Mortgage PPI help

pooleymm

Mortgage PPI help
Hi,
In Nov 2005 i remortgaged to the Bank Of Ireland to carry out home improvements and used a company called Mortgage Advice Services. The advisor encouraged me to take out PPI even though i would receive 6 months full pay and 6 months half pay if i was off sick from work and unless i was dismissed it was highly unlikely i would lose my job. The premium was included with the mortgage in to one payment which i think disguised it somewhat. The PPI was with a company called Commitments Protection Ltd so is this the company i address my claim to?

dunstonh

The advisor encouraged me to take out PPI even though i would receive 6 months full pay and 6 months half pay if i was off sick from work and unless i was dismissed it was highly unlikely i would lose my job.

MPPI, like many forms of PPI, usually does pay out even if you receive sick pay. However, it does indicate that you probably didnt need it. Unemployment is not a complaint you would get away with as everyone is in a job until they are not. Plenty of people have been in safe jobs until they found out they were not.

The premium was included with the mortgage in to one payment which i think disguised it somewhat.

That is your easy mis-sale reason. Single premium is considered bad with MPPI. It should be monthly payment.

The PPI was with a company called Commitments Protection Ltd so is this the company i address my claim to?

No. You complain to the broker.

magpiecottage

A number of firms traded as Mortgage Advice Services so make sure you choose the right one.

You can find it here.

If your firm is shown as an Appointed Representative go into its entry and click on "Principals". Then click on the firm it represented at the time you were advised and complain to them.

mandywoo_2

I have also written to Commitments Protection for a reclaim as i was under the impression that MAS was no longer trading. I still have the original paperwork from MAS so should I be sending my request there?

pooleymm

There is a Mortgage Advice Services trading at a different address (same city, logo etc) but with a different FSA Number. The status on the register of the old FSA number is "no longer authorised" so should Commitments Protection be my next move? Mandywoo! have you had a reply from Commitments Protection?

magpiecottage

The insurer would have no liability for the advice given by the intermediary. If they were an Appointed Representative at the time you must complain to the Principal - i.e. the firm they represented.

If not, you still complain to the firm itself, if it still exists. Otherwise go to the Financial Services Compensation Scheme.

gbpete

Hi
Have a very similar experience to this one with accord mortgages/MAS/Commitments. We thought we had declined any kind of PPI but also now realise we had a one off payment deducted. Just wondering, did you ever actually receive a policy or policy number as we never received either (who has my money???) :mad: . Should have checked earlier I suppose as it may now be difficult to get some kind of compensation. Please let me know how you get on and I will do the same if we have any progress.

davidjames1701

gbpete wrote: »

Hi
Have a very similar experience to this one with accord mortgages/MAS/Commitments. We thought we had declined any kind of PPI but also now realise we had a one off payment deducted. Just wondering, did you ever actually receive a policy or policy number as we never received either (who has my money???) :mad: . Should have checked earlier I suppose as it may now be difficult to get some kind of compensation. Please let me know how you get on and I will do the same if we have any progress.

Just found out i'm in the same position, accord mortgages/MAS/Commitments I have some details from about my policy from Commitments, but not sure if its a policy, looking into it in detail over christmas,
I'm going to complain, first to MAS as they mis-sold it to me,
I base that on the fact that at the same time, they sold me Life Cover, paid for by monthly premium, if it had been explained frankly that if i had got some PPI paid for by monthly premium it would have been alot cheaper, or even given the choice of adding a single premium to your mortgage, attracting interest, or interest free monthly premiums, like the life cover.

I've had a lot of help on another post https://forums.moneysavingexpert.com/discussion/comment/49542703#Comment_49542703 where i first asked when i realised what had happened,
I the end, if they say no, after trying everything, you haven't lost anything, they've only said no, its worth trying,
And from what i've been told, its easy to do it yourself....