Reclaiming PPI sold via a broker

Spaffle-eyes

We had PPI sold to us via a broker with our mortgage.
A company called us a couple of weeks ago to say the broker had gone into administration and from their records we were owed PPI of approx £2400 plus interest they wanted to visit us at home and take copies of documents etc. I was very sceptical of this and refused, was I right doing this???
I found all our old insurance documents and when I've checked them the PPI wouldn't even have covered the mortgage payments fully. I also work in the NHS and would have been paid if off sick anyway. Can I still make a claim even though the insurance was done through a broker???

dunstonh

A company called us a couple of weeks ago to say the broker had gone into administration and from their records we were owed PPI of approx £2400 plus interest they wanted to visit us at home and take copies of documents etc. I was very sceptical of this and refused, was I right doing this???

Yes. That is a fairly common scam. There is no list of people owed anything and indeed, brokers only account for 0.2% of complaints at the FOS. Most of which get rejected. The FSCS only uphold 5% against mortgage advisers.

I found all our old insurance documents and when I've checked them the PPI wouldn't even have covered the mortgage payments fully.

That is quite common. Many people are only willing to spend a given amount on coverage.

I also work in the NHS and would have been paid if off sick anyway.

Only for 6 months full pay. MPPI pays out in addition to sick pay. So, unlike most loan and credit card PPI, this is not really an issue.

Can I still make a claim even though the insurance was done through a broker???

no. The insurer has no liability. The broker did.

When was this sold to you - before or after Jan 2005?

Spaffle-eyes

Many thanks for your reply
We were sold the PPI in 1998 and then it transferred when we remortgaged in 2003/4, we remortgaged again in 2007 and as far as I can tell from the paperwork the policy ended and the mortgage advisor sold us another policy but I don't seem to have any paperwork for this as it was all done through a company called commitments (never heard of them)!!!!.
I thought the company contacting us was a scam I was very suspicious as she claimed to be called 'Gemma Smith' when she quite clearly had an asian accent and sounded to be calling from her living room.
I didn't think we would have any chance of a successful claim.

dunstonh

We were sold the PPI in 1998 and then it transferred when we remortgaged in 2003/4, we remortgaged again in 2007 and as far as I can tell from the paperwork the policy ended and the mortgage advisor sold us another policy but I don't seem to have any paperwork for this as it was all done through a company called commitments (never heard of them)!!!!.

Mortgage brokers didnt become regulated for the sale of insurance until January 2005. So any policy sold prior to that date can be ignored. FSCS protection didnt exist until that point either and disregards sales prior to that date.

I thought the company contacting us was a scam I was very suspicious as she claimed to be called 'Gemma Smith' when she quite clearly had an asian accent and sounded to be calling from her living room.

When you read of the current scams, it is fairly common for a very "English" name to be given with an accent that is clearly not.