Old PPI claim

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ceewash
ceewash Posts: 1,341 Forumite
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in Reclaim PPI & other insurance
Recently clearing out old paper work and found we might have been missold PPI on our mortgage taken out 1987.

I have contacted the company Wessex Group using your template. The reply stated that they are not responsible as they took over from "Financial Insurance Group" who had sold the policy to us. They are no longer trading so I am not sure what the next step should be. Would welcome any advice. The mortgage was with the Lancastrian Building Society and they no longer exist.

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  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    so I am not sure what the next step should be.

    Give up.

    You bought the insurance nearly 20 years before regulation started. The firm you bought it via no longer exists. So, you cant complain to them and you dont have access to the FSCS as its pre-regulation. So, game over.

    If it makes you feel any better. Mortgage broker arranged policies account for under 1% of mis-sale complaints and most result in failure. Most MPPI complaints fail too. MPPI is still retailed today. Despite the PPI issues. So, even if you could still complain, odds are that it would not have been successful.
    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.
  • ceewash
    ceewash Posts: 1,341 Forumite
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    Do you think it might be worth just handing it to a PPI company?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    How on earth would that help?
  • ceewash
    ceewash Posts: 1,341 Forumite
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    That's what I was asking?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    It wouldn't.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    ceewash wrote: »
    Do you think it might be worth just handing it to a PPI company?
    They won't be able to complain successfully either. The reasons why have already been pointed out to you. There is basically no one to complain to.

    This is a non-starter whatever you consider doing , I'm afraid
  • ceewash
    ceewash Posts: 1,341 Forumite
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    Message received . Thanks.
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    A claims company wont help because all they do is put your complaint in an envelope and post it to the company responsible. Same as you would do. In this case, the company responsible no longer exists.
    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.
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