Consumer Money Matters PPI Claim

davehalo1

Thank you for the pointers guys, we'll have a chat tonight.

Thanks,

Dave.

davehalo1

Hi guys,

Just an update regarding this post.

We received a confirmation email about the meeting with CMM and in it they asked us to have all the paper work ready regarding the mortgage.

So my understanding is if we have all the paper work they just ask the questions and we provide the answers from the paperwork we have.

They then take those answers, fill in a form and file the claim.

So essentially they are fishing?

If the claim is successful then then take their cut?

So the reasoning been, if we have the paper work, we can simply do this ourselves meaning we wouldn't have to pay anyone should the claim be successful?

Is that it in a very rough nut shell?

As of now we have cancelled the meeting with CMM.

Thanks,

Dave.

Sarros

Yes that is correct. You've had a lucky escape there!

dunstonh

So essentially they are fishing?

Yes. They will send in a one-size-fits-all template letter and hope something sticks against the poor mortgage adviser who will then suffer the stress, anxiety and cost for dealing with the fraudulent complaint.

If the claim is successful then then take their cut?

In some cases. However, what happens generically with some companies that try this scam is that they say you have a case (often making reference to some legal team who doesnt exist) but to pursue it further they need £x from you. That is where they make their money.

So the reasoning been, if we have the paper work, we can simply do this ourselves meaning we wouldn't have to pay anyone should the claim be successful?

You can do it yourselves but be aware that there are no widespread concerns over mortgage adviser via brokers other than where subprime lenders were used where prime or near prime would have been better.

Unlike faceless banks who do not hold their staff responsible, brokers/adviser do hold responsibility with small firms. I have had a mortgage adviser in near tears when he got a fraudulent complaint. It cost him £500 despite being no case to answer and the FOS rejecting it. If there is a wrong doing then fair enough. However, if it is just fishing, then there are consequences to such a thing.