Making a PPI claim for old mortgage

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diymonkey
diymonkey Posts: 91 Forumite
in Reclaim PPI & other insurance
Hi guys,

I needed some advise regarding making a PPI claim. Basically in 2002, I bought a property and took out a mortgage with Birmingham Midshires. I think at the time I was sold some sort of cover.

However, I have no paperwork to prove this. I've tried to download a complaint form from BM Midshires website, but the link is broke.

Can you please advice what I need to do in order for them to be able to process & accept my complaint?

Thanks very much.
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  • dunstonh
    dunstonh Posts: 116,383 Forumite
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    I think at the time I was sold some sort of cover.

    Quite possibly. Most people take out insurances to cover their mortgages. It is the expected thing to do. It is why most mortgage insurance complaints fail.
    I've tried to download a complaint form from BM Midshires website, but the link is broke.

    Why would you be complaining to BM?
    What did they sell you?
    What was wrong with what they sold you?
    Can you please advice what I need to do in order for them to be able to process & accept my complaint?

    Its quite possible you dont complain to BM. They may have no liability for the sale unless you bought one of their products.

    We need more info.
    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.
  • diymonkey
    diymonkey Posts: 91 Forumite
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    Hi dunstonh,

    Thanks for your quick reply. As you can understand, it's a long time ago. I believe a policy product was sold by BM, so whom do I complaint to?

    What info do you require?
  • antrobus
    antrobus Posts: 17,386 Forumite
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    diymonkey wrote: »
    .... Basically in 2002, I bought a property and took out a mortgage with Birmingham Midshires....

    Birmingham Midshires is now a trading name of Bank of Scotland, and therefore part of Lloyds Bank.
    diymonkey wrote: »
    ...Can you please advice what I need to do in order for them to be able to process & accept my complaint?.

    Address and telephone number
    http://www.bmmortgages.co.uk/contact-us/complaints-policy/

    But what exactly is your complaint? You might need a better starting point than " I think at the time I was sold some sort of cover".
  • diymonkey
    diymonkey Posts: 91 Forumite
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    If I remember correctly, I was pressured into purchasing an insurance cover as the customer sales person said it was compulsary as without it I wasn't allowed to get a mortgage.
  • dunstonh
    dunstonh Posts: 116,383 Forumite
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    I only asked as most BM mortgages were arranged by brokers/advisers. Not through their branch network.
    If I remember correctly, I was pressured into purchasing an insurance cover as the customer sales person said it was compulsary as without it I wasn't allowed to get a mortgage.

    There was a period when many lenders had a cross subsidy deal which required you to buy an insurance to get the special deal. That is allowed as long as the insurance is suitable.

    The problem with allegations that you were forced to have are:
    1 - if it is mandatory as a condition of the borrowing or the deal you purchased then it cant be mis-sold.
    2 - if you were lied to and it was no mandatory then you almost certainly have no evidence to support your allegation. That means they will not uphold your complaint unless there is another failure elsewhere.

    Most MPPI complaints fail. It is not like loan/credit card PPI. Indeed, MPPI is still available and sold today. One of only two types of PPI that is.

    Was it even MPPI that was sold? More commonly it is life assurance and/or CIC that is put in place.
    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.
  • diymonkey
    diymonkey Posts: 91 Forumite
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    So if it was through a broker, then whom would one chase for mis-selling?
  • Tom_Coin
    Tom_Coin Posts: 2 Newbie
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    I have just registered to join this forum so that I could ask about a policy related to my mortgage,
    though having read the answers it seems that I am probably not going to have a case for a claim. Though it does seem that there are some double standards at work here?..
    I cannot understand the difference between a company forcing me to take out a protection insurance on say a credit card, and my building society in effect forcing me to take out an expensive life policy to cover the value of the loan (when they already own the asset).
    Many thanks for any clarification on this position from anyone in the know!
    Kind Regards,
    Tom
  • Nasqueron
    Nasqueron Posts: 8,832 Forumite
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    Tom_Coin wrote: »
    I have just registered to join this forum so that I could ask about a policy related to my mortgage,
    though having read the answers it seems that I am probably not going to have a case for a claim. Though it does seem that there are some double standards at work here?..
    I cannot understand the difference between a company forcing me to take out a protection insurance on say a credit card, and my building society in effect forcing me to take out an expensive life policy to cover the value of the loan (when they already own the asset).
    Many thanks for any clarification on this position from anyone in the know!
    Kind Regards,
    Tom

    It is not somehow wrong to have cover like PPI to cover payments for whatever reason, the issue is miss-selling. Being told you had to have a policy when you didn't is miss-selling. However, if the company policy was that you had to have cover or no borrowing then it's not miss-selling as you could just go to another lender that didn't have that. There is no guarantee for the bank that in 3,5,10,20 years the house will be worth what you owe if sold after repossession especially with all the costs associated with it
  • Nasqueron
    Nasqueron Posts: 8,832 Forumite
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    diymonkey wrote: »
    So if it was through a broker, then whom would one chase for mis-selling?

    The broker

    As it was in 2002 it was 3 years before regulation so they can dismiss your complaint
  • diymonkey
    diymonkey Posts: 91 Forumite
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    Nasqueron wrote: »
    The broker

    As it was in 2002 it was 3 years before regulation so they can dismiss your complaint

    Thanks for clarifying that. It's a good thing I asked, otherwise I would have just wasted lots of time sending letters.

    Thank you everyone for your input again.
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