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Progressive BS PPI
eamonmci
Posts: 9 Forumite
I claimed for this because I felt it was pushed on me as part of the selling process for my mortgage. No consideration was given to my personal circumstances. However the ombudsman has rejected my claim because the forms do not show that it was compulsory. Has anyone else had PPI claims with this building society?
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Comments
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How on earth did you get the mortgage? the adviser would have completed a Fact Find.No consideration was given to my personal circumstances.
So it wasnt compulsory then.However the ombudsman has rejected my claim because the forms do not show that it was compulsory.
There is nothing wrong with having a mortgage PPI, this a monthly paid PPI not single premium.0 -
However the ombudsman has rejected my claim because the forms do not show that it was compulsory.
The ombudsman would not just consider that. It would answer your specific complaint reason but they would also check suitability and financial need. So, overall, they found no case to answer.Has anyone else had PPI claims with this building society?
The society does not matter. The product type and what it covers does.
Your complaint was weak. About the weakest you can get and, ignoring other potential complaint reasons, was always likely to fail. The reason being that:
a) if you had evidence it was mandatory and it was mandatory then it was not mis-sold. Mandatory polices as a condition of borrowing are allowed
b) if you had evidence you were told it was mandatory but it wasnt then your complaint would be upheld. However, the chances of evidence existing of that are virtually zero.
Most MPPI complaints are rejected by both the lenders and the FOS. Today, MPPI is one of two types of PPI still retailed. It is considered an important product (failure to pay your mortgage can result in lifestyle changing consequences. Failure to pay a loan or credit card does not). The FSA did a review of PPI and found MPPI had less issues than loan and credit card PPI and it felt that most MPPI sales were not mis-sold.
So, in summary, you can see why your complaint failed and that was always likely to be the case.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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