'not covered by consumer credit act'

ladykincavel

Good Evening-I am at the start of the 'reclaim PPI' process and have followed the 'Step by step guide' from 'Martins money tips'.I obtained my credit report and fired off my template letter with my cheque for £1 requesting a copy of my credit agreement-this was to the Cheshire Building Society with whom I had a mortgage-the PPI relates to the extension of the mortgage.

They have replied to my letter thanking me for my request but that-(quote)'' I confirm that this account is not regulated by the Consumer Credit Act 1974.I am therefore returning your paperwork and cheque for £1.......What does this mean? What do I do next?
Thanks

dunstonh

Good Evening-I am at the start of the 'reclaim PPI' process and have followed the 'Step by step guide' from 'Martins money tips'.I obtained my credit report and fired off my template letter with my cheque for £1 requesting a copy of my credit agreement-this was to the Cheshire Building Society with whom I had a mortgage-the PPI relates to the extension of the mortgage.

That was a waste of a £1. MPPI doesnt appear on any agreement. It is a standalone product (as it should be). Luckily you got your £1 back.

They have replied to my letter thanking me for my request but that-(quote)'' I confirm that this account is not regulated by the Consumer Credit Act 1974.I am therefore returning your paperwork and cheque for £1.......What does this mean? What do I do next?

You cannot quote the Consumer credit act as a reason to get information on a debt not regulated under the consumer credit act.

If you are paying MPPI then you dont need any agreement. You just need your reasons for complaint. You havent said what your complaint reasons are but remember that MPPI is the hardest to complain about as most are set up correctly and it was and still is considered best to advice to have MPPI.

ladykincavel

thank you for this advice-I will try to follow it up as I would not have asked for PPI.

dunstonh

I will try to follow it up as I would not have asked for PPI.

If you dont see it as a monthly payment on your current account then you dont have it.

Assuming you dont have it as you wouldnt be asking for details if you had it going through monthly on your bank account, then you have nothing to complain about.

magpiecottage

ladykincavel wrote: »

I confirm that this account is not regulated by the Consumer Credit Act 1974.

That is correct.

A mortgage is regulated by the Financial Services and Markets Act 2000.

mo786uk

As above, first mortgages on a proeprty are covered by the FSMA 2000 not CCA 74.

You could send a Data Protection Act SAR request for £10 and they will have to send you dat they hold on you which may include what you want.