Secured loan PPI

This type of PPI policy, sometimes called MPPI, was offered via Northern Rock with any mortgage (or secured loan) until June 2009. These policies were optional, and were designed to cover the customer's mortgage or secured loan repayments in the event of a successful claim for a number of eventualities, depending on the policy, including accident, sickness or unemployment, to help them cope during difficult times.

Many customers who purchased secured loan PPI have benefited from the protection and peace of mind this type of policy can bring. Mortgages are a large financial commitment, so it can make sense for many homeowners to protect their monthly payments against a loss of income should they suffer an accident, fall seriously ill or lose their job.

If however, you feel strongly that your PPI policy was mis-sold to you, or have other questions about the complaints process, please view the FAQs below.

If you cannot find the information you require here, please contact us directly.

How do I know if I purchased a PPI policy via Northern Rock?

This type of PPI policy was offered via Northern Rock with any mortgage (or secured loan) until June 2009. These policies were optional, so some mortgage customers will not have purchased one, or could have taken out a policy with another provider.

The premium for a secured loan PPI policy would have been paid by monthly Direct Debit to the specific insurance provider. The premium was not included in the monthly mortgage payments paid to Northern Rock (or now NRAM). As a PPI policy holder, you would therefore see a payment leaving your account each month to the insurance provider. This would be in addition to and separate from any payment leaving your account to Northern Rock/NRAM.

If you are unsure of whether you purchased a secured loan PPI policy through Northern Rock, we would first recommend you review your bank statements for the monthly premium which would be paid to Cardif Pinnacle. If you are still unsure, you could contact Cardif Pinnacle direct on 0344 543 1163. Lines are open Monday to Friday from 8.30am - 6pm. Alternatively, you can write to: Cardif Pinnacle, Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire, WD6 2XX.

What if I purchased a PPI policy with another provider?

We are unable to answer any queries about PPI policies sold through other providers, even if the mortgage this related to was sold via Northern Rock. Please refer to your specific insurance provider with any questions.

I feel my PPI policy was mis-sold. What do I do?

If you feel that your policy was mis-sold, we will review your case.

To start this process, please download, print and complete this questionnaire and post this to us at:

NRAM Mortgage Operations
PO Box 625
Durham
DH1 9JJ

Alternatively, you can call us directly on 0330 159 9610*. If you do call, you will still need to complete the questionnaire as part of the process, but we are happy to post a copy out to you if needed.

Why do I need to complete a questionnaire?

To support your complaint, it is essential that you detail the specific reasons why you believe that your PPI policy was not suitable for your needs at the time of sale.

The questionnaire follows the format prescribed by Financial Ombudsman Service (FOS) and you should complete this in as much detail as you are able to provide.

What will you do on receipt of the complaint or questionnaire?

On receipt of your complaint and/or questionnaire, our dedicated team of Customer Relations Consultants will fully assess our record of the sale against your specific concerns and your personal circumstances at the time.

If we are unable to deal with your complaint, we will contact you to confirm this. We may also contact you to request further information in order to progress your complaint.

Should I use a Claims Management Company to make my complaint?

Rather than talk to a Claims Management Company (CMC), you can find all the information you need about raising a complaint about how your PPI policy was sold on this page. Your complaint will be assessed in exactly the same way if you come to us directly, but you will avoid having to share any potential compensation payments with a Claims Management Company.

Further information on CMCs can be found here, you can also get independent guidance on how CMCs work by visiting the Which? website.

How long should I expect to wait before I hear about my complaint?

A Final Response is usually issued within 8 weeks of receipt of your complaint. We will acknowledge your complaint within 5 days of receipt and, if you have not yet received your Final Response, we will send a further letter at 4 weeks from receipt to confirm the matter is still being looked into.

If we do not issue a final response within 8 weeks, we will issue a letter confirming that you now have the right to refer your complaint to the Financial Ombudsman.

If you do not receive any of the letters as outlined above, please contact us immediately using the contact details already provided above.

What if I am unhappy with the outcome of my complaint?

If, for any reason, you are unhappy with our decision you can contact the Financial Ombudsman Service (FOS).

The FOS website www.financial-ombudsman.org.uk provides additional information on PPI complaints and on how to refer our decision for consideration if you are unhappy with it.

The Financial Ombudsman Service (FOS) will review your complaint using information both provided by yourself and ourselves and will come to an unbiased and independent decision.