We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Can I reclaim PPI thru the Broker
robbielogue
Posts: 5 Forumite
Hi, wonder if you can help. I took out a secured loan with a lump sum insurance policy which I had to pay in full when I paid the loan off. I have contacted the provider to register a mis selling claim, however they have told me they would not be liable as the loan was arranged through a broker and have told me to contact the broker directly. The problem is the broker is no longer in business, does anyone know what I can do? Thanks
0
Comments
-
robbielogue wrote: »Hi, wonder if you can help. I took out a secured loan with a lump sum insurance policy which I had to pay in full when I paid the loan off. I have contacted the provider to register a mis selling claim, however they have told me they would not be liable as the loan was arranged through a broker and have told me to contact the broker directly. The problem is the broker is no longer in business, does anyone know what I can do? Thanks
If the insurance really was not arranged by the lender, it happens now and again, go after the insurance company. I would make sure that the lender is not really at fault as this is where the buck normally stops.I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
What year was this taken out?robbielogue wrote: »Hi, wonder if you can help. I took out a secured loan with a lump sum insurance policy which I had to pay in full when I paid the loan off. I have contacted the provider to register a mis selling claim, however they have told me they would not be liable as the loan was arranged through a broker and have told me to contact the broker directly. The problem is the broker is no longer in business, does anyone know what I can do? Thanks0 -
the loan was taken out in20020
-
If it was taken out since Jan 2005 then you could have seen if the FSCS covered them but definately would not as 2002.robbielogue wrote: »the loan was taken out in2002
I would suggest asking FOS if they would take the complaint against the insurer as that is what FOS are looking into now and have accepted quite a few complaints like this. DO you know who the insurer/underwriter was?0 -
robbielogue wrote: »the loan was taken out in2002
Is it current or redeemed? If redeemed, what year?I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
Not sure who the insurere was, I paid the loan off in 20030
-
robbielogue wrote: »Not sure who the insurere was, I paid the loan off in 2003
Hi there I would contact them for the policy details, ask them to send them in the post, they should do this on request and the insurer details should be enclosed on the policy of whom you should write to.;)The one and only "Dizzy Di"
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards