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Scottish Amicable mortgage protection PPI ?
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# 1
tabtrade
Old 07-08-2012, 10:40 AM
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Cool Scottish Amicable mortgage protection PPI ?

Sorry I'm new to all this, I took out a mortgage protection plan with Scottish Amicable back in 2001, it was very heavily sold to us and we were pushed in to it by a financial planning company, it was very expensive (60 a month for a 30000 Mortgage) and we couldn't afford it so we only paid in to it for a few months, my question is would it be worth trying to claim this back as it was only paid for a few months and its over 10 years ago so i doubt they will still have records ?

Any help or pointers much appreciated.
Thankyou
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# 2
magpiecottage
Old 07-08-2012, 11:06 AM
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Scottish Amicable is a life assurance company, not a PPI provider.

So this seems to be a life assurance policy, possibly with Critical Illness cover.

Unless there was an investment element involved, such a policy would not have been regulated at the time of the sale and, since it was not actually sold by an employee of a mortgage lender or insurance company, FOS would have no jurisdiction.

In addition, it is unlikely that, after 11 years, any evidence survives.
I run a consultancy to help Independent Financial Advisers to comply with their rules and resolve complaints. Although I am qualified to, I don't advise consumers for reward.
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# 3
scorpiorising
Old 01-10-2013, 9:58 AM
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Default Further Query

Hi,
I was sold a Scottish Amicable endowment policy in 1998. We were heavily pushed to take Critical Illness Cover protection with this which I am continuing to pay. Can you advise if there is any recourse or grounds to pursue a claim in terms of this being misold this?. Advice appears contradictory re: time limits and regulation around time of policy being sold.

Thanks
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# 4
dunstonh
Old 01-10-2013, 12:26 PM
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Quote:
Can you advise if there is any recourse or grounds to pursue a claim in terms of this being misold this?
It is pre-regulation. It isnt PPI and nothing you have said indicates any mis-sale. So, the answer would be no.
I am a Financial Adviser. 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.
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# 5
magpiecottage
Old 01-10-2013, 12:42 PM
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Quote:
Originally Posted by dunstonh View Post
It is pre-regulation. It isnt PPI and nothing you have said indicates any mis-sale. So, the answer would be no.
It is an endowment so a 1998 sale would be regulated.

However, it is almost certain a complaint about it would now have been timebarred.
I run a consultancy to help Independent Financial Advisers to comply with their rules and resolve complaints. Although I am qualified to, I don't advise consumers for reward.
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# 6
dunstonh
Old 01-10-2013, 12:55 PM
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Quote:
Originally Posted by magpiecottage View Post
It is an endowment so a 1998 sale would be regulated.

However, it is almost certain a complaint about it would now have been timebarred.

Sorry, I was looking at the first post and thought the new one was a follow up. I didn't realise it was a a different person resurrecting a thread from over a year ago about a different product to the one they hold.

As it is an endowment, that means it would have been a need and put in place under an advice process and not a sales process. i.e. you have mortgage of 30,000 that needs paying off in x number of years. To do that you need to have a repayment vehicle. What you are going to use? Endowment, at that time, was a suitable recommendation to meet that particular need. Whether it had CI cover as part of it or not is irrelevant.
I am a Financial Adviser. 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.
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# 7
Les Apted
Old 13-02-2014, 8:35 AM
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Default PPi Scottish Amicable Mortgage protection plan

I have a plan running started 2002 expiry date of 2027,the mortgage payment benefit termination date will be the earliest of ( one of which is )the plan anniversary preceding the life assured's 60th birthday , i will still paying after my 60th birthday i was not aware of this at time tacking the plan .Do i have a case for a claim ???
Thanks
Les
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# 8
dunstonh
Old 13-02-2014, 8:52 AM
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Quote:
Originally Posted by Les Apted View Post
I have a plan running started 2002 expiry date of 2027,the mortgage payment benefit termination date will be the earliest of ( one of which is )the plan anniversary preceding the life assured's 60th birthday , i will still paying after my 60th birthday i was not aware of this at time tacking the plan .Do i have a case for a claim ???
Thanks
Les
Nothing appears to be wrong with what you have said, so what would you be complaining about?
I am a Financial Adviser. 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.
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# 9
Les Apted
Old 13-02-2014, 9:13 AM
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i will still be paying for a plan that will not payout after my 60th birthday.
Thanks
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# 10
dunstonh
Old 13-02-2014, 9:48 AM
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Originally Posted by Les Apted View Post
i will still be paying for a plan that will not payout after my 60th birthday.
Thanks
What makes you think it wont pay out after your 60th birthday?

