Welcome ppi claim Help

amersall

"Yes but you wouldnt get any of the cash back with this you would be getting £8500 worth of cash back in 5 years"

But they did not say "at the 5 year point you would no longer have cover for the remaining term of the loan and also, the whole PPI with interest is still on the remaining loan term"
you know this now though dont you Benji as I told you this from the get go.

Ask them to provide the call where the above is said to you, there wont be one.... you were not given enough info on this PPI to make an informed decision, they should not get away with this.

Benji_58

Thanks both for the information.

We had no health issues. And we had a quote for life cover at the time. But as all recordings have not been provided I will be telling FOS this. And why have the FOS after listening to the recordings not requested the returned phone calls.


magpiecottage- The Good Practice notes do they have to adhere to these and recommend what is stated in the notes just want to be sure before putting this to the FOS

Nasqueron

I'll give you an example of a card we still support used by at least one major retailer, not giving more details:

This is an Inter-Tel EVMC, it comes with a 4.3GB hard drive, yes 4.3 - you can get a 1cm square SD card for your phone with 32gb capacity for about 30 quid, let alone physical HD where 1-3 terrabyte is the norm. Apparently it offers 180 hours of storage - probably 1-2 days in a busy office? Mitel bought Inter-Tel in 2007 which gives you an idea of the age of the kit that is still in use

http://telecomspares.com/index.php?main_page=product_info&products_id=764

Benji_58

Had a reply From FOS

"With regards to the telephone calls I appreciate that yo might have felt pressured by the advisor and you were not informed of other options available to you in order to keep your costs down. However these are not complaint points I am able to consider under the mortgage code.
I have considered the points raised regarding the cost of the policy.A copy of the Good Practice notes (MSPG)
However I have to apply the provisions of the Mortgage code which provided that the business is only required to provide a general description of costs. they are not obliged to provide a detailed breakdown or cost comparison.
You have the right to ask an ombudsman to review your complaint. However the outcome is unlikley to change."

Nearly six years of trying and this is the result.

Nasqueron

From an unqualified eye, that particular point seems to boil down to the fact that the bank didn't tell you that the insurance could be brought elsewhere (or the cliche "I went to Waitrose and they didn't tell me I could buy it cheaper at Aldi") - unfortunately if the rules said that they were allowed to promote their own products and didn't have to offer you the choice to compare products then they didn't break any rules, so it would not have been miss-sold.

Brokerwise

This M.C.C.B angle is wrong. The product the OP purchased was a second charge loan (First Plus did not sell 1st charge products) and the MCCB did not regulate them or D4AL so all this is irrelevant to the claim

Benji_58

It was the FOS who told us they where using the mortgage code

Brokerwise

Benji_58 wrote: »

It was the FOS who told us they where using the mortgage code

They are wrong

Benji_58

FOS contacted us Dec 2013 and said instead of the underwritter they where looking at our case (and a number of others) they could now look at cases like this under the mortgage code

Brokerwise

Benji_58 wrote: »

FOS contacted us Dec 2013 and said instead of the underwritter they where looking at our case (and a number of others) they could now look at cases like this under the mortgage code

FOS are making it up as they go along so they can get their fee to look into the case