the mortgage matters partnership ltd - PPI

darrenblue_2

Hi,
I was looking to make a claim for PPI with The Mortgage Matters Partnership Limited with the address Ambassador Place Altrincham WA15 8DB. However, looking for them, a website said they are dissolved. I have now found a new company with exactly the same name but they are now at Grosvenor House Altrincham WA14 2QG with two directors that use to be directors at the previous address. Does anybody know if this is deliberate to avoid paying out PPI claims? And, has anybody had any luck with The Mortgage Matters Partnership Limited?

Thanks, Darren.

dunstonh

Does anybody know if this is deliberate to avoid paying out PPI claims?

I doubt it. Most MPPI complaints are rejected and brokers are only liable for sales after 14th January 2005. The FOS reject most MPPI complaints and advisers only account for around 0.2% of PPI complaints. So, the overall liability for an adviser is light.

What date was your sale of MPPI?
What are your reasons for complaint?

darrenblue_2

14th August 2003. I was told it would help my application if I took the PPI.

dunstonh

Its game over for you. Your purchase is pre-regulation. So, even if the original firm were still trading, they would not need to consider your complaint).

Your complaint reason may have occurred but its the weakest complaint reason going. So, even if if it was a post regulation case, I would still expect that to be rejected on that point as you almost certainly have nothing to prove that allegation and you can bet your life their own files dont support your allegation.

Time to put this one to bed and move on.

darrenblue_2

Thanks, that cheers me up no end. The icing on the cake was out of the blue I was made redundant 2 months later and the insurance company cheerfully told me they are not liable for the first 90 days.

Regards, Darren.

-taff

There aren#'t many that cover you while you are still employed by the company i.e. garden leave.

darrenblue_2

What I mean is they said if I was made redundant within 90 days of taking the policy then they did not have to pay out. Of course the broker did not point this out just the good bits of the policy. I can hear the brokers shouting "you should have read the small print" but why is it small print anyway and why was I not warned.

Regards, Darren.

dunstonh

You need about 6 months typically. This is to stop people taking it out when they know they are being redundant. None of that makes it mis-sold though. Its just bad timing.

darrenblue_2

So shouldn't my policy say £2.5k for 4 years 9 months cover instead of 5 years? Like I said earlier the broker said I had more chance of getting the mortgage if I took out the policy.How do I know this is true? As a foot note to this I found out by accident that because I split up with my wife and sold the house within the "5 years" I got a pro-rota rebate. I wonder how many people this applies to but are not aware?

Regards, Darren.

dunstonh

So shouldn't my policy say £2.5k for 4 years 9 months cover instead of 5 years?

No. It should say £30pm until further notice but you cannot claim unemployment in the first 6 months (but can accident and sickness).

Like I said earlier the broker said I had more chance of getting the mortgage if I took out the policy.How do I know this is true? As a foot note to this I found out by accident that because I split up with my wife and sold the house within the "5 years" I got a pro-rota rebate. I wonder how many people this applies to but are not aware?

It probably doesnt apply much at all as single premium MPPI is rare and is actually a mis-sale in itself. Single premium MPPI is considered unsuitable. If should have been monthly premium. So, anyone with a post regulation case on single premium MPPI basis really needs no other reason for complaint other than that.

I guess knowing you were absolutely missold but nothing can be done about it isnt going to make you happy!

darrenblue_2

Thanks for taking the time to give me the info.
You live and learn I suppose, I now don't buy any insurances, extended warranties or anything else apart from car insurance and that's only because I have to.

Regards, Darren.