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I took out an EGG mortgage to re-mortgage a property in January 2001 and the mortgage package I bought included 'Payment Protection Premium' that I understand is equivelant to PPI? and 'Buildings Insurance'. The premiums for these two products are detailed seperately to the mortgage payment on my mortgage offer but I make one monthly payment to EGG for the entire package.
My recollection is that I initially applied for this mortgage on the internet and subsequently I was contacted by a sales advisor from EGG who encouraged me to take the insurances. To the best of my memory I was led to believe that these policies were required in order to get the mortgage. I was not advised that I could seek alternative cover.
In July 2002 I was made redundant and spent some time considering my employment options and whether to go self employed. A month or so after being made redundant I contacted EGG to make them aware (well within their 120 days conditions) and to start claiming on the policy. They told me that I could not start claiming until I was in receipt of Job Seekers Allowance and I duly signed on. I claimed on the policy for two or three months and then called EGG and I believe wrote to them also (copy correspondance since disposed of unfortunately) to let them know that I had started my own business and would start trading in January 2003.
In light of all the PPI Mis Selling I have checked my policy and see that I would only be able to make a claim as a self employed person if my business became totally insolvent.
The mortgage is still running and I am still making the payments for Payment Protection.
I have been unable to find any information relating specifically to this particular product or its mis-selling and I would appreciate any help or advice that can be provided. Thanks.
My recollection is that I initially applied for this mortgage on the internet and subsequently I was contacted by a sales advisor from EGG who encouraged me to take the insurances. To the best of my memory I was led to believe that these policies were required in order to get the mortgage. I was not advised that I could seek alternative cover.
In July 2002 I was made redundant and spent some time considering my employment options and whether to go self employed. A month or so after being made redundant I contacted EGG to make them aware (well within their 120 days conditions) and to start claiming on the policy. They told me that I could not start claiming until I was in receipt of Job Seekers Allowance and I duly signed on. I claimed on the policy for two or three months and then called EGG and I believe wrote to them also (copy correspondance since disposed of unfortunately) to let them know that I had started my own business and would start trading in January 2003.
In light of all the PPI Mis Selling I have checked my policy and see that I would only be able to make a claim as a self employed person if my business became totally insolvent.
The mortgage is still running and I am still making the payments for Payment Protection.
I have been unable to find any information relating specifically to this particular product or its mis-selling and I would appreciate any help or advice that can be provided. Thanks.
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