rejected by fsa

scoobydoo666

Hi

In 2011 I had 2 jobs both for the same company but seperate roles. I underwent major surgery which kept me off work for 6 weeks however I maintained 1 of my jobs from home but my office job stayed there. Anyway I was made redundant from my office job (main income) and my other job was sliced to a quarter wage. Because I was unable to work and responsibly trying to make sure my mortgage and bills were being paid I contacted my ppi company to see what I had to do to claim. I was advised that I couldnt claim while I had the second job. So we went back to the drawing board to look over our outgoings to see what we could get rid of like virgin media etc and questioned our ppi. I was completely convinced we had to have it so I called my financial advisor who told me yes its crucial. I chatted with a friend who said I should check with the mortgage company because advisors make money from selling you these things so I called the mortgage company and surprise surprise I never needed it she said it was in my mortgage original docs thaty advisor should have given me. I asked for a copy as I had never recieved anything other than the final docs direct from them. I contacted the ppi company initally to claim it back off them but they told me it was the broker as they supply the policy but dont sell it so I contacted the broker who advised he would concoct a story to put it onto the ppi company.

So I found out from my mortgage company that I didnt have to have mppi to have my mortgage even though I had been pressure into having it by my financial advisor. 'No policy, no mortgage'.

I completed the standard forms to request a refund of missold ppi, sent it to he financial advisor office who then claimed, after i waited 6 weeks for a reply, they had responded with 2 days via email and letter. I hadnt recieved either.

Anyway, I forwarded all docs to the financial ombudsman who have sat on it for nearly 18 months to tell me that they are not uphpldig my complaint because they cannot prove the financial advisor hadnt given me and my husband all the information and that he had pressured us into taking the policy.

In their letter they say:

"in May 2007 you applied for mppi". I didnt apply I was told I had to have it.

" both myself and my husband would recieve sick pay from our employers for 6 months full pay and six months half pay. We only got 6 full pay nothing afterwards".

According to the falsified docs the financial advisor completed after we signed the forms I worked for a company for longer that I actually did.

"The financial advisor had a duty to make sure the policy was suitable for me. Just told no policy no mortgage".

"I think xxxxxxxx recommended you to take the policy out.

Even though you told us you felt pressured I do not have enough strong evidence such as a phone call to uphold your claim.

Looking over your policy and all the information xxxxxxx gave you when you took it out I have found you made it clear you wanted the policy and you had to sign seperately for it. - yes we signed seperate because we were told that we had to have he policy - no policy no mortgage! Yes there was a tick box on the mortgage docs about insurance and I queried that and was advised it was for the mortgage companies own ppi which was more expensive.

Now this advisor harrassed us constantly to sign the forms, he would ring me and my husband at work, turn up at our home.

He continually told us that it was the only mortgage we could get (self certified) but we could only have it by buying the ppi cover.

So where if any can I go from here?

Please help!

-taff

You can ask for it to be forwarded to an actual ombudsman but the chances are you'll get the same outcome.

dunstonh

It should be noted that most MPPI complaints are rejected. Also, most adviser PPI sales are rejected. Put the two together then its even more so.

" both myself and my husband would recieve sick pay from our employers for 6 months full pay and six months half pay. We only got 6 full pay nothing afterwards".

The FOS consider sick pay an issue with loan and credit card PPI. However, with MPPI they eliminate sick pay provided by the employer.

Even though you told us you felt pressured I do not have enough strong evidence such as a phone call to uphold your claim.

Allegations need evidence typically. Otherwise anyone could make anything up.

So where if any can I go from here?

You can refer it to an ombudsman but your complaint is weak as its an unprovable allegation against a product with a lower success rate of complaint via a distribution channel with a lower success rate on complaint. I cant see an ombudsman overriding it as the rejection seems common sense and typical based on the complaint reasons given.

dunstonh

Just to follow up on this, here is an FOS publication on a similar complaint:

http://ombudsman-decisions.org.uk/viewPDF.aspx?FileID=9909

It made similar unprovable allegations and sick pay existed. It was still rejected.

another one: http://ombudsman-decisions.org.uk/viewPDF.aspx?FileID=6373
this too made the same allegation but was rejected

and another with unprovable allegations: http://ombudsman-decisions.org.uk/viewPDF.aspx?FileID=5848

and another: http://ombudsman-decisions.org.uk/viewPDF.aspx?FileID=5738

There are now dozens of these on MPPI. You need to remember that MPPI does not suffer all the same issues as loan and credit card PPI.