Bank of Scotland MPPI claim

Hibbertp

Hi there, 1st time user.

I've received a letter back from the Bank of Scotland saying they
"Have decided to uphold my claim" and they have stated an amount to pay me back.
They go in to say.
"Having considered the circumstance surrounding the sale of the policy using the records we hold, I accept the allegation and agree the policy was not appropriate for you, however during my investigation, I was able to establish from our records that you odd not make any payments towards the policy"???????

This is crazy I had the MPPI policy for 8 years and paid monthly premiums religiously.

I no longer have my bank statements, and can't provide evidence to the fact that I paid, but it was paid from a BOS bank account against a BOS mortgage.

They have the MPPI policy numbers, mortgage account numbers and my Bank account numbers.

The offer they have made is 25% of what I was expecting, but I'm afraid to challenge in fear of the. Getting nothing at all.

If they have made an offer to settle, and I challenge for what I believe to be the correct amount, is the original offer "safe in the bank".

Should I stand up for my rights, and risk challenge for more, or settle for more.

How can they say they have no evidence I have not paid any premium if they are willing to make an offer?

Confused . Com

Help please any advice is appreciated

dunstonh

Something not quite right here. If they have found you paid no premiums then they should offer nothing. So, why are they offering 25%. Tell them that you paid monthly premiums for the periods you believe.

Your bank will be able to supply copy statements for the period. you dont need them all. Perhaps one near the start, one near the end.

[Deleted User]

Duplicate post
https://forums.moneysavingexpert.com/discussion/comment/65734958#Comment_65734958

Hibbertp

Finally spoke to some one on the BOS helpline today in Manilla.

I have to say the as good as their English was it was a very long a painful process trying to explain.

As it turns out, my first Mortgage Care Policy that I had for 5 years, they have no record at all of any payments being received against it from 1997-2002

This is quite strange as one of the only pieces of evidence I have to prove the policy, is a renewal letter in 2002, that thanks me as a valid customer, and that policy is about to expire (as it was a 5 year policy) and that they will send me details ASAP of the new premium for the next 5 years on my new Mortgage (coincidence that I was just moving house at that time and a new policy was needed).

This policy ran from 2002 to 2005 when I left BOS and switched to another bank and cancelled the MPPI policy.

This is the policy that they have accepted liability on, and apologise for miss sale, but will not payout on the first one???

So when your trying to explain this to some one with broken pigeon English who sounds like Steven Hawkins, 13000 miles away it is not very easy at all and so frustrating. I'm sure he still disnt understand my point?

Has anyone else had issues with BOS trying to worm their way out of payments saying policies don't exist?

dunstonh

This is quite strange as one of the only pieces of evidence I have to prove the policy, is a renewal letter in 2002, that thanks me as a valid customer, and that policy is about to expire (as it was a 5 year policy) and that they will send me details ASAP of the new premium for the next 5 years on my new Mortgage (coincidence that I was just moving house at that time and a new policy was needed).

That is strange as MPPI sold by banks was monthly premium pay as you go. Not fixed term. When you describe sounds like a single premium plan. Maybe the bank didnt sell it but a broker did?

Hibbertp

No the Bank sold it, I worked for a division of BOS, and to take advantage of the staff Mortgage I was forced to take the policy, this was back in 1997, I paid it until May 2005.

Good thing is, since my last post, I have found bank statements dating back to 1999-2004 showing debits for the product. They are currently packed away in an envelope ready for recorded delivery tomorrow to BOS PPI unit in Leeds!

magpiecottage

If it was a condition of the mortgage deal then that WAS permissible. It is likely that, as a result of short corporate memory, you got lucky.

If you push for more they may realise and withdraw the offer.