LTSB Mortgagesure PPI

Soapyjoe_2

Hi,

back in 1999 I took out a mortgage with LTSB. The salesman in the bank said that the PPI went hand in hand with the mortgage and that I had to take it. I have since made a complaint to LTSB and they have not upheld my complaint. They say they have evidence that confirms I knew what I was signing up for with regards to the mortgagesure cover.
Should I proceed to the FOS with my complaint and do I stand any chance of getting my claim upheld?

Thanks in advance

dunstonh

Should I proceed to the FOS with my complaint and do I stand any chance of getting my claim upheld?

If that is your only reason for complaint then its an easy rejection and you dont see the FOS changing it. You are making a verbal allegation with no evidence to support it. Very few complaints succeed on that basis unless there is another reason involved that can be proven or they went through an auto payout process.

Soapyjoe_2

Thanks for your reply. When I spoke to LTSB on the telephone the operator basically told me to go to the Ombudsman as there was a very good chance the decision would be reversed. I don't know if he was dropping a hint or just trying to get me off the phone.
What reason would I need to have for the policy to be misold to me?

[Deleted User]

Soapyjoe wrote: »

What reason would I need to have for the policy to be misold to me?

You can't just make up a new reason for complaint! You have complained to the Bank on the basis that you were told you had to take it. The Bank have countered this with evidence that your complaint has no substance.
You are now entitled to take your original complaint to the Ombudsman
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step4

The operator you spoke to has no way of knowing whether FOS will overturn the Bank's rejection, but you won't know unless you try.

You can expect a wait of many many months.

dunstonh

When I spoke to LTSB on the telephone the operator basically told me to go to the Ombudsman as there was a very good chance the decision would be reversed.

That person would face disciplinary action for breaching FSA guidelines as well as internally breaking Lloyds rules and could face the sack. You cannot imagine a real complaints handler saying that as their calls are recorded and they should know the rules. A call centre telephone answerer on the other hand will say all sorts of rubbish without knowing it.

What reason would I need to have for the policy to be misold to me?

Do you actually have a genuine complaint or are you attempting a fraudulent/try-it-on complaint as a compensation chaser?

You shouldnt be asking me what reasons you were mis-sold. You need to be telling them. What you have said so far is about as weak as you can get as reasons go.

MPPI has the lowest upheld rate of all the different types of PPI. The banks set up their MPPI correctly as monthly premiums (so the single premium complaint doesnt work). It is an important insurance to have as your house is at risk. It is not like minor debts like loans and credit card. It can still be mis-sold but you need a provable or factual reason. Not an unprovable verbal allegation that may or may not be truthful.

Soapyjoe_2

I did not ask for a reason to give to the Bank. I have already logged my reason with LTSB as to why I was mis-sold. You stated that it was not a valid reason for a complaint. I, in turn, was asking what is a valid reason. I do not need a reason supplied to me.
I thought this forum might offer some help-I was wrong! You lot are as bad as the Banks. This will be my last post on this forum.

Goodbye

[Deleted User]

Soapyjoe wrote: »

You lot are as bad as the Banks.

Do you expect us to simply tell you what you want to hear? We're not the telephone operator "hinting" that FOS will overturn your rejection!
You've asked questions and we've answered them factually. How is that unhelpful?

dunstonh

I thought this forum might offer some help-I was wrong! You lot are as bad as the Banks. This will be my last post on this forum.

We are not here to help you commit fraud or go with try-it-on compensation chasing.

Soapyjoe_2

Commit fraud? How dare you! I have lodged a PPI claim and it has been rejected. I have been paying PPI for over 10 years and I asked for advice on this forum. I did not ask for hints on how to get compensation from a bank. Hardly someone chasing compensation. I would say it was a genuine claim. When the first reply told me it was a reason for a claim, I simply asked what was.
Next thing I know, several of you are bullying me. I hope you are happy with yourselves.

dunstonh

You were the one asking for reasons why for using to get it classed as mis-sold.

Being told to tell the truth and not inventing reasons is not bullying. You were asked if it was a try-it-on. You were not accused. Yet you suddenly went defensive rather than just say you had a genuine reason and what it was.

[Deleted User]

Soapyjoe wrote: »

Next thing I know, several of you are bullying me.

I hope you reported those several!:p