MPPI - an overview
MPPI was an insurance policy designed to protect your loan repayments in the event you become unable to work due to accident, sickness or unemployment. Your insurer would make monthly loan repayments on your mortgage until you were able to make the payments again, or until the maximum payments under the policy were made on successful claims.
Did Skipton offer MPPI on its mortgages?
Yes, we used to offer MPPI, sometimes called Accident, Sickness and Unemployment cover (ASU). The monthly MPPI premium would be paid alongside the monthly mortgage payment. No interest was charged on the insurance premium where payment was made on the due date and the policy could generally be cancelled at any time.
How do I know if I had MPPI?
Details of the cover would have been provided in your mortgage offer, on your annual mortgage statements or your annual insurance schedule.
If you're unsure if you had MPPI you can call us on 0345 850 1711 to check. We will ask you for your mortgage account number, full name and address, along with the address of the property the mortgage relates to. If your check comes back positive and you wish to make a complaint about its sale, you can then move to complain.
You must allow 8 weeks (40 business days) for your MPPI check to be completed before making a complaint ahead of the deadline.
We are responsible for investigating MPPI complaints for the following:
Skipton Building Society, Scarborough Building Society, Chesham Building Society, Amber Loan, Amber Personal Loan, Amberloan, Amberloan Protect and Skipton Personal Loan. From 1 October 2018, we will also be responsible for investigating complaints for Holmesdale Building society.
If you still hold a Skipton MPPI policy
What to do if you have MPPI and would like to make a claim
Check your policy to see if you are covered for the claim you want to make. Also check any exclusions which may apply. If you are not sure whether you can claim, please contact the administrators who will be happy to help you, or contact us on 0345 850 1711. To contact the administrators for a claim form call 0330 102 6032.
Please have your policy number to hand, you can find this on your personal insurance schedule.
You can find more information by downloading the following documents:
Why is Skipton working with Canopius Managing Agents Limited?
Canopius Managing Agents Limited is a Lloyd's of London insurer that delivers specialised mortgage-related insurance products. They have a solid reputation within the industry, which is why we have partnered with them. Your premiums are held under trust, which means should anything happen to Canopius Managing Agents Limited, your claims will still be honoured. This information only relates to policies managed by Canopius Managing Agents Limited, taken out after 1 March 2010. If you took out a policy before this date, please check your policy documents or contact our helpline on 0345 850 1711*
Skipton Building Society MPPI is underwritten by Lloyd's Syndicates 4444/958. Lloyd's Syndicates 4444/958 are managed by Canopius Managing Agents Limited. Canopius Managing Agents Limited is a managing agent at Lloyd's and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number 204847. Canopius Managing Agents Limited is registered in England and Wales number 01514453. Registered office: Gallery 9, One Lime Street, London, EC3M 7HA.