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  • FIRST POST
    Former MSE Rose
    PPI Reclaiming Discussion Part 5
    • #1
    • 28th Feb 12, 4:40 PM
    PPI Reclaiming Discussion Part 5 28th Feb 12 at 4:40 PM



    Hi all, this thread is for discussing the
    PPI Reclaiming
    article.

    This is Part 5 of the discussion, as the last one was so long (read parts one, two, three and four). To discuss or ask a question about this article, click 'post reply'.

    To read about non FOS claims read this thread.
    Report and read success stories in this thread
    .

    Please remember:

    We're often quite laid back about discussion threads as this is a community after all.

    I'm afraid in the case of the PPI Reclaiming thread we're really going to have to ask you to keep the discussion on topic though, so that people can find the relevant information quickly and easily.

    If you do start making like-minded friends on here and would like to carry on chatting about what you did at the weekend/what you ate for dinner etc, that's fine, but the best way to do that is to go to our local pub the MoneySavers Arms where anything and everything is chatted about, start a thread there, then pop a link in here and suggest you all head over to there to chat.

    Thanks,

    MSE Rose
Page 477
    • jennmark
    • By jennmark 16th May 17, 4:44 PM
    • 57 Posts
    • 73 Thanks
    jennmark
    Hello!

    A couple of years back I used the template letters on here to see if I could reclaim ppi I was fairly certain I hadn't had any but because of the 'you might not have known you had it' possibility I decided to write to all the institutions my husband or I had had finance with over the years, we received fairly prompt replies that we were not entitled to redress as we had never had ppi in the first place, which is what I thought.
    recently I've been getting lots of calls from ppi reclaim companies, when I inform them that I have already investigated and have never had ppi they tell me that the bank's lied to customers and rejected claims they should have paid out for and that they can make the claim on my behalf. I'm not inclined to believe them, especially as they always question if I used a claims company last time, according to them the banks only lied to individuals not the claims companies. Just wanted to double check that I am right in thinking I have nothing to pursue, if I'm wrong I will Inc do the paperwork again, won't be using a claims company

    Thanks for any and all advice
    • zx81
    • By zx81 16th May 17, 5:12 PM
    • 13,182 Posts
    • 13,493 Thanks
    zx81
    They're lying.

    You can always tell when a CMC is lying, because their lips move.
    • dunstonh
    • By dunstonh 16th May 17, 5:34 PM
    • 89,490 Posts
    • 54,952 Thanks
    dunstonh
    they tell me that the bank's lied to customers and rejected claims they should have paid out for and that they can make the claim on my behalf
    Like most things, there is an element of truth in there but not as extreme as the CMC has put it and you dont need the CMC.

    A number of banks have been instructed by the FCA to go back on old complaints that were rejected and review the decision given and in a high number of cases, the bank is changing its mind. This is happening automatically without the consumer needing to contact the bank.

    The CMC regulator has told CMCs that they cannot take a cut against these cases (even if they were the original instigator) unless they get a new authority from the client agreeing to it. So, they are telling people this and trying to get new authorities completed so they can say it was to do with them and they can bill you against it.

    Some banks have gone back to their very old archived records and have found people that were previously rejected as not having PPI and have proactively contacted those people to reopen their complaint. No CMC required.

    So, its more CMC spin on a bit of truth
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • familycooper29
    • By familycooper29 17th May 17, 3:43 PM
    • 1 Posts
    • 0 Thanks
    familycooper29
    Anyone claimed against
    Coventry Building Society,
    Northern Rock Car Loans,
    Cornhill PPI from 1989?
    Arbury Peugeot ref Cathedral cars/Capital car loans.
    Barclays platinun & Gold credit cards,
    Nat West loans mortgage protection insurance with compulsory life insurance and home and contents ins`?
    Commercial Union insurance Mortgage Endownment miss selling? Thanks Terry
    Last edited by familycooper29; 17-05-2017 at 3:45 PM. Reason: missed name
    • societys child
    • By societys child 17th May 17, 4:37 PM
    • 4,540 Posts
    • 4,842 Thanks
    societys child
    Quite possible that people have claimed at some time on policies held with all 7.
    You appear to be asking about ppi misselling?

    If that's the case, yes, I would imagine people have complained (not claimed) to all seven companies you've listed.

    • dunstonh
    • By dunstonh 17th May 17, 5:09 PM
    • 89,490 Posts
    • 54,952 Thanks
    dunstonh
    Nat West loans mortgage protection insurance with compulsory life insurance and home and contents ins`?
    if it was compulsory then it cannot be missold.

    Commercial Union insurance Mortgage Endownment miss selling?
    The endowment issue is mostly over. At this time, most endowments are timebarred from a complaint. You are about a decade late on that one.

