Do I have a PPI claim?

pollywolly71

Hi there,

We remortgaged in 2004 through a mortgage broker. At that time he recommended we take out PPI cover on our mortgage. We took out the cover which was £4340.00 and this was added onto our mortgage. We also didn't realise at the time that it was only a 5 year term, and by the time my husband was made redundant the cover had expired.

We were contacted a couple of years ago by a company (can't recall their name now) as the mortgage broker company we had used had been taken over and was being investigated for mis-selling PPI. They reckoned we had a good claim, but at the time they wanted a fee upfront and as we were only on one income at that time, and unsure how long my husband would be out of work, we couldn't really afford to part with money for the fee.

I am now wondering if I shoud try and purse this myself. Do you think it is worth my while. The policy was with D & D Homecare Ltd and the administrator was Adminacle Ltd, not even sure who to contact.

Thanks.

Just want to add, I was told I had a claim because the premium was added to the mortgage and therefore we would have been paying interest on it aswell.

dunstonh

We remortgaged in 2004 through a mortgage broker. At that time he recommended we take out PPI cover on our mortgage. We took out the cover which was £4340.00 and this was added onto our mortgage. We also didn't realise at the time that it was only a 5 year term, and by the time my husband was made redundant the cover had expired.

Single premium MPPI is bad and should not be done in virtually all cases.

I am now wondering if I shoud try and purse this myself. Do you think it is worth my while. The policy was with D & D Homecare Ltd and the administrator was Adminacle Ltd, not even sure who to contact.

The problem you may have is that your case is 2004. Regulation came in during 2005. Not all firms can use the 2005 date but many can. I suggest you make the complaint yourself as its an easy complaint. If it is covered within the regulatory timescales then the FOS would almost certainly side with you if the firm doesnt. However, if it is not within the regulatory timescales then you have nowhere to take it if they reject your complaint.

pollywolly71

Thank you for your reply. Should I write to D&D Homecare or Adminacle? I still have my paperowork and both of their addresses are on there.

Thanks again.

pollywolly71

I just had a look at the FSA register, and it looks like the broker I used wasn't regulated by the FSA until Oct 2004. We took out the mortgage and PPI in June 2004. They were fined in 2006 regards the mis-selling of single payment PPI.

Does this mean I might be onto plums with any claim as it was just prior to them being regulated?

magpiecottage

A couple of questions:

What is the name of the broker (the firm, not the individual)?

When exactly in the year did you remortgage (before or after 31 October?)

pollywolly71

The firm was Capital Mortgage Connections Ltd and we remortged in the June of 2004.