Carrington Carr Broker Fee and income protection Miss Sold - Reclaim Help

blades72

My wife and I carried out a remortgage and debt reconcilliation through Carrington Carr in 2004, we where nieve at the time to sign up and pay them a £2000 fee also we was pressured into taking out a pay upfront 5 year income replacment policy all added onto the mortgage

We felt very pressured at the time but was scared into taking it out to sort the debt can anybody advise if we have a possible claim for the broker fee recovery and unsused income replacement plan, also im willing to use a firm to help recover the money if anybody can reccomend one

thanks

marshallka

Hi, as this was a single premium attached to the mortgage I believe you have a good chance of reclaiming but as it was sold in 2004 there is a problem if they do not uphold it. If they protest and it has to go to FOS then you would have to find out if they were under the GISC which was a voluntary code before the regulation of all insurance by the FSA in Jan 2005.

I would just make the complaint yourself as usual for the PPI with your own reasons and you then give the firm 8 weeks for a full and final response.

There is a reclaiming guide here

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Don't forget to send all correspondence by recorded delivery. On the guide is a template letter but probably best to try to make your own letter from it as this is mortgage PPI.

Good luck and ask away if you want any other information. I am sure others will come along to post too. Dunstonh is your mortgage PPI help here. I will try and bump if I see dunstonh online.

dunstonh

also im willing to use a firm to help recover the money if anybody can reccomend one

no point wasting your money on such an easy claim, All they will do is create a template letter and send it on and take around 30% of the payout.

Over 90% of single premium MPPI gets upheld by the FOS. There is no justification for what they have done as monthly MPPI would have been cheaper and you would not have paid interest on it for x number of years.

blades72

thanks for the advice woul would you include the broker fee in the claim as well?

dunstonh

brokers are allowed to charge a fee. As long as its on the paperwork you cant claim it back.

blades72

Now had a reply saying compliant not upheld as "policy commenced 9 Jan 2004 complaint recieved 1 Feb 2010 you complaint is statur barred"

Can anybody advise if this is correct what their saying?

dunstonh

Not an uncommon fob off. Now take the complaint to the FOS.

blades72

Anybody else know if the 6 year statute Barr rule is correct?

di3004

blades72 wrote: »

Anybody else know if the 6 year statute Barr rule is correct?

Hi there

More so on charges than PPI, as many have successfully reclaimed as from the 1990's.;)

blades72

the policy ended jan 2010 paid up front on taking out in Jan 2004 so i have put a claim in just outside of six years do you think i still have a potential claim?

di3004

blades72 wrote: »

the policy ended jan 2010 paid up front on taking out in Jan 2004 so i have put a claim in just outside of six years do you think i still have a potential claim?

Yes of course.
Many have been successful going back into the 90's, so give it a go.
Good luck.;)