Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • DaveyCrock
    • By DaveyCrock 11th Oct 17, 2:03 PM
    • 2Posts
    • 0Thanks
    DaveyCrock
    Mortgage PPI Plevin claim - who should I claim against?
    • #1
    • 11th Oct 17, 2:03 PM
    Mortgage PPI Plevin claim - who should I claim against? 11th Oct 17 at 2:03 PM
    In 2003, I took out a mortgage with Alliance and Leicester, who sold me PPI with the mortgage. I have not claimed until now, as I did not feel that the PPI was mis-sold under the original mis-selling criteria. However, I was never advised that A&L would receive commission for selling this insurance, so believe I now have a valid claim under Plevin.

    My problem is, to whom should I send my claim? Within 6 months of taking out the mortgage, I was advised by A&L that Pinnacle Insurance were to become the sole underwriters, and that I should make future premium payments to them (which I did). They susbsequently became Cardiff Pinnacle. Meanwhile, A&L were, of course, taken over by Santander.

    I have used the Resolver service to raise a claim against Cardiff Pinnacle, as they were the last company to whom I made premium payments, but should I in fact be claiming from Santander rather than Cardiff Pinnacle? If so, having commenced a claim against Cardiff Pinnacle, will I still be able to proceed with a claim against Santander?
Page 1
    • dunstonh
    • By dunstonh 11th Oct 17, 3:32 PM
    • 89,851 Posts
    • 55,457 Thanks
    dunstonh
    • #2
    • 11th Oct 17, 3:32 PM
    • #2
    • 11th Oct 17, 3:32 PM
    However, I was never advised that A&L would receive commission for selling this insurance, so believe I now have a valid claim under Plevin.
    Commission disclosure was not required in 2003.

    You complain to santander. Who will almost certainly reply stating that the commission was less than the tipping point under Plevin. Very little regular premium PPI falls foul of plevin.
    • DaveyCrock
    • By DaveyCrock 11th Oct 17, 4:27 PM
    • 2 Posts
    • 0 Thanks
    DaveyCrock
    • #3
    • 11th Oct 17, 4:27 PM
    • #3
    • 11th Oct 17, 4:27 PM
    Commission disclosure was not required in 2003.

    You complain to santander. Who will almost certainly reply stating that the commission was less than the tipping point under Plevin. Very little regular premium PPI falls foul of plevin.
    Originally posted by dunstonh
    Thanks for your reply. However, it seems to be totally contrary to the report on moneysavingexpert.com, which states that the average rate of commission on loan PPI was 67%. Are you saying that loan PPI is different to mortgage PPI?
    • dunstonh
    • By dunstonh 11th Oct 17, 4:41 PM
    • 89,851 Posts
    • 55,457 Thanks
    dunstonh
    • #4
    • 11th Oct 17, 4:41 PM
    • #4
    • 11th Oct 17, 4:41 PM
    However, it seems to be totally contrary to the report on moneysavingexpert.com, which states that the average rate of commission on loan PPI was 67%.
    MSE has given an average. Some loan PPi was in the 90% range. Most regular premium PPI (including MPPI) was around 25-35%. Also, loan PPI dominates the volume of PPI sold. So, automatically, the weighting is towards the upper end.

    Are you saying that loan PPI is different to mortgage PPI?
    yes. Indeed, the FCA did consider excluding regular premium PPI from the Plevin ruling (as can be read in the consultation documents). However, they decided not to complicate matters any more and told firms they should just reject cases when asked.

    That was the right position from the FCA as we have seen one regular premium plevin payout that gave about £200 under Plevin. It was just over the 50% tipping point.

    However, the vast majority is under the 50% tipping point.

    MSE is known for simplifying subjects to keep them short and simple. Accuracy and covering quirks/differences is not its strong point.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,944Posts Today

8,900Users online

Martin's Twitter
  • RT @LordsEconCom: On Tuesday Martin Lewis, Hannah Morrish & Shakira Martin gave evidence to the Cttee. Read the full transcript here: https?

  • Ta ta for now. Half term's starting, so I'm exchanging my MoneySavingExpert hat for one that says Daddy in big letters. See you in a week.

  • RT @thismorning: Can @MartinSLewis' deals save YOU cash? ???? https://t.co/igbHCwzeiN

  • Follow Martin