Mis-sold Policy - The Mortgage Matters Partnership redress repayments

Just curious to know if other people have made a claim via the Ombusman against The Mortgage Matters Partnership. After a process of several years !! I finally received an offer of redress from The Mortgage Matters Partnership - which was made via the Ombudsman. I accepted this in an attempt to draw a line under the ongoing saga. However, it appears that at the time my offer of redress was made (offering a weekly payment over a 16 week period) in 2015, that Mortgage Matters Partnership had ceased trading in 2013 ! I was not informed of this fact. To say that the offer of payments over the offered 16 weeks has been sporadic is being kind - half of the payments have been received over the last TWO years since 2015, but nothing received since June 2017 ! Some cheques at first were what appeared to be "personal cheques" signed by one of the former Directors of The MMP who then has then gone on to be a Director of a Company called Independent Financial Matters. Several cheques were then forwarded by Independent Financial Matters . Basically this company and the Ombudsman appears to be saying that if and when the company has funds they do "intend" to attempt to forward payments - however if this company doesn't do well then the payments obviously will not be forthcoming and personally I am not holding out much hope of that happening. I would be grateful if anyone who has been in a similar position with claims against The MMP could advise if they have been able to move matters on how they did so. From discussion with the Ombudsman it was indicated that there were many others awaiting payments. If offers are still being made on behalf of The Mortgage Matters Partnership be warned it may pay to take them with a massive pinch of salt if you think you are drawing a line under your claim.

Comments

  • Hi I am currently going through. Complaint with Ombusman regarding TMMP over non certified mortgage & high charges. TMMP have replied with there own letter head stating they have stopped trading in that name but the letter states it is from there insurance department. I will see what happens next.
  • dunstonh
    dunstonh Posts: 116,318 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    TMMP have replied with there own letter head stating they have stopped trading in that name but the letter states it is from there insurance department.

    Trading name does not matter. Legal status of the company is what matters. According to the FCA register, they are showing as authorised from 23/10/2004 to now. They have not cancelled their permissions. The register is updated daily with changes.

    https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfUnAAAV

    If they had stopped, the register would have the status changed from authorised to lo longer authorised. Failing to keep the FCA up-to-date with regulatory permissions is a breach.

    The FOS can accept complaints about mortgages and insurance they sold between 23/10/2004 to now. If they are in the process of cancelling their regulatory permissions in full, then the FOS will not be able to review the complaint.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Yes they are still authorised not dissolved by FSCS so they cannot help. Will I be able to take legal action if they cannot pay compensation ? As the above posts states they have stopped her payment
  • dunstonh
    dunstonh Posts: 116,318 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Sazzle74 wrote: »
    Yes they are still authorised not dissolved by FSCS so they cannot help. Will I be able to take legal action if they cannot pay compensation ? As the above posts states they have stopped her payment

    The FSCS cannot take over until the firm are no longer authorised. The FOS will stop at that point and tell you to go to the FSCS. You then start your complaint all over again.

    Legal action would be futile if the firm close down that limited company. There would be no legal entity to take to court.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • This isn’t PPI the original post is not mine
  • Sazzle74
    Sazzle74 Posts: 5 Forumite
    I’m here for advice not to be put down. Useful comments only please. Some of us lead busy life’s
  • McKneff
    McKneff Posts: 38,819 Forumite
    Name Dropper First Anniversary First Post
    Wow...nobody has put you down
    And you cant dictate who writes what on a public forum...
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • dunstonh
    dunstonh Posts: 116,318 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Sazzle74 wrote: »
    I’m here for advice not to be put down. Useful comments only please. Some of us lead busy life’s

    You dont think people responding value their time too?

    Bloody cheek. I'm off this thread now.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards