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Oceam Money PPI
MoreOn
Posts: 393 Forumite
Hi All,
Back in December 2013, my parents applied to Ocean Finance for PPI refund, their loan were taken out in 2004 with Marlborough Loans via Ocean Finance. I also sent paperwork to the named Insurance Company , Premier Writers of Bradford.
They since received a letter from Ocean Finance & Mortgages Ltd, stating that
''Given the time of these transactions, Ocean Finance & Mortgages Ltd could not have played any role in the sale in the sale of these policies. OFML was not incorporated until September 2003 and did not actively operate as a business entity until 14th January 2005''
Goes on to say registered at companies house 2005 etc.
after acquiring the ''Ocean Finance'' business from Mr Newey (The sole trader of OF) on the 14/1/05 and the Sale and purchase agreement, deal with private arrangements between OFML and Mr Newey, however does not confer any rights upon any third parties, such as lenders and borrowers.
''Indeed any third party are expressly excluded''
Then gives Mr Newey, PO Box address and suggest I take it up with him.
I've noticed a few people on the site talk about Ocean, there is no follow up information..
Advice needed...
Back in December 2013, my parents applied to Ocean Finance for PPI refund, their loan were taken out in 2004 with Marlborough Loans via Ocean Finance. I also sent paperwork to the named Insurance Company , Premier Writers of Bradford.
They since received a letter from Ocean Finance & Mortgages Ltd, stating that
''Given the time of these transactions, Ocean Finance & Mortgages Ltd could not have played any role in the sale in the sale of these policies. OFML was not incorporated until September 2003 and did not actively operate as a business entity until 14th January 2005''
Goes on to say registered at companies house 2005 etc.
after acquiring the ''Ocean Finance'' business from Mr Newey (The sole trader of OF) on the 14/1/05 and the Sale and purchase agreement, deal with private arrangements between OFML and Mr Newey, however does not confer any rights upon any third parties, such as lenders and borrowers.
''Indeed any third party are expressly excluded''
Then gives Mr Newey, PO Box address and suggest I take it up with him.
I've noticed a few people on the site talk about Ocean, there is no follow up information..
Advice needed...
0
Comments
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The seller has liability. So, in this case the broker. However, most brokers were not regulated prior to january 2005. The lender would not carry liability unless the lender was also the broker/seller.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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You will never get your money back.Non me fac calcitrare tuum culi0
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