Does the Halifax owe YOU money?
If you had or currently have mortgage with the Halifax, it is likely that you may have been paying Total Mortgage Payment Plan (TMPP) along with it. In common with many other lenders and banks, the Halifax has been selling their version of Mortgage PPI for years, often to people who have no need of it or are unable to claim on it for a number of reasons. Please note that only the MORTGAGE REPAYMENT COVER of the TMPP is the PPI component if you did not pay for this part of the TMPP. Then you did not pay for PPI so please refrain from claiming.
The Halifax was one of the fist major lenders to offer mortgage protection plan to its customers in the mid 1990’s. It was selling the plan to literally everyone that took out a mortgage from them. Quite often misleading and pressurising the consumer to take out the policy. Approximately 80% of the money you pay by way of Halifax Mortgage Protection Plan is sheer profit for them, and it can amount to thousands of pounds in each individual case.
The insurance is designed to protect you if you have an accident or fall sick and are unable to work, or if you are made redundant. In theory it is not a bad idea, but the premium is extremely expensive and it may well be that you could never claim anyway.
First, the cost is calculated on the amount you borrow and is usually added on to the mortgage. So if you borrowed £100,000 and the Halifax Mortgage Protection plan came to £8,000, you have actually just borrowed £108,000 in real terms and you are paying interest on the total sum. Most of the average monthly payments for Halifax TMPP is ranges between £20 to £50.
Here is another extremely important point. Let’s say you are self employed: it follows that you cannot be “made redundant” because you work for yourself, so although you are paying part of the premium for that, there is no way you could ever claim.
In fact, it is calculated that as many as 85% of the Halifax Total Mortgage Protection plan policies are not suitable in one way or another for the borrower’s personal situation. The result of this is that there are thousands of claims that have been refused on the grounds of ineligibility that should have been pointed out at the time of the sale.
Sales personnel have also been guilty of all sorts of tricks in order to persuade you to take out Halifax TMPP, not the least of which is to imply that you won’t get the loan unless you do. Worse still, many people have been told that it is a condition of getting the mortgage. This is nothing short of an out and out lie, since Halifax Total Mortgage Protection Plans are completely optional. Quite rightly this has now been stamped upon by the regulator.
If you have been mis-sold MPPI it is now possible to recover not only all of the premiums that you have paid, but also interest at the statutory rate of 8% per annum on top. In many cases this amounts to many thousand pounds; at ClaimsPower the average amount we recover for our Halifax TMPP clients is £4,500, but often very much more.
It is also very possible that you have been sold MPPI along with your mortgage, but you don’t even know that you have it. Quite often it is simply added on to the total that you borrowed without your being made aware of it.
Even if you do not know whether or not you have MPPI on your Halifax mortage it is worth asking us to check it out for you since we won’t charge you anything for doing so.
Click on the link above that says “File Claim Now”. It will only take you five minutes to fill out the form and will speed up your claim by upto 3 weeks. Don’t worry if you can’t answer all the questions we will help you.
We will allocate you a dedicated account manager who will deal with your case and keep you posted with regular updates. There is absolutely no charge to you whatsoever if by any chance we should fail to recover your money. If we are successful we only charge 18% of the money that we do recover which is lower than virtually all of our competitors.
- Claim back as far 30 years (not the standard 6 years)
- Free PPI Check Up
- We can tell you if you were Mis-sold
- Dedicated account manager
- Experts in rejected or refused PPI claims
- No paperwork is necessary
- Fast and effective
- Excellent track record
- We can fast track your claim
- We maximise your payout with other lender searches for free.
- EXPATS can claim with us – contact us wherever you are in the world.
Take action now – you can’t lose a penny, but you could be several thousand pounds richer in just a few short weeks.
Contact us now we are waiting to help you recover your money.Please note that only the MORTGAGE REPAYMENT COVER of the TMPP is the PPI component if you did not pay for this part of the TMPP. Then you did not pay for PPI so please refrain from claiming.