Mortgage Payment Protection Insurance

southend

Thank you Dunstonh, i have no worries now.

avid_saver

It might be worth ringing Carrington Carr and asking them to put you through to 'Consumer Money Matters' It seems they not only sell Single premium PPI but also have a division that allows you to claim it back!!!!
So they tuck one up in your mortgage, then ring you to claim it back. It might be me but isnt that just a little bit wrong?

Google both companies. they are even in the same building

applee

Has anyone been contacted by Infinite Financial management- they said that they could reclaim the MPPI that Carrington Carr arranged for me. Not sure if I beleive them. They said that I had been missold the premium- not sure how they got my details - do Carrington Carr sell information to these companies??

dunstonh

do Carrington Carr sell information to these companies??

No. Ex staff sell lists of clients or they obtain the info through illegitimate means. The data is not in the public domain. So, any company cold calling you but has personal details like that has breached data protection rules.

they said that they could reclaim the MPPI that Carrington Carr arranged for me. Not sure if I beleive them.

Assuming its single premium MPPI then its easy and you dont need a claims company. If its regular contribution (direct debit from your current account) then there is unlikely to be anything wrong with it unless you are not eligible for cover.

southend

Thanks Di for sending me to Dunstonh on the right page to. Sleeping now and frustration better. Ta

jimbeam

caroline25 wrote: »

My claim seems to be getting stranger and stranger, I've now tracked it down to a company call D & D HOmecare Ltd, called them and they said the policy was with Adminicle but now with Assurant Solutions!!!! I'm sending my letter off to Carrington Carr.

Apparently Assurant underwrite these polices.
But obviously wouldnt be responsible for a mis-selling issue.

growler8936

Does anybody have any comments on the following letter that I am about to send off to L&G?

Sale& Advice Complaints
Legal & General Partnership Services
Legal & General House,
Kingswood,
Tadworth,
Surrey, KT20 6EU

Dear Sir or Madam:

AGREEMENT NUMBER

I believe I have been miss-sold a Mortgage Payment Protection Insurance policy by AWD Home Finance Limited and would like to request a full refund of the premium, plus interest paid.

A single premium MPPI was sold when a monthly one would have been more suitable. It was not made clear to me that the premium amount was being added to our mortgage to be repaid with interest throughout the repayment period of the mortgage and that the single premium only covered a limited term.

I am requesting a refund of premium, £x,xxx.00 to repay the amount borrowed to pay for the single premium PPI plus a further repayment to cover the unnecessary interest paid on the mortgage for this miss-sale along with a further interest payment. We would also seek a refund of the broker fee paid due to the bad advice provided.

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.


Yours sincerely,

Any comments appreciated as would like to make sure I get this right.
Thanks

stereo_mike

growler8936 wrote: »

Does anybody have any comments on the following letter that I am about to send off to L&G?

Sale& Advice Complaints
Legal & General Partnership Services
Legal & General House,
Kingswood,
Tadworth,
Surrey, KT20 6EU

Dear Sir or Madam:

AGREEMENT NUMBER

I believe I have been miss-sold a Mortgage Payment Protection Insurance policy by AWD Home Finance Limited and would like to request a full refund of the premium, plus interest paid.

A single premium MPPI was sold when a monthly one would have been more suitable. It was not made clear to me that the premium amount was being added to our mortgage to be repaid with interest throughout the repayment period of the mortgage and that the single premium only covered a limited term.

I am requesting a refund of premium, £x,xxx.00 to repay the amount borrowed to pay for the single premium PPI plus a further repayment to cover the unnecessary interest paid on the mortgage for this miss-sale along with a further interest payment. We would also seek a refund of the broker fee paid due to the bad advice provided.

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.


Yours sincerely,

Any comments appreciated as would like to make sure I get this right.
Thanks

Just a couple of points: -

1. Have you got a copy of your demands and needs statement from the time the advice was provided, as this might detail why a single premium policy was recommended over a monthly policy.
2. Also the broker fee that you paid, was it paid for insurance advice?? If not then you are unlikely to be able to claim it back. I would check your initial disclosure document from the time of the application, as this will detail what the fee was charged for.

dunstonh

I concur with mike.

The single premium MPPI should be easy but trying to get back the broker charge in relation to the mortgage is unlikely. It would be highly unusual for the fee to be in relation to the insurance.

Remember that if your complaint is upheld, the result will be that either the policy is voided (and the commission clawed back) or the broker will have to repay the premium plus interest. So, they are going to lose out on their remuneration/profit on the insurance plus more

growler8936

Thanks guys. Will amend and get it off to them.