Who do I contact to reclaim PPI

HHHelen

Hi there,

I've just been reading about how to reclaim PPI payments, and although I think I was definitely mis-sold, I don't know who to contact.

I used a high street estate agent mortgage adviser to buy my first home just over in June 2004. They sold me a Nationwide mortgage and insisted I buy additional protection, including income protection, through the Countrywide Assured Finacial Services, which were actually policies from Friends Provident.

Do I contact Countrywide Assured Finacial Services who originally set it up or Friends Provident who have taken my monthly premiums?

Many thanks

Helen

di3004

HHHelen wrote: »

Hi there,

I've just been reading about how to reclaim PPI payments, and although I think I was definitely mis-sold, I don't know who to contact.

I used a high street estate agent mortgage adviser to buy my first home just over in June 2004. They sold me a Nationwide mortgage and insisted I buy additional protection, including income protection, through the Countrywide Assured Finacial Services, which were actually policies from Friends Provident.

Do I contact Countrywide Assured Finacial Services who originally set it up or Friends Provident who have taken my monthly premiums?

Many thanks

Helen

Hi Helen and welcome

You contact the ones who sold and set up your policy.

This one I will leave for Dunstonh, who knows more on mortgage ppi etc, and will hopefully be along soon.
Good luck.;)

ojpbay

I have a similar set-up where I have a Nationwide mortgage, set up via Countrywide Mortgage Services.

My question is what can I reclaim.

I was signed up to Friends Provident Mortgage Protection and Personal Protection. When I contacted CMS they seemingly dismissed my claim on the grounds that I don't have PPI. Is this correct?

Many thanks.

dustybin71

Going to keep an eye on tis post as also used a high street estate agent mortgage adviser to buy my first home just over in Sept 1996. They sold me a Nationwide mortgage and insisted I buy additional protection, including income protection, through the Countrywide Assured Finacial Services. This mortgage is now closed, and as it was also an endowment mortgage, I previously put in a claim for wrongly sold endowment........does this affect any claims for mis-sold PPI claims?
I sent a letter to Nationwide yesterday asking them to look into possible mis-sold PPI on this mortgage......see what they come back with.

dunstonh

I used a high street estate agent mortgage adviser to buy my first home just over in June 2004. They sold me a Nationwide mortgage and insisted I buy additional protection, including income protection, through the Countrywide Assured Finacial Services, which were actually policies from Friends Provident.

Friends Provident have never sold PPI. They are a life assurance company. Not a general insurance company.

So, any complaint made about mis-sold PPI when you didnt have PPI is easily rejected.

It is more likely that that it is either Life assurance, critical illness cover and/or permanent health insurance. All of which are pretty easy to justify with a mortgage. Plus, FP only did monthly payments. Not single premium. So, no complaint there either.

although I think I was definitely mis-sold

Seeing as you havent got PPI and havent given a mis-sale reason, why do you think you were mis-sold?

I sent a letter to Nationwide yesterday asking them to look into possible mis-sold PPI on this mortgage......see what they come back with.

Nationwide didnt sell you any PPI so they will reject your complaint.

dustybin71

Nationwide didnt sell you any PPI so they will reject your complaint

Ah ok, so would it be Countrywide I would need to contact?

dunstonh

dustybin71 wrote: »

Nationwide didnt sell you any PPI so they will reject your complaint

Ah ok, so would it be Countrywide I would need to contact?

It would be. However, it is pre insurance regulation for a broker. Plus, you havent given any reasons for mis-sale. You have said you were told you had to have it. Very few complaints get upheld for that reason as its just a verbal accusation that you cannot prove. If it was set up monthly payment (not single as that is bad), you were eligible and had a financial need then they will reject your complaint (ignoring the pre-reg issue)

Also, in the mid 90s many mortgage deals did insist on insurance purchases to get the deal. That was allowed and is actually still allowed. Also, mortgage brokers giving "free" mortgage advise cross subsidise it from the insurance. If you dont buy the insurance through them they will usually charge you explicitly. So, its quite possible that you were told you had to buy the insurance from them for that reason. Again, no issues with that.

Your biggest issue though is with it being 1996.

dustybin71

Your biggest issue though is with it being 1996.



Why is this my biggest issue? Is it because of the time since I took mortgage out???
Many thanks for replies :-) any advice is helpful.

ness79

Hi, I have a similar sort of issue, I obtained a mortgage through a broker in 2002, I was told that I would also need to take out life cover and critical illness cover through their associates Friends provident to enable them to provide a free mortgage service to me. Although I don't feel I was missold this, I was pressured into taking out the policies with them ie I was told that being a first time buyer with little credit history I would find it hard to get a mortgage anywhere else and I was better to go through them and agree to take out these policies as well. My main issue is once I signed up to these I was tied in for 4 years. I was not allowed to cancel the Friends Provident plans within the first 4 years, if i did i was liable to pay the mortgage broker 2% of my original mortgage. Are/were companies allowed to do this basically ? Many thanks

dunstonh

Why is this my biggest issue? Is it because of the time since I took mortgage out???

Because it is before insurance regulation and the broker can refuse to look at the complaint.

I obtained a mortgage through a broker in 2002, I was told that I would also need to take out life cover and critical illness cover through their associates Friends provident to enable them to provide a free mortgage service to me.

Which is fair enough and allowed.

Are/were companies allowed to do this basically ?

yes. And they still are.

p3anut

dunstonh wrote: »

Friends Provident have never sold PPI. They are a life assurance company. Not a general insurance company.

So, any complaint made about mis-sold PPI when you didnt have PPI is easily rejected.

It is more likely that that it is either Life assurance, critical illness cover and/or permanent health insurance. All of which are pretty easy to justify with a mortgage. Plus, FP only did monthly payments. Not single premium. So, no complaint there either.



Seeing as you havent got PPI and havent given a mis-sale reason, why do you think you were mis-sold?



Nationwide didnt sell you any PPI so they will reject your complaint.

I have the same issue as this person, we took an Abbey mortgage out through Countrywide Mortgage Services (based in estate agent) in August 2005 and they sold us two policies with Friends Provident: 1) Mortgage Income Protection Cover and 2) Life or Earlier Critical Illness. Countryside were very pushy with both policies and said that we wouldn't find cover cheaper anywhere else. They also didn't tell us about a cooling off period.
The policies were paid monthly from August 2005 to May 2007.
As far as I understand the Mortgage Income Protection Cover policy with Friends is PPI. Therefore, do I make a PPI claim on the Mortgage Income Protection policy to Countrywide or Friends Provident?