Welcome ppi claim Help

Benji_58

Thanks amersall.
At least we will have answers in Feb

ste57

Hi , not sure if you got anywhere with this , I am in a similar situation to you and now getting fobbed off but FOS firstplus cassidy davis and central trust.

Benji_58

It has been a long time but we have finally heard from FOS.

FOS looking at our case under the Mortgage code this is the reply.

"Iam only able consider your complaint to the extent it relates to a breach of the mortgage code. With regards to sales of insurance

1.A description of insurance services we can arrange
2. whether it is a condition of the mortgage that such insurance be taken out and whose responsibillity it is to ensue that it is taken out
3. whether it is a condition of the mortgage that such an insurance must be arranged by us
4. A general description of any costs fees or other charges in connection with the mortgage which may be payable e.g.fees and insurance premiums.

You have raised a number of reasons but only able to consider to a breach of the code.
The business has provided recordings of discussions that took place. These show that yo were offered PPI no suggestion that you were misled or condition of lending. Credit agreement also described it as optional and the box was ticked.It provided details of the total loan with the interest rate charge.

The above is sufficient to comply with the requirement to give a general description.
I am unable to recommend your complaint be upheld."

We have asked for copies of recordings they provided((2) which we have got.On listening to them they keep going on about taking PPI. Also it states on the second phone conversation they would phone back. This recording has not been provided. This conversation is the one with the most pressure - "would stand a better chance of approval if we took PPI"- "Could save for our daughters wedding"-"It would be like a five year savings Plan"

Seems a bit odd this phone conversation not been provided.
Will be contacting FOS to ask the question why they have not asked for this when it is clear there is a phone conversation missing.
Any advice please

magpiecottage

This is correct Benji 58. However, I suggest you send mp3 files of the recordings to FOS and point out the statements you refer to and the time into the recordings when they were said.

In addition, looking back 3 years, you said.

Benji_58 wrote: »

ppi was £8571.50.

I take that to mean it was single premium. Ask the to look at the MPPI Complaince Board's Good Practice notes. The insurance section (on page 15, I think, although it might be page 14) required them to ensure you were made aware of the full cost over the entire projected terof the loan if it was single premium.

[Deleted User]

magpiecottage wrote: »

I suggest you send mp3 files of the recordings to FOS and point out the statements you refer to and the time into the recordings when they were said.

I could be wrong, but I don't think Benji 58 can do this because the recordings of the call in which the OP alleges those statements were made have apparently not been provided by the financial institution concerned. The alleged statements appear to be "hearsay" from the customer's memory.

Benji_58

Been listening again to the conversations Dial 4 a loan provided to the FOS.
Part 1
"How quick are you looking to go ahead with this?"
"As soon as possible"
"Ok are you looking to insure the loan? In mind the company we are looking to putting you with is First Plus, they are unique to the market in a number of ways. The insurance if you don't miss a payment or late or claim what they will actually do is give you the value of your insurance premiums back in a cash lump sum after 5 years you would actually get back £8571.50 cash back. so it is a real bonus."
"Don't want to make a decision now"
"will call you back"

The call back conversation has not been provided.

Second conversation provided

"Calling to see if you got the documents"
"Yes this morning"
"Have you had a chance to speak to your partner about it
yet"
"Yes we want to know what the payment would be without protection"
"Do you have insurance"
"We are looking to increase the cover that we have that covers our mortgage to cover the loan"
"You would't be able to do that"
"I got a quote we could increase life cover to any amount not bothered about sickness and redundancy"
"Yes but you wouldnt get any of the cash back with this you would be getting £8500 worth of cash back in 5 years"
Silence
"I will need to speak to my partner and give you a call back in half hour"
Call back conversation not provided

If they can provide 2 conversations why not all ?

Nasqueron

Benji, part of the work my company does is support the phone systems of other companies, we deal with some major firms who still use kit that is decades old as they won't pay to upgrade it. One issue with old kit is simply lack of storage space e.g. an integrated voice mail card with a small HD on it maybe 10-20gb which can fill up fairly quickly and stop recording or overwrite old copies. Other times they can just vanish or not record as the card breaks and without backup you are stuffed. It's quite common also to hear recorded messages saying your call MAY be recorded, maybe they all are, maybe some at random are and others not (even if these days of cheap storage mean now every call is recorded, maybe not back then). Sometimes the backup tapes die or get lost or wiped or reused by mistake. Far more likely it was a technical issue than a deliberate loss of your second call.

magpiecottage

I have found the document I referred to in my post above. I was correct!

Benji_58

Hi
Re the above recording's-Quote

We are looking to increase the cover that we have that covers our mortgage to cover the loan"
"You would't be able to do that"
"I got a quote we could increase life cover to any amount not bothered about sickness and redundancy"
"Yes but you wouldnt get any of the cash back with this you would be getting £8500 worth of cash back in 5 years"


Writing a letter to FOS am I right. Are Dial 4 a loan incorrect telling us we wouldn't be able to increase or life cover we had with our mortgage?

magpiecottage

You would probably not have been able to increase the level of cover on the existing policy but could either have taken a new one out to top it up or, more likely replaced it with a whole new one.

This assumes you had no serious health issues - but that would also bring into question whether you could have claimed on the PPI.