iGroup / GE Money Mortgage PPI ~ Please help!!

Rone_2

The same happened to me with GE Money my loan began in 2004..went to Ombudman they also did not uphold the claim..
Have been told to put in a claim for plevin so awaiting the reply, although not holding my breath.

Olli_2

I'm confused, having read this thread.
It appears people are saying that you can't claim PPI back fro products sold before 2015.
Have I read that wrong?

I got my mortgage in 1996 and (I think it was with Bank of Scotland or Royal Bank of Scotland) then it was taken over by G E Money (iGroup) and I paid it off in 2011 (with some hefty fees for early repayment)

I didn't even recall having any PPI but I seem to recall getting the mortgage through the independent broker side of what was then MI Group, or Merchants Investors. (However, it could even have been via my bank Nat West, or some other broker?)

I have the policy number from the GE Money policy but I am guessing the twenty minutes or so I have spent looking into this, so far, is twenty minutes wasted.

Any thoughts?

dunstonh

It appears people are saying that you can't claim PPI back fro products sold before 2015.

I assume that is a typo. You mean 2005. 14th Jan 2005 is the date in question. Most brokers were not regulated prior to that date. So, if you bought via a broker, the broker is likely to reply that its pre-regulation and they do not need to consider your complaint.

I got my mortgage in 1996 and (I think it was with Bank of Scotland or Royal Bank of Scotland) then it was taken over by G E Money (iGroup) and I paid it off in 2011 (with some hefty fees for early repayment)

GE Money/Igroup did not take over either BoS or RBOS mortgages. Perhaps you moved your mortgage from them.

I didn't even recall having any PPI but I seem to recall getting the mortgage through the independent broker side of what was then MI Group, or Merchants Investors. (However, it could even have been via my bank Nat West, or some other broker?)

Merchant investors were tied agents who sold their own insurance products. Not independent. Natwest sold their own product range or those of the insurer they were linked to.

shayzaq

had a morgage with igroup wrote to them in 2012 sent of a letter asking if i had paid ppi went to fos got word back saying broker went burst porchester finance so heard not another thing 3 weeks ago i called up ge money they said yes i did pay ppi unknowing to me of the sum of £3950 woooooshhhh i have asked for another refund reclaim totally ripped off unaware in 2002 till 2005 this was even paid gobsmackes aint the word!!!! i also asked for copy of my paperwork he asked can i ask why u want it strange to needs to replay by 8 weeks fingers crossed,🤞

Vasantha59

Society of Lloyds is the insurance UNDERWRITER. The lenders are their representatives and they, therefore, endorse what the lenders do when they 'underwrite' and agreement. Hence they are ultimately responsible for the sale of the product itself.

dunstonh

Vasantha59 wrote: »

Society of Lloyds is the insurance UNDERWRITER. The lenders are their representatives and they, therefore, endorse what the lenders do when they 'underwrite' and agreement. Hence they are ultimately responsible for the sale of the product itself.

Not true.....

[Deleted User]

Thread is from 2012

pipswife

Hi,
I'm in a similar position. I took out a mortgage with IGroup, who were then taken over by GE Money. I used a broker- no longer in business but I think may have moved property and changed name. I'm checking the director names etc just now. The mortgage was taken out in Dec 2003.
GE Money have directed me to the broker. What should I do next? How do I word any complaint?
Any help would be greatly appreciated.

dunstonh

hat should I do next?

You give up.

Brokers became regulated in Jan 2005. You bought in 2003. So, it was 2 years prior to regulation. You have no access to the FOS or FSCS. You have no-one to complain to.

Debsydoo62

Hi all, newbie here!
I have a very similar scenario to the above (re: Olympian finance/ I Group) also pre-regulation, any advice welcome as to how to proceed?
TIA.