Bradford Bingley Reject PPI claim!

kingwilliam83

please help!

I took out a mortgage in july 07 with Bradford and Bingley. Our salary multiple didnt quite allow us to borrow the funds we required, so the advisor suggested that if we took the MPPI (Life and critical illness £57 pm) she could speak to someone to authorise our loan-inferring that the only way to get the loan was to take the policy-i assumed this practice was allowed as it reduced risk to the lender, but now i suspect it was mis-selling, do you agree on the face of it?

i have been rejected today by B&B, but i still maintain it was mis-sold-is this because i complained myself as opposed to using a handler?

kingwilliam83

I did a quick google search there and found a no win no fee solicitor who seemed VERY enthusiastic to take on my case, but I would rather keep the whole claim, so i would prefer to fight them myself. Google also turned up an interesting open letter from the FSA regarding PPI misselling and I think I am on firm groudn with my case of MPPI misselling-I presume there is no difference in law in the two (PPI annd MPPI)??

amersall

Go to this link.
http://forums.moneysavingexpert.com/forumdisplay.php?f=187

Title your thread, B&B Mppi,rejection for mis sell.

The guys and gals on this thread will have the knowledge about this type of ppi.

Bear in mind,they are straight to the point, so dont be offended if the answers are not what you want to hear,just so you know!.

dunstonh

so the advisor suggested that if we took the MPPI (Life and critical illness £57 pm) she could speak to someone to authorise our loan-inferring that the only way to get the loan was to take the policy-i assumed this practice was allowed as it reduced risk to the lender, but now i suspect it was mis-selling, do you agree on the face of it?

How you describe it, yes it would be mis-selling as you were told the insurance would have an influence. However, it is an unprovable verbal allegation. So, unless there is something else wrong, you are not that likely to succeed.

i have been rejected today by B&B, but i still maintain it was mis-sold-is this because i complained myself as opposed to using a handler?

You have been rejected as most people are rejected when its just a verbal accusation.

A claims company wont change the situation. Indeed, it is believed that claims companies have a lower success rate. Even the FOS say they prefer personalised complaints using your own words.

I did a quick google search there and found a no win no fee solicitor who seemed VERY enthusiastic to take on my case

Are you sure it is a solicitor? Most claims companies are not solicitors but unqualified individuals who have spotted a chance to make some money.

If it is a solicitor and they go down the legal route then you stand even less chance of winning. The courts require you to prove it was mis-sold. Even the lenders with 99% uphold rates with the FOS have been winning court action.

Google also turned up an interesting open letter from the FSA regarding PPI misselling and I think I am on firm groudn with my case of MPPI misselling-I presume there is no difference in law in the two (PPI annd MPPI)??

I dont think you are on strong ground. Yes, if what you say happened, it is a mis-sale. However, what evidence do you have to support your allegation?

If verbal allegations were believed, then people could just say anything they like and get refunds. It would be chaos. Already, around 1/3rd of complaints are from try-it-ons (some reckon as many as half). It would just become open season.

The other issue is that you say it was MPPI but then in brackets say life and CI. life and CI is not PPI. The audit trail for life and CI advised sales would be far stronger than PPI. They will have a factfind, needs analysis and report. So, unless you have anything showing mis-sale, your case is weak and its an easy rejection.

amersall

Cheers dunstonh x.