PPI Claim

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Hi
Just joined the forum... so please bear with me if i have it wrong..:)

So i called my bank (Bank of Scotland) and they advised me maybe 1.5 years ago that i did have a PPI on an endowment Mortgage i took out with them in 1996-1997. I had it for 15 years not knowing that i had PPI on it, hence why i called the bank to ask when the PPI scandal broke.

The bank informed me after sending the information to them that they had advised me at the time of the PPI when i signed for the mortgage. To this i was astonished as i had to call the bank to see if i had a PPI on my mortgage.

So called the Ombudsmen and they advised they would go forward with it, then maybe 1.5 years later i received a letter from the Ombudsmen to say they had done their checks and they were agreeing with the Bank that it was sold to me at the time so i knew about it.

I am shocked as where do i go from now? I have paid for a PPI that i did not know i had, i have asked for the paperwork to back this up but nobody has replied or sent me this information, i would think that the employees do not work at the bank anymore but i can't get a decision from anybody that is in my favour as i said it was never mentioned at the time, and i would presume if i had not signed the paperwork i would never have received the endowment mortgage at the time for my first property.

Any help is greatly appreciated as to can i go anywhere now with this, is it the end of the road???

Thanks

Comments

  • dunstonh
    dunstonh Posts: 116,648 Forumite
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    The bank informed me after sending the information to them that they had advised me at the time of the PPI when i signed for the mortgage. To this i was astonished as i had to call the bank to see if i had a PPI on my mortgage.

    Hard to claim you were astonished as banks have only every retailed monthly premium MPPI (not single premium which is considered bad). So, it would have appeared on your statements.
    So called the Ombudsmen and they advised they would go forward with it, then maybe 1.5 years later i received a letter from the Ombudsmen to say they had done their checks and they were agreeing with the Bank that it was sold to me at the time so i knew about it.

    Maybe it would help if you gave the actual decline reason rather than a statement of fact. They obviously sold it as you had it.
    I am shocked as where do i go from now? I have paid for a PPI that i did not know i had, i have asked for the paperwork to back this up but nobody has replied or sent me this information, i would think that the employees do not work at the bank anymore but i can't get a decision from anybody that is in my favour as i said it was never mentioned at the time, and i would presume if i had not signed the paperwork i would never have received the endowment mortgage at the time for my first property.

    Most MPPI complaints do fail. So, a rejection should not be a shock as statistically, that is the most likely outcome.

    You say you did not know you had it. However, with MPPI that is a more difficult claim to make given the way it is paid and appears on your statements.

    Verbal conversations that may or may not have happened 20 years ago have no real weight applied to them in a complaint decision. Unprovable allegations could be you making things up or it could be poor recollection. You may have been told things wrong but you cant prove anything.
    Any help is greatly appreciated as to can i go anywhere now with this, is it the end of the road???

    It is more or less game over.

    1 - your complaint reason is extremely weak. Almost there weakest there is and by itself, you would not expect a successful complaint outcome.
    2 - There is nothing wrong with having MPPI. It is still retailed today.
    3 - Banks only did monthly premium MPPI and that is how it should be set up (if loan and credit card PPI had been that way, we would likely never have had the PPI issue). So, no product failure.
    4 - The FOS dont believe you have a case.

    Your other option is going to court. However, the courts are less consumer friendly than the FOS and you could end up paying costs (albeit a small amount). If you cannot persuade the FOS, then you have little hope in court. This is why you see so few court cases.
    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.
  • auds1234
    auds1234 Posts: 5 Forumite
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    Thanks for your reply as this was over 20 years ago I do not have any paperwork and when the PPI was advised to everybody to check I had to call the bank to see if I had PPI to which they said YES I had it on a mortgage but not on loans and they asked if I wanted to make a claim so of course I would.

    I do not remember then advising me that I was taking a mortgage with PPI or else I wouldn't have called the bank to find out that my mortgage had PPI. Not poor recollection on my part as from the start I did not know I had it.

    Why should I not be shocked as I was shocked I had PPI to start with.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    auds1234 wrote: »
    Why should I not be shocked as I was shocked I had PPI to start with.
    Duncan is saying you should not have been shocked to "discover" that you had PPI, because, not only did you sign a mortgage agreement with MPPI included, it would also have appeared on each monthly statement on a separate line. You really cannot complain on the basis that you didn't check your statements.

    Basically, you made a complaint because you forgot the insurance was included. While this is understandable after twenty years, it really was not added without your knowledge and permission. The Bank told you this, but you still went to the Ombudsman. I'm surprised that you are surprised, to be honest.

    Do realise that it not somehow wrong just to have insurance. In order for it to be refunded to you, you have to show that it was mis-sold to you.

    You have failed to do that and have now exhausted all avenues of complaint available to you apart from court, which is not recommended .
    auds1234 wrote: »
    I do not remember then advising me that I was taking a mortgage with PPI
    That really is the whole point.
  • auds1234
    auds1234 Posts: 5 Forumite
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    Thanks for the replies and information I was only asking what I could do now.

    I was shocked as 20 years ago it was never explained to me at the time of signing for the mortgage that it included MPPI

    Thanks again i appreciate the replies and comments from people that obviously know.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    auds1234 wrote: »
    I was shocked as 20 years ago it was never explained to me at the time of signing for the mortgage that it included MPPI
    You mean you can't remember it being explained. That really is not a basis for complaint. An agreement signed by you (twenty years ago) trumps your memory I'm afraid.

    It's a myth sponsored by claims companies that PPI was routinely added without the knowledge and permission of the customer. While it's possible for this to have happened (particularly with loans and credit cards), without evidence to back up such an accusation neither the banks nor the Ombudsman will uphold a complaint on that basis. Others have had success making that complaint only because the Bank or FOS have found other problems with the sale.
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