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FSCS, Kensington Mortgages & PPI
mooohop
Posts: 2 Newbie
Apologies in advance, this is a long one!! but i am just so confused any pointers would be immensely appreciated.
After reading a lot on here regarding ppi, mppi, claims co, fscs. etc i decided to try to not use a claims company but try and go it alone to make an application to the FSCS. Now im beginning to think im way out of my depth :think:
Back in Feb I contacted the FSCS when the mortgage broker who had arranged everything was listed on their site as been in default. I submitted the forms they sent in beginning of March.
Last month they rang to inform me that as a result of the information i provided they have discovered that there is actually ppi on the case/claim. So the claim is now split and a different department will look at the ppi and they will contact me soon. This lady herself was looking only into the mis-selling of the mortgage and the fees for unsound advice (cant remember the exact words).
Two weeks later they call again to say their side is now complete and has been sent to their compensation advisor for a final decision.
Last week i received a letter from the ppi side stating they have reviewed the information and note the form is incomplete and ask me to complete the attached PPI form. (never filled a form in for this so it wasnt incomplete lol)
I rang FSCS for advice to complete as it is asking for name of policy provider, policy number etc. I explain i don't know these as it was all organised by the broker and added into a final figure.
They advise ring Kensington Mortgages they will give me the information. Call KM they say no you didn't have PPI on this mortgage. I explain i can see from their offer no ppi was mentioned but I have a breakdown letter from solicitors with figures on showing distribution of the funds they forwarded and it lists a £2500 fee to Mortgage Protection Premium although there is no company name. These figures all tally so someone got paid the £2500? KM say they dont have any record of it so contact the broker (the one that doesn't exist any more) sigh!!
I push my luck and call the solicitors, they state a cheque was sent to broker along with a cheque for his own fees for forwarding to the MPPI insurer. They believe the cheque was made payable to Commitments? They have no information about them, I have no information re Commitments either, account number, policy, term.
FSCS have asked for form returned within two weeks or it will be seen as non-progressable. I did call for help a week ago, waited for my case handler to call me back, when she didn't i rang them again today so we are already 10days in and to be fair they weren't overly forthcoming with suggestions, in fact confused matters more by telling me they have a document for Blemain?? I dont think Blemain would of done the mortgage protection? so why have they got a document in our name for Blemain?
Who would i look to for the information i need? Would a copy of the completion statement showing the fees suffice? Should i write a covering letter with the form? or do i fill in the additional information and try and explain? Should i even bother to look at this side of it or just leave it, will it just get harder? Maybe its just too complicated for a layman? :wall:
After reading a lot on here regarding ppi, mppi, claims co, fscs. etc i decided to try to not use a claims company but try and go it alone to make an application to the FSCS. Now im beginning to think im way out of my depth :think:
Back in Feb I contacted the FSCS when the mortgage broker who had arranged everything was listed on their site as been in default. I submitted the forms they sent in beginning of March.
Last month they rang to inform me that as a result of the information i provided they have discovered that there is actually ppi on the case/claim. So the claim is now split and a different department will look at the ppi and they will contact me soon. This lady herself was looking only into the mis-selling of the mortgage and the fees for unsound advice (cant remember the exact words).
Two weeks later they call again to say their side is now complete and has been sent to their compensation advisor for a final decision.
Last week i received a letter from the ppi side stating they have reviewed the information and note the form is incomplete and ask me to complete the attached PPI form. (never filled a form in for this so it wasnt incomplete lol)
I rang FSCS for advice to complete as it is asking for name of policy provider, policy number etc. I explain i don't know these as it was all organised by the broker and added into a final figure.
They advise ring Kensington Mortgages they will give me the information. Call KM they say no you didn't have PPI on this mortgage. I explain i can see from their offer no ppi was mentioned but I have a breakdown letter from solicitors with figures on showing distribution of the funds they forwarded and it lists a £2500 fee to Mortgage Protection Premium although there is no company name. These figures all tally so someone got paid the £2500? KM say they dont have any record of it so contact the broker (the one that doesn't exist any more) sigh!!
I push my luck and call the solicitors, they state a cheque was sent to broker along with a cheque for his own fees for forwarding to the MPPI insurer. They believe the cheque was made payable to Commitments? They have no information about them, I have no information re Commitments either, account number, policy, term.
FSCS have asked for form returned within two weeks or it will be seen as non-progressable. I did call for help a week ago, waited for my case handler to call me back, when she didn't i rang them again today so we are already 10days in and to be fair they weren't overly forthcoming with suggestions, in fact confused matters more by telling me they have a document for Blemain?? I dont think Blemain would of done the mortgage protection? so why have they got a document in our name for Blemain?
Who would i look to for the information i need? Would a copy of the completion statement showing the fees suffice? Should i write a covering letter with the form? or do i fill in the additional information and try and explain? Should i even bother to look at this side of it or just leave it, will it just get harder? Maybe its just too complicated for a layman? :wall:
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Comments
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...They believe the cheque was made payable to Commitments? They have no information about them, I have no information re Commitments either, account number, policy, term.....
Commitments Protection Limited appears to be some kind of insurance brokers; Company No. 04450200, head office 8 Church Green East, Redditch, Worcestershire, B98 8BP0 -
The financial ombudsman service has so far successfully reclaimed ppl from two banks...and I'm about to talk to them abt Kensington.0
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cornman1357 wrote: »The financial ombudsman service has so far successfully reclaimed ppl from two banks...and I'm about to talk to them abt Kensington.
IIRC, Kensington retail their products via brokers and not direct to consumer. So, why would you talk to the FOS about a company that didnt sell you PPI?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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