PPI Reclaiming Discussion Part 5

pat137

does anybody know if there would be a case against claiming on the basis of being sold PPI that covers a whole load of things for 50 pound a month, when i only wanted the PPI in case of loss of employment? obviously i was paying for all the other services i didn;t want within that monthly payment, when i would assum if they had a cover that was for unemploymet only, it would have been less to pay monhtly.

dunstonh

pat137 wrote: »

does anybody know if there would be a case against claiming on the basis of being sold PPI that covers a whole load of things for 50 pound a month, when i only wanted the PPI in case of loss of employment? obviously i was paying for all the other services i didn;t want within that monthly payment, when i would assum if they had a cover that was for unemploymet only, it would have been less to pay monhtly.

You would need to have a valid reason for complaint for each segment of the cover. e.g. if it includes life assurance you would need to state why you didnt need life assurance (rare complaint and typically only succeeds with single people, living alone with no children, partner or dependants).

Also, if you said you wanted unemployment cover then that it part of PPI. So, you wouldnt be making a PPI complaint. Standalone unemployment cover was available but typically only via IFAs. Not through tied agents. Tied agents are only authorised to sell their own products. So, if they didnt have a standalone unemployment policy, they could correctly sell an ASU instead and it would not be a mis-sale in that respect.

boombastic

Has anyone got experience claiming back PPI payments on a mortgage with the Skipton Building Society?

pat137

dunstonh wrote: »

You would need to have a valid reason for complaint for each segment of the cover. e.g. if it includes life assurance you would need to state why you didnt need life assurance (rare complaint and typically only succeeds with single people, living alone with no children, partner or dependants).

Also, if you said you wanted unemployment cover then that it part of PPI. So, you wouldnt be making a PPI complaint. Standalone unemployment cover was available but typically only via IFAs. Not through tied agents. Tied agents are only authorised to sell their own products. So, if they didnt have a standalone unemployment policy, they could correctly sell an ASU instead and it would not be a mis-sale in that respect.

Thanks for your reply.

I was single with no children during the time I had the loan. I stated i didn't want to be covered for life insurance, or sickcness or any other of the categories except for unemployment. They told me that they couldn't cover me only for un-employment and if I wanted to be covered for unemployment i must take out the PPI that covers everything.

Is this a mis-sell of the PPI in your opinion or not?

Thanks

dunstonh

pat137 wrote: »

Thanks for your reply.

I was single with no children during the time I had the loan. I stated i didn't want to be covered for life insurance, or sickcness or any other of the categories except for unemployment. They told me that they couldn't cover me only for un-employment and if I wanted to be covered for unemployment i must take out the PPI that covers everything.

Is this a mis-sell of the PPI in your opinion or not?

Thanks

It is not a mis-sale as they can only offer what they offer as they are not independents. If no standalone "U" plan was available then they cant offer it. They are required to offer the most suitable and closet match from their range. You were welcome to say no thanks to that at point of sale and buy via an IFA. However, they are not required to tell you to see an IFA.

Poppy77

Hi

Can someone answer this question for me please?

1. The Ombudsman has found in my favour and upheld my complaint but the bank involved are saying they are willing to make an offer based on how the Ombudsman work out their calculations but they want to make it a gesture of goodwill but not accept any responsibility so my question is will there be a huge difference in the offer they make to me as a "goodwill gesture" compared to the offer if they were accepting responsibility for mis-selling ?

This complaint goes back 13 years

Thank you

-taff

There is no difference in the amount.

Poppy77

Thank you Taff, that was a quick reply

I appreciate it

MissyPage1

Hi, after reading through these posts I have had a dig around at home and found 4 loan agreements (one was a flexi loan) all showing that PPI was added as a single premium on all of them. I do not have any statements for them apart from a printed copy statement for two of the loans showing they were consolidated and the breakdowns of how these were paid when I took out the new loans.

Should I be sending all of this with the form that I have found on this site to HSBC? I have all the account numbers and PPI Refs for them. They date back to around 2001. At the time I was employed with a good sickness and redundancy package. I don't own my own property or have any children.

Just wanted a bit of advice before I sent the forms off.

Thanks

-taff

Yes, send copies.