Future Mortgages LTD PPI reclaiming?

vlad06

Hey guys

I want to help a family member reclaim their the PPI they had on a secured loan with Future Mortgages.

Does anybody know how to start with this one? I did some research and believe they are now a part of CITI bank.

Anybody had any dealing with them before or perhaps know an address?

Thanks.

Vlad

dunstonh

Does anybody know how to start with this one?

You first need to know why it was mis-sold. So, what is the reason you believe it was mis-sold and what information do you have to support that?

I did some research and believe they are now a part of CITI bank.

Did Future mortgages provide advice to the family member or was a broker used? Was this a first charge mortgage or a second charge loan?

Complaint goes to the seller. Not the lender unless it was an agent of the lender.

magpiecottage

dunstonh wrote: »

Did Future mortgages provide advice to the family member or was a broker used? Was this a first charge mortgage or a second charge loan?

Complaint goes to the seller. Not the lender unless it was an agent of the lender.

I thought Future Mortgages sold through intermediaries rather than directly to the public.

It is also worth bearing in mind that PPI for a secured loan is, in principle, a good idea because if you do not meet the repayments you could end up losing your home.

vlad06

It was put on there without any authorisation/prior consent.

It was definitely mis-sold, believe me.

dunstonh

vlad06 wrote: »

It was put on there without any authorisation/prior consent.

It was definitely mis-sold, believe me.

You put your complaint to the broker then.

vlad06

Apparently this was done directly with Future Mortgages.

Does anybody know any details of where I can complain to?

I found this on the Citi Bank webiste - citibank.co.u k/personal/banking/loans/loans/mortgages.htm?merchant=citi


It has complaint details for Future Mortgages accounts and PPI stuff, have I found the right details then?

magpiecottage

vlad06 wrote: »

It was put on there without any authorisation/prior consent.


It was definitely mis-sold[

So you say, but it was your relation not you that was at the meeting and as I say, my understanding is that Future Mortgages sold through intermediaries.

believe me.

So far you have not said anything that persuades me that a missale has taken place.

vlad06

magpiecottage wrote: »

So you say, but it was your relation not you that was at the meeting and as I say, my understanding is that Future Mortgages sold through intermediaries.


So far you have not said anything that persuades me that a missale has taken place.

It's a good job that I don't have to complain/write to you then isn't it?

dunstonh

vlad06 wrote: »

It's a good job that I don't have to complain/write to you then isn't it?

For all you know, you might. Magpiecottage deals with complaints with brokers/IFAs. So, he is looking at it in the exact way a complaints handler at the other end would. Although, those at banks and building societies are likely to be lower skilled and work under a strange environment that can swing from rejecting everything one minute to upholding everything the next. You dont tend to get that with IFA/brokers as the levels of complaints are far lower and can be individually investigated more thoroughly.

As it currently stands, based on the information you have given on this thread, you have not given any reason that would result with a successful complaint if you did it via a broker.

vlad06

I have just double checked with the family member and they were told that to be accepted for the credit they had to take the insurance out with it.

I'm pretty much certain that that falls under mis-selling am I right?

dunstonh

vlad06 wrote: »

I have just double checked with the family member and they were told that to be accepted for the credit they had to take the insurance out with it.

I'm pretty much certain that that falls under mis-selling am I right?

yes and no.

Yes in that being told that when it is not the case means it was mis-sold. However, no in that that is damned near impossible to prove. If you have evidence then its an easy complaint. if you have no evidence then it is just a verbal accusation which is he said/she said. Very few complaints get upheld on this basis. You typically need another reason to go with it to be successful.