Ocean Finance Unregulated 2003

compken

Does anyone have any experience of reclaiming Ppi with an Ocean Finance Loan, I paid a significant sum in insurance and was made to have the ppi as part of the loan agreement.

I had no choice and no offer of alternatives, and when the loan was settled early no mention of any partial refund etc

Please let me knowe if any one has had any experience at all with them.

The payment protection plan was administered by Marketing and Management Services Ltd and Underwritten at Lloyds of London

Thanks

compken

I am trying to decide whether to use a claims handler for this or to do it myself

chrisnewton

yes i won a claim of ocean!

magpiecottage

Ocean Finance & Mortgages Limited has been regulated by the FSA since 31 October 2004. If it subscribed to the GISC code when you took the loan out FOS will claim jurisdiction.

I would suggest you complain direct to the firm first and if you get no joy seek assistance from FOS.

compken

chrisnewton wrote: »

yes i won a claim of ocean!

How long ago was the loan please tell me some details, mine was july 2003

compken

magpiecottage wrote: »

Ocean Finance & Mortgages Limited has been regulated by the FSA since 31 October 2004. If it subscribed to the GISC code when you took the loan out FOS will claim jurisdiction.

I would suggest you complain direct to the firm first and if you get no joy seek assistance from FOS.

Thank you for that suggestion, My loan was july 2003 what do you think about that?

compken

magpiecottage wrote: »

Ocean Finance & Mortgages Limited has been regulated by the FSA since 31 October 2004. If it subscribed to the GISC code when you took the loan out FOS will claim jurisdiction.

I would suggest you complain direct to the firm first and if you get no joy seek assistance from FOS.

It was also a lon that was secure against my house does that make a diffrence ie a second mortgage which was a consolidation loan

magpiecottage

compken wrote: »

It was also a lon that was secure against my house does that make a diffrence ie a second mortgage which was a consolidation loan

It could mean that having cover was more important (you could have lost your home if the repayments were not kept up) but it sounds like it was a single premium added to the loan so FOS is likely to uphold the complaint.