Totally Stuck / Brick wall

Baggie_Pete

Hi all, I have seen PPI claims etc but I have hit a brick wall.

I took out a mortgage with "THE MORTGAGE HOUSE" in 2001 and they utilised a broker called "RAINBOW HOME LOANS" which have gone bust.

The company they all used was the "I GROUP" whom I rang this morning and were very helpful informing me of the PPI I had paid etc but as I had used a broker they werent liable. They gave me the number for the "FINANCIAL SERVICES COMPENSATION SCHEME" and told me to ring them.

I rang the FSCS and they told me because it was pre 2005 and the brokering company had gone bust there was nothing I could do.

This is where I am currently and dont know where to turn. I have been told I am owed £4160.

Please help, can I claim anything or do I just have to let it go?

Thanks in advance

[Deleted User]

Baggie_Pete wrote: »

I have been told I am owed £4160.

Who told you that you were "owed" this sum? The fact is that you are not owed anything unless you can show that PPI was mis-sold to you. In your case, the PPI was sold to you by a broker who was not regulated at the time and has since ceased trading.

FSCS has told you they cannot help.

You have nowhere left to go and your complaint is over before it's begun.

dunstonh

I have been told I am owed £4160.

Where on earth did that figure come from and who said you were owed it? (as they are wrong).


The broker carries liability for the sale. Not the lender. The broker no longer exists and its pre-regulation. So, the FSCS cant help. So, there is no-one to complain to. Hence why you are not owed anything.

Baggie_Pete

Thanks for the replies, I was told this morning by an "IGROUP" customer services person who then informed me to go through the FSCS.

I take it I am not entitled to claim anything back.

Thanks for your help!

[Deleted User]

Baggie_Pete wrote: »

I was told this morning by an "IGROUP" customer services person who then informed me to go through the FSCS.

I doubt very much they told you that you were "owed" the sum quoted. More likely you asked how much you might get back and they simply told you how much the policy cost you over the years.

Just to reiterate, you have no one to complain to and therefore cannot "claim".

Baggie_Pete

Moneyineptitude wrote: »

I doubt very much they told you that you were "owed" the sum quoted. More likely you asked how much you might get back and they simply told you how much the policy cost you over the years.

Just to reiterate, you have no one to complain to and therefore cannot "claim".

Thanks for the info, that was what I was trying to find out.