Mortgage Payment Protection Insurance

Mortage Payment protection Insurance policies have been sold to the majority of mortage borrowers from the high street bank. Mortgage payment protection insurance is an insurance that protectect the bank against you defaulting against any mortage payments. With the Mortgage payment portection policy, the bank charges you a monthly fee for this insurance and if you default from your mortgage, then processes a claim on your behalf with their own insurance company to pay your mortage. The bank then either starts to pursue you for the outstanding mortage and threatens to put withdraw your mortgage loan.

The mortage payment protection insurance has been miss sold, and is now eligble to get a full refund. You can claim a full refund directly from your bank or via a solicitor. it best to go via a solicitor as the bank will then take you more seriously. However, the solicitor may charge you for a mortgage payment protection insurance refund claim.