PPI on Northern Rock Mortgage

stusan

My husband took out a Northern Rock Mortgage in July 2004. All of the paperwork was completed by our financial advisor at her home and my husband met her the following day to sign the form. He didnt bring a copy of the forms home and has no recollection of wether the mortgage protection box was ticked or not. He sold the house in 2009 and has since destroyed all the paperwork but has decided to use a claims company to try and reclaim something.

Yesterday he had a letter from the claim company stating that Northern Rock are saying they have no record of his mortgage. The lady he spoke to told him this is a ploy that loads of companies use when they know they have to pay out but are trying hard not to. He has now sent copies of 6 bank statements (1 for each year) with the mortgage account number on.

Has anybody heard of this ploy?

I am worried that he is making a big mistake in trying to make a claim but am also hoping that he may get something to recover the cost of the £1000 in NR shares he bought without my knowledge 3 weeks before their troubles started.

ACG

I would be surprised if a bank would say they have no knowledge of a mortgage as a ploy.

They would have to have some record of it as it isnt that long ago.

He signed paperwork for possibly the biggest purchase of his life and he didnt see the paperwork?!

dunstonh

Yesterday he had a letter from the claim company stating that Northern Rock are saying they have no record of his mortgage. The lady he spoke to told him this is a ploy that loads of companies use when they know they have to pay out but are trying hard not to. He has now sent copies of 6 bank statements (1 for each year) with the mortgage account number on.

You should see the ploys that the claims companies get up to.

Almost certainly they are not saying that they cant find the mortgage. More likely that they cant find the MPPI.

Has anybody heard of this ploy?

ploy as in using a claims company to make a fraudulent complaint?

I am worried that he is making a big mistake in trying to make a claim but am also hoping that he may get something to recover the cost of the £1000 in NR shares he bought without my knowledge 3 weeks before their troubles started.

NR have no liability for any insurance product you took out through a financial adviser. The liability lies with your financial adviser. So, hopefully, you dont value your adviser as the relationship will certainly sour once your complaint is passed on to them.

As it happens, the financial adviser will almost certainly be able to reject the complaint as being pre-regulation (it didnt come in until 2005). Only a minority have to accept complaints pre-regulation.

has no recollection of wether the mortgage protection box was ticked or not.

So, on the basis he doesnt know if he had it, then how can he make a complaint against the adviser?

handytips

This is truely shocking, if asu was arranged he would have had a policy. People like the OP should be ashamed of themselves. If this landed on my doorstep as a complaint of mis selling ppi and i hadnt arranged it anyway i would be counter sueing the claimee, and believe me i would take them to the cleaners. Shameful

ACG

handytips wrote: »

This is truely shocking, if asu was arranged he would have had a policy. People like the OP should be ashamed of themselves. If this landed on my doorstep as a complaint of mis selling ppi and i hadnt arranged it anyway i would be counter sueing the claimee, and believe me i would take them to the cleaners. Shameful

Go through the forums, theyre full of people wanting to make claims...no just on ppi, life insurance, mortgages everything despite the fact in most if not all cases you can see there was actually a need for it.

Im just waiting to see someone who has made a claim on a policy and still claims it was miss sold....if i read enough threads im confident it will come up.

McKneff

ACG wrote: »

Go through the forums, theyre full of people wanting to make claims...no just on ppi, life insurance, mortgages everything despite the fact in most if not all cases you can see there was actually a need for it.

Im just waiting to see someone who has made a claim on a policy and still claims it was miss sold....if i read enough threads im confident it will come up.

Think you may have missed the few I have seen.

They were advised that even though they had made a claim and been paid out, to claim anyway and when the claim for refund was upheld the total of the payout of the claim that they made would be deducted from their refund.

I agree, truly shocking the amount of people who are jumping on the bandwagon, even those who dont know if they took the protection out.

The world has gone mad.