mis-sold PPI through AWD (Carrington Carr) ??

diddzy

Hi.. I too have recieved the same letter, coulc you please send me anything that will help please? Thank you in advance.

magpiecottage

Write to Legal & General.

Paulh2506

Hi, I am another who has received the same letter and don't know where to start as the PPI is with Assurant and sold by AWD who are now out of business! The PPI premium was addaed to the mortgage and taken out in 2007. I'm a little confused as to where L&G come into it? I too would be extremely grateful to receive the information, many thanks in advance.

magpiecottage

Paulh2506 wrote: »

I'm a little confused as to where L&G come into it? I too would be extremely grateful to receive the information, many thanks in advance.

From 31 October 2004 it became unlawful for just anybody to advise on mortgages - AWD/Carrington Carr therefore became an Appointed Representative of Legal & General. This meant any activity it did that was subject to the Financial Services and Markets Act 2000 (FSMA) would be the responsibility of Legal & General.

That is why, from that point on, Legal & General has to sort out this up front fee for future advice nonsense.

On 14 January 2005 another part of FSMA came into force, covering general insurance. This includes, amongst a raft of other things, Payment Protection Insurance. So if AWD/Carrington Carr sold it on or after that date it did so as an Appointed Representative of Legal & General. So again, Legal & General must respond to any complaints about it.

Paulh2506

Many thanks for this info it's much appreciated. Can I also complain and reclaim back the "ongoing service fee" from them? and what are the implication you refer to regarding the solicitor knowing about the mid sold PPI ? Thanks

magpiecottage

Paulh2506 wrote: »

Many thanks for this info it's much appreciated. Can I also complain and reclaim back the "ongoing service fee" from them? and what are the implication you refer to regarding the solicitor knowing about the mid sold PPI ? Thanks

L&G is saying it will provide the service instead.

However, I would still complain because it was never explained to you that you could instead have borrowed less and avoided paying interest on it for 25 years.

I would also argue that, since L&G has failed to ensure its Representatives treat their customers fairly you have lost confidence in them and wish to arrange your financial planning elsewhere.

Hatebeingrippedoff_2

magpiecottage wrote: »

From 31 October 2004 it became unlawful for just anybody to advise on mortgages - AWD/Carrington Carr therefore became an Appointed Representative of Legal & General. This meant any activity it did that was subject to the Financial Services and Markets Act 2000 (FSMA) would be the responsibility of Legal & General.

That is why, from that point on, Legal & General has to sort out this up front fee for future advice nonsense.

On 14 January 2005 another part of FSMA came into force, covering general insurance. This includes, amongst a raft of other things, Payment Protection Insurance. So if AWD/Carrington Carr sold it on or after that date it did so as an Appointed Representative of Legal & General. So again, Legal & General must respond to any complaints about it.

My Husband had a telephone call regarding an accident/sickness/unemployment policy we took out years ago when we re-mortgaged and was told that we may be able to claim for it being missold. The policy has now expired and I do not now have any paperwork for it but I have been making enquiries and found the name of the company who it was with (Adminicle). They have bene taken over by someone else and I telephoned the company concerned to get further details. they advised me who had brokered the deal as I couldnt remember. We were advised to move away from Halifax and ended up doing a re-mortgage for about double what we originally had. We were told to take out the policy as we had no cover and were pressured into it. I was very hesitant but we were given the hard sell and eventually agreed. we paid a lump sum of about £6,000.00 for the policy which covered us for 6 years and this was paid from the re-mortgage proceeds. on top of this AWD Carrington Carr charged us well over £2,000.00 for their advice which was paid for out of the re-mortgage monies. We have never used them again and have since reverted back to the Halifax. Will we be entitled to claim back the fees they charged and the costs of the policy together with the interest as we will be paying interest on those monies until our mortgage is paid off?. THe re-mortgage and policy were taken out in about 2003 I think. I cannot remember why Carrington Carr got in touch with us in the first place but it was quite a hard sell with telephone calls and visits and pressure to do certain things.

Please help.

Hatebeingrippedoff_2

Now found out that we can't claim against anyone as our remortgage and PPI were done in 2003 which was before Legal & General became an appointed representative of CC. and CC are now in administration and were not regulated by anyone at that time, typical. To say I am annoyed is an understatement, especially as the Directors are continuing to rip people off under the guise of another company. I also found out that C.C. started up a PPI claims company and contacted all of their own customers regarding making claims !.

excchfadvisor

I worked for this company for a number of years as an advisor and can state that I would find it hard to believe that ANYONE can claim to not be aware they had or they were missold PPI.

Every customer signed a form, one of many it must be said, that explicitly laid out what the customer was buying and the implications of adding the PPI premium to the mortgage. Copies of these documents were left with the customer. It is also true that the way it was sold and documented did change between 2002 and 2010, due to the regulations that came in.

dunstonh

I worked for this company for a number of years as an advisor and can state that I would find it hard to believe that ANYONE can claim to not be aware they had or they were missold PPI.

That would go for most MPPI complaints. However, very few complaints get upheld on that basis as it is silly complaint reason.

every customer signed a form, one of many it must be said, that explicitly laid out what the customer was buying and the implications of adding the PPI premium to the mortgage.

Problem is that MPPI front loaded and added to the mortgage is bad advice. It is more expensive as the individual is charged interest they didnt need to be charged and doesnt cover them for the whole term as monthly premium would. 99% of single premium MPPI results in upheld complaints. The FOS will quite correctly not allow consumers to sign waivers or confirmations on bad advice as an excuse to get away with bad advice.