    Neither of the above have anything to do with PPI.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Freddy5150
    • By Freddy5150 17th May 17, 9:04 PM
    • 2 Posts
    • 0 Thanks
    Freddy5150
    PPI - Select and Protect?
    Hi,
    This is my first post so please be gentle with me. Can anyone help me, please?

    I used an IFA (attached to a local estate agent) some fifteen years ago to arrange a mortgage with C&G. The IFA sold me redundancy cover also. To be honest, I didn't really want it, but he was pushing me to buy four or so separate policies so just getting one seemed to be getting off lightly: it certainly was pressure selling tactics by the IFA.

    The redundancy cover was with a company called Select and Protect which I paid for about six or seven years before cancelling. My premiums were paid via direct debit to Select and Protect and not C&G. I still a have the mortgage with C&G btw.

    I have two questions:
    1) Is the redundancy cover classed as PPI?
    2) If the answer to question 1 is YES, then who do direct my claim to?

    I am a little confused as all the reclaims appear to be for the banks.

    Thanks in advance to anyone who can help me out with my questions.

    Cheers
    • dunstonh
    • By dunstonh 18th May 17, 1:14 AM
    • 89,490 Posts
    • 54,952 Thanks
    dunstonh
    1) Is the redundancy cover classed as PPI?
    2) If the answer to question 1 is YES, then who do direct my claim to?
    1 - yes
    2 - nobody. IFAs did not become regulated for insurance until January 2005. You bought well before that. Some mortgage brokers may have to consider earlier complaints but you state it is an IFA so that is not likely (its unusual for IFAs to be working out of an EA. Most EAs use mortgage brokers).

    I am a little confused as all the reclaims appear to be for the banks.
    MPPI is a lower risk product. It is still retailed today. One of only two types of PPI that are. IFAs also have the lowest complaint rate of any of the distribution channels. Most complaints against IFAs fail. In terms of PPI, most IFAs wouldnt have done PPI as IFAs are mostly investment advisers. However, where an IFA has done a PPI sale, they usually have much better audit trails than a bank.

    Anyway, yours is pre-regulation and doesnt sound mis-sold even if it had been post regulation.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Freddy5150
    • By Freddy5150 18th May 17, 10:55 AM
    • 2 Posts
    • 0 Thanks
    Freddy5150
    Thanks Dunston for that very detailed explanation. It appears that I may have got myself a little confused as to who actually sold me the mortgage. Checking through my notes it was actually a mortgage broker (as you suspected) and not an IFA.
    Any possibility that I am able to make a claim against the broker?
    Thanks very much for your help.
    • dunstonh
    • By dunstonh 18th May 17, 11:11 AM
    • 89,490 Posts
    • 54,952 Thanks
    dunstonh
    Thanks Dunston for that very detailed explanation. It appears that I may have got myself a little confused as to who actually sold me the mortgage. Checking through my notes it was actually a mortgage broker (as you suspected) and not an IFA.
    Any possibility that I am able to make a claim against the broker?
    Thanks very much for your help.
    Originally posted by Freddy5150
    The vast majority of mortgage brokers also did not become regulated until January 2005 either. However, a small number were members of an earlier body from around 2001 and those ones have to consider complaints made between then and 2005.

    If you look at the three largest mortgage brokers/networks in the country, they arrange 3 out of 5 mortgages and they were not members of that earlier body. The FOS stats show that they are unable to consider most complaints referred to them.

    You can make the complaint and see what happens but the odds are significantly against you when it comes to mortgage brokers. The FSCS said a few years back that it only upholds around 5% of complaints against mortgage brokers. Most of those were single premium MPPI (which is considered bad -regular premium is considered good).
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • mw1
    • By mw1 20th May 17, 2:18 PM
    • 4 Posts
    • 0 Thanks
    mw1
    PPI Muliple new cases...
    Please be gentle as new to the PPI arena...and hopefully I'm posting in a relevant area.

    I used the Resolver tool earlier this year (so straightforward and free) and have had communications from everyone I've contacted to date.

    I'm going to dispute Capital decision so is it best to request SAR or go straight to FOS? I had the same happen with some cases with Barlcaycard and have requested all info they have in between correspondence. Egg Card (now managed by Barclaycard) has been refused, and one policy with Barclaycard is still being looked at.

    My main query is on MINT (from RBS) and offer of 44pence (as refund of premiums paid for approx 3 years - 1999 to 2002). Should I request details (including statements) via a SAR or refer to FOS as they look to get this signed off as acceptance of their offer.

    Any thoughts very welcome.

    Thanks.
    • dunstonh
    • By dunstonh 20th May 17, 3:00 PM
    • 89,490 Posts
    • 54,952 Thanks
    dunstonh
    I'm going to dispute Capital decision so is it best to request SAR or go straight to FOS?
    What will a SAR achieve that you dont already know?

