MPPI case?

bob69

Hi all,

Here's our MPPI story. As 1st time buyers,we hoped to take out a mortgage with Northern Rock at the end of 2003,during the course of the application, they set up a meeting with a Legal & General advisor, who said we were unlikely to get the mortgage without taking up their PPI policy as well. I am now led to believe that this was common practice at the time & as such will not be deemed a mis-sell, is this correct?
From reading other threads, am I also right in assuming that anything pre-2005 can be dismissed out of hand? Or is N/Rock,with all its previous, an exception to this rule?
Thanks in advance for any reply

dunstonh

they set up a meeting with a Legal & General advisor, who said we were unlikely to get the mortgage without taking up their PPI policy as well. I am now led to believe that this was common practice at the time & as such will not be deemed a mis-sell, is this correct?

They way you recall it or how it was presented may or may not be correct. The actual position is that L&G reps require you to buy insurance through them to get the free mortgage advice. They may have told you that MPPI was necessary for the deal (which is wrong if they did but you cant prove it) or they may have told you insurance is necessary for them to place the deal (which is correct under their terms of business and not a mis-sale).

From reading other threads, am I also right in assuming that anything pre-2005 can be dismissed out of hand?

In this case yes.

Or is N/Rock,with all its previous, an exception to this rule?

Northern Rock has nothing to do with it. They had no involvement in the process.

bob69

Ok, thanks very much for your input,it's much appreciated , even if the answer to my query was more