Mis-sold PPI and reclaim

Joe12

Can anyone help?

I took out a secured loan, by way of my mortgage, with Black Horse Ltd, December 2004 and wish to reclaim the charges against a mis-sold payment protection policy.

At the time of entering into this agreement I declined the need of this policy, but was told that the loan would not be approved without the payment protection policy, due to my credit rating.

I have subsequently written to Black Horse Ltd to reclaim the charges, but have been informed that I had all the opportunity to cancel, based on the agreement cooling off period. Whilst this may be true, I still feel I was mis-sold and mislead, into thinking that no other lender would lend, due to my credit rating. Is there anything I do challenge this response?

Also within my original letter I'd referenced the Financial Ombudsman, if their response was unsatisfactory and was provides with the following:

'Firstly, I note that you refer to the Financial Ombudsman Service. Although Black Horse Ltd is now subject to the Financial Ombudsman Scheme for General Insurance activity, this was only from 14 th January 2005. As the policy you refer to was entered into prior to this date, this will not be a matter the Financial Ombudsman can consider should you decide to contact them'

Again is there anything I do challenge this response?

di3004

Joe12 wrote: »

Can anyone help?

I took out a secured loan, by way of my mortgage, with Black Horse Ltd, December 2004 and wish to reclaim the charges against a mis-sold payment protection policy.

At the time of entering into this agreement I declined the need of this policy, but was told that the loan would not be approved without the payment protection policy, due to my credit rating.

I have subsequently written to Black Horse Ltd to reclaim the charges, but have been informed that I had all the opportunity to cancel, based on the agreement cooling off period. Whilst this may be true, I still feel I was mis-sold and mislead, into thinking that no other lender would lend, due to my credit rating. Is there anything I do challenge this response?

Also within my original letter I'd referenced the Financial Ombudsman, if their response was unsatisfactory and was provides with the following:

'Firstly, I note that you refer to the Financial Ombudsman Service. Although Black Horse Ltd is now subject to the Financial Ombudsman Scheme for General Insurance activity, this was only from 14 th January 2005. As the policy you refer to was entered into prior to this date, this will not be a matter the Financial Ombudsman can consider should you decide to contact them'

Again is there anything I do challenge this response?

Hi there

I would contact the FOS yourself here and see what they have to say.
Some here have done this and again with Black Horse, and with loans prior to Jan 2005.
Give them a call and please let us know what they say, as this would be helpful for others.
They may still consider looking but make sure with them first, ask them are they able to investigate a complaint of a pre 2005 PPI mis selling case.

Good luck and contact them on the link here:
http://www.financial-ombudsman.org.uk/contact/index.html

Joe12

Thank you. I'll provide feedback once I've spoken to them

marshallka

Joe12 wrote: »

Thank you. I'll provide feedback once I've spoken to them

Yeah, let everyone know as there are others in the same boat.

Good luck

Joe12

This maybe a long shot but,

A further irregularity which may indirectly support my claim, relates to the independent witness signature, to action the loan. My independent witness signatory was supplied by the sales rep, dealing with my loan.

1. Is this acceptable practice that a member of staff can act as my independent witness signatory?

2. Or could this be viewed as a further example of hard sell, along with failing to observe correct financial procedures,considering that Black Horses's loan procedure documentation state the following:

All copies of the mortgage document now need to be signed in the presence of an independent witness. This must not be a relative. The witness should then sign and date the mortgage document

What does independent witness truly mean?

marshallka

Joe12 wrote: »

This maybe a long shot but,

A further irregularity which may indirectly support my claim, relates to the independent witness signature, to action the loan. My independent witness signatory was supplied by the sales rep, dealing with my loan.

1. Is this acceptable practice that a member of staff can act as my independent witness signatory?

2. Or could this be viewed as a further example of hard sell, along with failing to observe correct financial procedures,considering that Black Horses's loan procedure documentation state the following:

All copies of the mortgage document now need to be signed in the presence of an independent witness. This must not be a relative. The witness should then sign and date the mortgage document

What does independent witness truly mean?

Shouldn't the witness have known you for sometime etc. I thought that was usual??? Don't quote me though.

melorablack

I have been told that the witness could be the secretary, a mate of yours or some guy off the street who happened to be walking past! :eek: and I was told this by a bloke selling secured loans while I was investigating a mis sale :rolleyes: So nothing would surprise me

ILW

Witnessing is a bit of an odd one. They generally cannot be relatives, but can be friends. They can also be complete strangers. Registrars have been known to pull people off the street to witness marriage documents etc. I have witnessed signatures on legal documents for a law firm based in our office complex, but have no way of being certain that the person signing is who they say they are.

dunstonh

A character witness will require knowing the person but a signature witness doesnt.

The rep or any individual who was present could have acted as witness with no breach.