    We dont know your complaint reasons or the reasons you were rejected. So, its difficult for us to comment.

    My main query is on MINT (from RBS) and offer of 44pence (as refund of premiums paid for approx 3 years - 1999 to 2002). Should I request details (including statements) via a SAR or refer to FOS as they look to get this signed off as acceptance of their offer.
    Your complaint was successful. Why would you go to the FOS?
    What evidence do you have that suggests that figure is wrong?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • -taff
    • By -taff 20th May 17, 10:35 PM
    • 7,340 Posts
    • 4,759 Thanks
    -taff
    The FOS is for disputing decisions, a SAR is for checking what information a company have left.
    A SAR won't help a disputed decision, and the bank have already checked it's records in order to ffer you the redress.
    • Moneyineptitude
    • By Moneyineptitude 20th May 17, 10:55 PM
    • 19,285 Posts
    • 9,392 Thanks
    Moneyineptitude
    My main query is on MINT (from RBS) and offer of 44pence (as refund of premiums paid for approx 3 years - 1999 to 2002). Should I request details (including statements) via a SAR or refer to FOS as they look to get this signed off as acceptance of their offer.
    Originally posted by mw1
    If 44p is all the Bank have records of you paying then that's all you will receive even if you refer your case to the Ombudsman. Remember or realise that credit card PPI is only paid on accounts which have an outstanding balance, so if you generally paid your credit card bill during the interest free period you will have paid little or no PPI.

    The time for sending a SAR is PRIOR to complaint, not after.

    Expect any SAR to provide only PPI relevant information the Bank have already informed you of.
    • Paulmincer
    • By Paulmincer 21st May 17, 12:56 PM
    • 1 Posts
    • 0 Thanks
    Paulmincer
    Marks and Spencer Chargecard
    Hi,

    Apologies if there's already another thread on this, but I wondered if anyone has had the same experience as me with M&S? In the late 90s / early 2000s, I tried on a few occasions to cancel my PPI with M&S, only to be told that it was a condition of having their Chargecard. I don't have any records of exactly when I called them, but I definitely did speak to them over the phone about this, but M&S conveniently don't have any records of this as it's too far back so neither they nor the Ombudsman have upheld my claim for a refund.

    I can't believe I'm the only person this happened to, so if anyone has any experience of this please let me know.

    Thanks.
    • princess23
    • By princess23 21st May 17, 3:29 PM
    • 23 Posts
    • 0 Thanks
    princess23
    FGA Capital UK Ltd (Land Rover Finance)
    Hi
    Has anybody had any dealings with the above.Purchased a R.R. Evoque in 2013 and looking at the paperwork invoice it has a couple of things im wondering if they are a hidden PPI charge. First one is a Vehicle Protection Programme cost and secondly a Retail Price Protection cost together totalling £1100.00. Any help would be greatly appreciated.
    • dunstonh
    • By dunstonh 21st May 17, 3:37 PM
    • 89,490 Posts
    • 54,952 Thanks
    dunstonh
    Has anybody had any dealings with the above.Purchased a R.R. Evoque in 2013 and looking at the paperwork invoice it has a couple of things im wondering if they are a hidden PPI charge.
    1 - PPI cannot be hidden.
    2 - It was 2013.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • princess23
    • By princess23 21st May 17, 3:44 PM
    • 23 Posts
    • 0 Thanks
    princess23
    Thank you DunstonH i just read that PPI could be mentioned as coverage, protection or insurance and I am unsure what these amounts are for. Please also explain 2013?
    • Moneyineptitude
    • By Moneyineptitude 21st May 17, 7:44 PM
    • 19,285 Posts
    • 9,392 Thanks
    Moneyineptitude
    Please also explain 2013?
    Originally posted by princess23
    2013 is far too recent to have been sold PPI, so basically you don't have it and are wasting your time looking for it..

    It's a myth that PPI was somehow "hidden".
    • Lilbobz
    • By Lilbobz 22nd May 17, 10:15 PM
    • 1 Posts
    • 0 Thanks
    Lilbobz
    HSBC have upheld my complaint for credit card PPI. I had the card until 2012 but they are only refunding the PPI up to 2006. They said that's when the PPI stopped.

    I find that odd, because if they wrote to me in 2006 to tell me the PPI was stopping then surely they could argue now that I knew about it at that time (my complaint is based around not knowing I had it)?

    I phoned them and they have told me that the PPI was stopped for all cards in 2006, not just mine. But in their letter to me they enclosed a page showing the PPI premium rates which goes right up to the present date.

    I'd be surprised if the PPI wasn't still going in 2012. Is it possible they are just trying to lowball me with their offer in the hope I'll accept?

    Thanks for any help/advice.
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