Help please - Matlock Bank/London Mortgage Co

melpg

I took out a secured loan in Aug 03 from London Mortgage Co and was charged £2800 for PPI which I didn't get back when I paid the loan off.

The credit agreement states that the lender is Matlock Bank T/A London Mortgage Co.

I wrote to London MC who wrote back saying that the issues relate to info I would have received from my broker who were Compass Finance and they gave the address to write to. I wrote to Compass, it came back undelivered, I looked them up on Companies House and they were dissolved in 2008.

I also had a letter from Matlock Bank who said they sold their loan business to Southern Pacific in 2006 and they had forwarded my letter to them. However, I then received a letter from Capstone Mortgages who say that someone called Rainbow Homeloans arranged my mortgage??!!

They gave me the address which I wrote to and lo and behold - it came back undelivered! Same story again - looked them up also and they too have been dissolved.

Sorry for the complications here but I'm not sure what to do next? I do still have the policy booklet which has London Mortgage Co all over it.

Is it worth trying them again? If not, does anyone know what to do if the company responsible has been dissolved?

The letter I got back from London MC in June does say I can refer my complaint to the FSO. Should that be my next step? I would hate to bother them if nothing can be done as I realise they're very busy at the moment!!

di3004

Hi there and welcome,;)

I will leave this one for Dunstonh, who will hopefully be along soon to give you some advise on this.
Being an adviser, Dunstonh should be able to advise you best with this one, good luck.;)

wyebird

Hi
Sorry to Hijack your thread, but I have today been looking for contact details for the London Mortgage company and all of the details on our correspondence are no longer valid. We redeemed a secured loan in 2005, but I think the PPI is still running, we claimed on it once before, and my OH has lost his job again :-(. I know the policy was sold on but I can't find the letter saying who to. I just wondered what details you might have for the LMC? Thank you! I hope you get yours srted too x

di3004

Bumping up for Dunstonh.......:D

dunstonh

The broker/seller is responsible for the sale of the policy.

If they are no longer in business then the FOS will not consider any complaints. You need to complain to the FSCS who will then look it sometime in the next few years..

There are some secured loans where the broker was acting as agent to the lender and the lender takes the liability but I dont know if that is the case here.

melpg

Hi wyebird - no worries!

The address on the reply I got from London Mortgage Co is-

Mortgage Administration
PO Box 88
Cheltenham
GL50 3SG

Good luck!

melpg

Thanks dunstonh

Do you mean that it's pointless to go back to London Mortgage Co? I really don't remember if I even used a broker let alone who they were!

wyebird

Thank you for your help x

There wasn't a phone number on it by any chance?

melpg

There was indeed here you go -

0845 070 0568

That was the number of the person who replied in the Mortgage Administration Dept.

wyebird

Thanks for your help melpg. Found the details but it expired last October. Ah well, worth a try x

BargainGalore

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Stop spamming idiot