IF PPI & Advisor

oxford_lad_2

I went to claim back my PPI on a loan and a mortgage with IF, however I got a letter back stating that I have used an independant advisor and to contact them regarding claiming. However the advisor I used I can no longer contact and I believe is out of the country!
Can I progress my claim still or is this now dead in the water?

[Deleted User]

oxford_lad wrote: »

the advisor I used I can no longer contact and I believe is out of the country!

Since you can only complain about mis-selling to who ever sold you the loan, your "complaint" is over.
There might be some consolation in noting that hardly any mis-selling complaints against Independent Financial advisers are upheld, largely because (unlike banks and other lenders) they did a full "demands and needs" investigation of their clients.
It's also possible that the sale of this insurance took place prior to regulation, in which case the IFA wouldn't have to consider your complaint at all.

dunstonh

Adviser complaints on PPI only account for around 0.2% of PPI complaints. IFA complaints run at around 1%. Most of both of these are rejected. MPPI is generally considered appropriate and most MPPI complaints are rejected. So, statistically, the odds are against you. PPI is not generally regarded as an IFA/FA issue. Most mis-sales did not take place on the advice side. It was the non-advice side that had issues.

You had a mountain to climb before you even got to the no-longer-trading bit. If you bought before January 2005 then its game over. If you bought after January 2005 then you can complain to the FSCS. However, their uphold rate on mortgage advice cases is something like 5%. You would need a strong complaint reason.