholders in the UK are requesting refunds; because they never should have been made to purchase cover they couldn't use.

Basics of a Mortgage Payment Protection Policy

In effect, the concept of purchasing payment protection is a good one. The idea is to provide insurance cover that will make loan repayments if the policyholder loses his or her job or becomes temporarily out of work due to layoffs, illness or injury. Unfortunately, there is a problem with this type of policy because there are a ton of conditions to be imposed and exclusions from cover hidden somewhere in the small print that you never get to see until long after you have closed on your mortgage loan. The end result is that 85 to 87% of all people who buy a mortgage payment protection policy are never eligible to draw benefits and should have never been sold loan protection insurance.

How to Reclaim Money Paid on a Mis Sold Mortgage Payment Protection Policy

If your lender added mortgage PPI onto your loan without your consent or knowledge, you have been mis sold PPI and are eligible to claim back money spent on premiums and interest. As well, if you were told that the cover could do something it can't do or that you had to purchase cover in order to obtain the loan, it was mis sold. Contrary to what many people believe, you don't file mis sold PPI with the insurance company but rather with the lender (or independent insurance producer) that sold you the policy. It is possible to file a claim on your own but bear in mind that most lenders will be unwilling to admit that they mis sold cover and will deny more claims than they will approve. This necessitates filing a complaint/appeal with the Financial Ombudsman Service which just adds to your frustration. The easiest way to file a claim on a mis sold mortgage payment protection policy is to utilise the services of a professional claims management firm

Belmont Thornton has been successful in helping thousands of UK policyholders file mis sold PPI claims. Although there is never a guarantee, we have a wonderful track record of winning back premiums and interest for clients we represent on a no win no fee* basis. The claims team is always available to answer any questions you may have and we promise to work diligently to claim back the money you deserve. To get started on the fast track call the claims team today on 0207 471 2000. Time may be limited so claim back your hard earned money before it is too late.


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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.

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