How are brokers effected?

Buns_Mum

Hi

Just wondered how those with cases against brokers for mis-selling are effected by the BBA news? I took out a First Plus loan (single premium policy) but it was arranged by Freedom Finance (now Wilmslow Financial).

Thanks.

magpiecottage

It doesn't directly affect brokers as they were not a party to the JR.

Buns_Mum

Thanks. So there's no reason why my case should be on hold? The case was upheld by an adjudicator at the FOS last September, Wilmslow appealed but for some reason it then went to another adjudicator before being put into the ombudsman queue last December. Not quite sure why it was necessary for the FOS to duplicate their workload; is this the norm? I chased the FOS last week but they said the case was on hold for some reason.

Annisele

Did FOS actually say the case was on hold, or just that it was in a queue? It's not unusual for there to be several months - or even more than a year - between FOS putting a case into the ombudsman queue and it coming out the other end.

Buns_Mum

They actually said it was on hold which seemed rather odd.

DAW2110

For anyone currently dealing with Wilmslow - as at 17 May they went into administration - no further details yet I'm afraid

marshallka

magpiecottage wrote: »

It doesn't directly affect brokers as they were not a party to the JR.

Firstplus were and they are not part of the BBA?

dunstonh

The term broker may be confusing in that respect as it can mean different things.

Buns_Mum

So if Wilmslow mis-sold me PPI on a First Plus loan how am I affected?

marshallka

When was it missold to you in the first place? What date?

Buns_Mum

It was sold to me in November 2005. Adjudicator found in my favour in August last year and Wilmslow appealed, hence now in the Ombudsman queue.