Halifax life cover missold

Brokerwise

redbrick555 wrote: »

hi, i wish i had seen this thread 2 years ago, probably too late but i have exactly the same issue as your parents. dont agree with any of the opinions voiced in reply. Irrespective of the generic PPI issue there was a real culture of bank/financial organisation staff being incentivised to sell "products" which fotumately has been debunked. So dont give up, take this up with the financial ombudsman. halifax will stone wall and fight back but if like me your parents remember the inteview as if it were yesterday where we were told this life assurance was a pre requisite to the morgage acceptance and subsequently denied that this was the case at every turn amounts to at best dishonesty or at worst not knowing the culture of what was happening in the branches. Bon chance

Absolute nonsense

dunstonh

dont agree with any of the opinions voiced in reply.

You have the right to disagree but you are wrong.

Irrespective of the generic PPI issue there was a real culture of bank/financial organisation staff being incentivised to sell "products" which fotumately has been debunked.

Maybe so but rarely are complaints upheld on that basis.

but if like me your parents remember the inteview as if it were yesterday where we were told this life assurance was a pre requisite to the morgage acceptance and subsequently denied that this was the case at every turn amounts to at best dishonesty or at worst not knowing the culture of what was happening in the branches.

And the FOS look at the evidence and reject the complaint on that basis.

[Deleted User]

redbrick555 wrote: »

hi, i wish i had seen this thread 2 years ago,

It wasn't posted two years ago!:T

linaraman

I know this is old thred, but I am going through the complaint process with Halifax at the moment. Our TMPP policy didn't have PPI element, but there was other elements which we are claiming for. My argument is that our mortgage was in joint names and TMPP was taken at the same time. The policy was in my partners name. The policy overall was surplus to our requirements as I was able to afford a morgage on my own and my monthly salary was more than enough to cover mortgage payments, utility bills and pay for other living expenses (produced copy of my P60's as evidence). Now then, if it wasn't necessary why would adviser advise us on taking such product, unless it was a condition of lending? Funny enough, the same financial adviser arranged 4 different products at that time, which proves he was pushy and driven by massive bonuses. Also, we remortgaged the house, but apparently this policy is a stand alone product and was running for another 12 years without us realising. You'd probably will say your own stupidity.? The worst part that my partners premiums were coming out from my personal bank account, to which I never agreed or signed up to. At one point I asked for our mortgage payment to start coming out from my personal account, but that is when they transferred all other Halifax Direct Debits without asking. And that is a serious Direct Debit policy breach.
It's been 3 weeks since I filed my complaint. Let's wait and see what they come back with.

[Deleted User]

linaraman wrote: »

apparently this policy is a stand alone product and was running for another 12 years without us realising.

If it was a stand alone policy, it would still pay out whether there was a mortgage or not.

It was up to you as the customer to decide whether to cancel, but why do so if it could still provide cover?

linaraman wrote: »

I asked for our mortgage payment to start coming out from my personal account, but that is when they transferred all other Halifax Direct Debits without asking. And that is a serious Direct Debit policy breach.

How long ago did that happen? Why are you only complaining about it now?

I'm afraid nothing you have said indicates either that you were mis-sold or that the adviser was incentivised to receive "massive bonuses" and so sold you insurance you didn't need (or want).

I'd read the other responses to this thread if you want to know why your complaint is not very likely to be upheld, especially as you didn't have any PPI element in your insurance.

Why do you think being able to afford the mortgage from your salary means that you didn't need Life, income, family insurance etc?

TMPP is still retailed today.

[Deleted User]

Just looked at "Linaraman" 's posting history:
June 2017:

linaraman wrote: »

Hi Guys,
I hope I can find some guidance here as every story is different and I am confused if I could possibly do it myself or better go via the claim company.??
We took out a joint mortgage in Feb 2002 and I came across the document that my husband, who was self-employed at that time took out TMPP in May 2002 which was sold by the Mortgage advisor I believe. The property was re-mortgaged few times since, but as this product is a stand alone, we only noticed and cancelled the policy few weeks ago. We have paid out around £6000 in total over the years and I am struggling to remember how this product was sold to us and if it was possibly miss-sold to us due to the mortgage being in joint names and in the event of my husband being ill I would be able to step in and continue with payments as I was employed full time. So really, we didn't need to have it. If I can remember correctly mortgage advisor was getting commissions on how many policies or products he has sold. I was also almost forced to open a bank account, which I believe happened at the same time.
Any comments would be highly appreciated, as I was really gutted to find out we were paying for this TMPP all these years without having the need for it.
Thank you in advance.

https://forums.moneysavingexpert.com/discussion/comment/72668453#Comment_72668453
July 2012:

Linaraman_in_2012 wrote:

Just a quick update regarding my case to everyone who followed the trail. Just received a reply from Financial Ombudsman which says that Halifax partially admitted their fault and ready to settle for a half amount that I have asked, which is £1809.99. Obviously, it is better than £250 good will payment that they sent me. So, i am definitely happy with an outcome, even though it took me over 6 months of time to achieve this. So, Guys, if you think that you have a small chance to claim your money back, DO IT!!, because the bank will not offer the refund without you asking for it.
Good luck everyone!!

https://forums.moneysavingexpert.com/discussion/comment/54587113#Comment_54587113


Why would someone who allegedly received a refund in 2012, still be seeking redress in 2017? Why bump up an ancient and importantly unrelated thread also from 2012 ?

-taff

Their origignal complaint which you quoted above was regarding the mortgage itself , not the MPPI. Should have read the whole thread

[Deleted User]

-taff wrote: »

Their origignal complaint which you quoted above was regarding the mortgage itself , not the MPPI

"Linaraman" didn't have MPPI. I read that much!

Still odd that he's revisiting the same finance five years on.

-taff

The first time they complained about not being given enough notice they were being moved to an SVR .

This time, they're compaining about TMPP.

Although they say it was sold by a mortgage advisor, which might mean a broker, which means end of complaint.


And there's also the direct debt complaint to be put it too.

Maybe there will also be a complaint that someone sold them a mortgage when they clearly young and naive. I will wait and see.

linaraman

Hi Guys,
Yes, these are two different complaints. First was was settled in our favour and that was a claim for mortgage overpayment due to increased SVR. Cheeky!! At that time everyone seems to be telling that we will not going to receive anything and we did. So, well worth trying. The current complaint is about TMPP, so let's wait and see. There was one other additional problem with this policy or rather than how this policy was set up. As our morgage was on repayment basis, this policy should have been set up the same way on automatically decreasing assured sum. So, in other words, our morgage sum was decreasing every month, this fact should have reflected the premiums accordingly. By paying the same amount every month I was overpaying and as I understand the purpose of this policy is that my morgage be covered in the event of critical illness or death.
As for the Halifax morgage advisor, I was able to dig out all the paperwork and appeared that the same person arranged a mortgage, TMPP policy, Contents & Building insurance and even opened a bank account for me, when I already had two with other banks and said I don't need one. How is that not being pushy and not being driven by the massive commissions. I even managed to find his name on all the documents going back 15 years ago.