The policy will pay out on death or critical illness (if that option was selected) at any point during the policy term.

http://www.pruadviser.co.uk/content/...3/49827/49836/
I am a Financial Adviser. 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.
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# 11
davefairbrother
Old 13-02-2014, 1:22 PM
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Hi
I am new to these forums and would like some help with a possible ppi complaint i may have

I have a Royal Sun alliance Mortgage payment protection, which i was monthly for. It is dated back to 1998 but i have the original paperwork and agreements.

I was thinking of taking this complaint directly to the FOS and let them deal with it ?

Any advise would be greatly appreciated
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# 12
Moneyineptitude
Old 13-02-2014, 2:45 PM
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Quote:
Originally Posted by davefairbrother View Post
I was thinking of taking this complaint directly to the FOS and let them deal with it ?
You have no access to the Ombudsman until you've allowed the seller of your insurance the allotted time to consider your complaint as per the correct complaints procedure.

Read this article and follow the simple steps;
http://www.moneysavingexpert.com/rec...loan-insurance
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# 13
Brokerwise
Old 13-02-2014, 2:51 PM
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Quote:
Originally Posted by davefairbrother View Post
Hi
I am new to these forums and would like some help with a possible ppi complaint i may have

I have a Royal Sun alliance Mortgage payment protection, which i was monthly for. It is dated back to 1998 but i have the original paperwork and agreements.

I was thinking of taking this complaint directly to the FOS and let them deal with it ?

Any advise would be greatly appreciated
What is the basis of your claim ?
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# 14
davefairbrother
Old 13-02-2014, 3:04 PM
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Hi Brokerwise

Thank you for your reply,

I was not aware that ppi was placed on my policy, i already had ppi with my mortgage in place then and was told my policy would not include ppi. me and my wife were not aware of this policy altogether to be honest but thinking back we always used to decline ppi
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# 15
antrobus
Old 13-02-2014, 5:10 PM
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Quote:
Originally Posted by davefairbrother View Post
...I was not aware that ppi was placed on my policy, ...
Then what did cover did you believe was being provided by your "Royal Sun alliance Mortgage payment protection" policy?
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# 16
davefairbrother
Old 13-02-2014, 11:00 PM
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i was made to believe it has been put on there to help my application being accepted by royal sun alliance
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# 17
Moneyineptitude
Old 13-02-2014, 11:17 PM
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Quote:
Originally Posted by davefairbrother View Post
i was made to believe it has been put on there to help my application being accepted by royal sun alliance
Unless you can somehow prove this, your complaint is utterly weak.
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# 18
antrobus
Old 14-02-2014, 1:15 PM
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Quote:
Originally Posted by davefairbrother View Post
i was made to believe it has been put on there to help my application being accepted by royal sun alliance
But you said before;

Quote:
Originally Posted by davefairbrother View Post
....I was not aware that ppi was placed on my policy ...
and

Quote:
Originally Posted by davefairbrother View Post
.... me and my wife were not aware of this policy ...
which is something quite different.

And what application were you hoping would be accepted by royal sun alliance as a result?
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# 19
Moneyineptitude
Old 14-02-2014, 2:01 PM
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Originally Posted by antrobus View Post
And what application were you hoping would be accepted by royal sun alliance as a result?
User "davefairbrother" seems completely lacking in any knowledge about how to make a mis-selling complaint or even what his complaint is actually about. I've put him straight on his other thread(s).
Clearly, just as you imply, Royal Sun Alliance didn't provide his mortgage...

Last edited by Moneyineptitude; 15-02-2014 at 12:00 AM. Reason: added user name.
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# 20
magpiecottage
Old 14-02-2014, 11:50 PM
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Originally Posted by Moneyineptitude View Post
The OP seems completely lacking in any knowledge about how to make a mis-selling complaint or even what his complaint is actually about. I've put him straight on his other thread(s).
Clearly, just as you imply, Royal Sun Alliance didn't provide his mortgage...
Except that we are not talking about the OP.
I run a consultancy to help Independent Financial Advisers to comply with their rules and resolve complaints. Although I am qualified to, I don't advise consumers for reward.
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