Picture Home Loans

jacobtheamish

I had a £25,000 secured loan with picture finance back in 2004, the loan was cleared via a remortgage in 2006. I am unaware of the terms of the mortgage and have no documentation to reference. I did have PPI and wonder whether before I waste any more time on this, if it is futile?

Also can't seem to find any PPI claim templates, am I blind or just stupid?

dunstonh

Did you buy directly though Picture Loans or via a broker.

Also can't seem to find any PPI claim templates, am I blind or just stupid?

May be an idea to find out if you had PPI first before you give a complaint listing reasons which may or may not apply.

magpiecottage

dunstonh wrote: »

Did you buy directly though Picture Loans or via a broker.

The OP says he is a mortgage adviser - he ought to be aware of how DISP works.

jacobtheamish

dunstonh wrote: »

Did you buy directly though Picture Loans or via a broker.



May be an idea to find out if you had PPI first before you give a complaint listing reasons which may or may not apply.

Yes it was through a broker, I will get back in touch with him and look in to it.

Sorry to have wasted your time

jacobtheamish

magpiecottage wrote: »

The OP says he is a mortgage adviser - he ought to be aware of how DISP works.

Yes I am a broker and no I wasn't at the time

I am aware of dispute resolution procedures, all though it is not a daily occurrence that I deal with.

dunstonh

Yes it was through a broker, I will get back in touch with him and look in to it.

Most brokers were not regulated until 14 January 2005. So, they can reject the complaint as being pre-regulation.

magpiecottage

It may depend how on the ball the broker is and their regulatory status at the time and subsequently.

However, unless the broker subscribed to the GISC code in 2004 then they can dismiss it out of hand.

Karamanda

Hi Guys,

I also took out a Picture Loan in 2005, which has been settled since.
I did make a successful PPI claim against them in 2010.
However, there is now a lot of hype as to whether the refunds were calculated correctly.
So I'm looking to make a secondary claim.

However, in all this time, Picture Loans were taken over by Webb Resolutions, who were then taken over by Idem Servicing.
So which firm do I make the secondary claim against?

Many thanks

magpiecottage

Karamanda wrote: »

So I'm looking to make a secondary claim.

However, in all this time, Picture Loans were taken over by Webb Resolutions, who were then taken over by Idem Servicing.
So which firm do I make the secondary claim against?

The offer of redress will almost certainly have been in full and final settlement.

It will also have stated that if you remained dissatisfied you had six months to go to FOS.

If you go to FOS now they will ask the business that is responsible for addressing the complaint if it will permit them to waive that limit.

The business will say no.

FOS will close the case.

That is if the business does not argue that you are wasting its time and seek to charge you for a frivolous and vexatious complaint.

On the other hand, it may pay out again in error.

Your call.