ppi through a 3rd party

rhydboy

i bought my ppi cover via an independent financial advisor who set up my new mortgage.can i still claim against them?

roonaldo

why, whats wrong with it? nothing wrong with having PPI.

dunstonh

rhydboy wrote: »

i bought my ppi cover via an independent financial advisor who set up my new mortgage.can i still claim against them?

Advisers only account for 0.2% of complaints at the FOS and the majority are rejected (and by the FOS as well).

unlike banks, independents are personally responsible. So, you would be making an allegation against an individual who will suffer the stress and anxiety and cost personally for dealing with that complaint and it will go on their record and PI insurance even if complaint rejected. So, it will burn your bridges with them. They may also inform any other local advisers as well that are part of the same network. if the adviser considers the complaint to be opportunistic or fraudulent then they may come after you for costs.

So, given that we know MPPI has the lowest success rate of any type of PPI and IFAs have the lowest complaint rate of any distribution channel and have recently been commended by the FOS for the quality of their file keeping and showing they know their clients, what exactly do you wish to complain about?

(my post is not to put you off but make you aware of the consequences if you are fishing or trying it. IFAs are not like the banks and there will be consequences for the individual. If you have a valid complaint reason then fair enough. However, if you don't you need to think about what you are doing).

-taff

And not if it was pre January2005.
Also, unles you can prove it wasn't necessary, that you weren't going to die, that you don't have dependants, then you do need it.