PPI Reclaiming Discussion Part 5

antrobus

BartyBoy wrote: »

..Please tell me if there are any other ways that I can try to complain the two mis-sold PPI policies.

Court.

Although you may find that the Limitation Act applies and that your case(s) would be statute barred.

dunstonh

FOS looked at the complaint and told me the case was out of their regulation zone – the mis-sold happened in Oct 2000. Although I did appeal to FOS and requested an ombudsman to review my case, I had a response from the ombudsman saying my complaint could not be looked into by FOS.

Regulation didnt start until January 2005. Most small firms did not become regulated until then. The banks were members of an earlier scheme which is why they have to go back further.

You have no right of access to the FOS for pre-regulation cases. So, that is correct.

The second PPI happened in September 1998, and based on the experience I had with FOS for the first complaint, I take it FOS will not look into the second complaint for me too. I did try writing to the underwriters to make a complaint directly and both of them again rejected my complaints. The total amount that I have paid for both policies was around £1,200.

Depends on the retailer you bought it through as to whether they regulated at the time. Their complaint response should state whether they give permission for the FOS to be available to you or not. If it says they do not then you will have no access to the FOS.

Please tell me if there are any other ways that I can try to complain the two mis-sold PPI policies.

You can try the courts. Not many people use this method as it can result in you getting costs and most cases are barred as they are over 15 years ago.

Lady_Antonia

I was told I had to take out a 'mortgage guarantee policy' as a condition of my first mortgage. I did this despite being a civil servant and knowing that my job was pretty secure (then, if not now!), and also despite having life insurance policies. I took out this insurance through a broker and I don't think it was with the bank that provided the mortgage - Abbey National - but I now have no idea which company it was (although Sun Alliance rings vague bells). The mortgage offer states that the bank would send the first premium to the insurance company on completion so they did have a record of it. Is this PPI? Would Santander have records going back this far?

dunstonh

I was told I had to take out a 'mortgage guarantee policy' as a condition of my first mortgage.

Quite common in that era.

I did this despite being a civil servant and knowing that my job was pretty secure (then, if not now!), and also despite having life insurance policies.

Your job has nothing to do with MIG and life assurance does not either.

I took out this insurance through a broker and I don't think it was with the bank that provided the mortgage - Abbey National - but I now have no idea which company it was (although Sun Alliance rings vague bells).

MIG was not arranged via brokers. It was charged by the lender to protect them. It was not a product that could be bought independently.

The mortgage offer states that the bank would send the first premium to the insurance company on completion so they did have a record of it. Is this PPI?

MIG was either paid with the first payment of the mortgage or could be paid over a period. It is not PPI.

Abinail

Moneyineptitude wrote: »

Where did you "hear" this and when? Redress is defined by the regulator as a refund of all PPI paid plus 8% simple interest. You therefore receive no more or less than this, but you can hardly contest the redress amount unless you can show you paid more.

It was ages ago to be fair. Probably when it all first started. Just want to make sure I'm getting what I'm owed. Thanks for your help

steevio_uk

Hi all, sorry if this has been asked before, but there is so much information that I actually am struggling to find a concise answer!

I have 5 accounts that I could claim on.
April 2011
December 2011
The other 3 are from 2014 and 2015

It seems that you're only really eligible for a claim for accounts started 2010 or earlier, is this the case?
I know the advice is 'just go for it - you have nothing to lose' but using MSE's Resolver tool, the dropdown for the account start year only allows up to 2010, which further gives me this impression.

All advice much appreciated.

dunstonh

It seems that you're only really eligible for a claim for accounts started 2010 or earlier, is this the case?

No. You are entitled to complain about earlier cases. It is just that most providers had pulled out of the market in the bad areas of PPI by 2010 or had tightened up on their processes by then.

I have 5 accounts that I could claim on.
April 2011
December 2011
The other 3 are from 2014 and 2015

Are you sure you had PPI with these?
2011 ones are possible but already into the known missale period and 2014/15 are well after loan PPI stop being offered and the only two decent types of PPI were still available.

I know the advice is 'just go for it - you have nothing to lose' but using MSE's Resolver tool, the dropdown for the account start year only allows up to 2010, which further gives me this impression.

You do realise that you are making a complaint with allegations of what was done wrong. In some cases, this could affect the employment of the staff member (those regulated individuals who have to keep a register of complaints against them - whether upheld or not) or small businesses where PI insurers penalise for complaints even if not upheld.

[Deleted User]

steevio_uk wrote: »

I have 5 accounts that I could claim on.
April 2011
December 2011
The other 3 are from 2014 and 2015

You can make a complaint about PPI from any year, but your chances of even having the insurance diminish in recent years because Banks and other financial institutions ceased to offer it!

I doubt very much you have PPI dating back only from 2014 and 2015, for example.

So, did you even have PPI? No point "complaining" if you didn't.

steevio_uk

Guys, I'm just on a bit of a fact finding mission before I even know what I can, cannot do or am even eligible to do.

dunstonh wrote: »

Are you sure you had PPI with these?

You do realise that you are making a complaint with allegations of what was done wrong. In some cases, this could affect the employment of the staff member (those regulated individuals who have to keep a register of complaints against them - whether upheld or not) or small businesses where PI insurers penalise for complaints even if not upheld.

Moneyineptitude wrote: »

You can make a complaint about PPI from any year, but your chances of even having the insurance diminish in recent years because Banks and other financial institutions ceased to offer it..... So, did you even have PPI? No point "complaining" if you didn't.

This is it. I see the advice banded about elsewhere that 'you may as well find out, you have nothing to lose'.... but I don't really agree with that as it's wasting people's time and resources.

This is why I'm asking the question as, quite simply, I do not know.

What I don't want to do is waste my own time, waste other people's time (as well as holding up other genuine cases) and - not least - get anyone into trouble for it, hence why I'm getting my facts straight.

I'm pretty sure I've never had any PPI and this seems to be the case.
It just gets a little confusing against your own knowledge and suspicions when there's so much of this 'you probably had it without knowing' talk and other places urging you to check to see whether you may have had it.

I'm pretty sure I'd be wasting my time, though I never knew for sure.
You guys have helped me confirm this suspicion and I won't be making any claim for the sake of some speculative attempt at grabbing money when there's many others out there that have genuinely been done over.

Cheers

[Deleted User]

You can certainly simply ask your lenders if you had PPI without making any speculative "complaint".

However, in your case, such recent finance is guaranteed not to have had PPI attached, unless it is Mortgage PPI.