Hit a dead end with Mortgage PPI - help

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
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rgb83rgb83 Forumite
16 Posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
My parents decided to venture down the PPI re-claiming path after my Mum thought they never really had PPI. I had a look through their old Mortgage agreement and they paid a £1000 cash upfront payment to a mortgage broker for PPI insurance - paying out £200 per month should they have required it.
Now, I can not locate the original broker / lender / company
Has anyone had any success with Financial Insurance Co.Ltd ?
The mortgage was with Halifax and was settled through Walker Lairds Solicitors, however Halifax advised the PPI was not with them and Walker Laird advised they only acted as the solicitors to witness the mortgage agreement.
We even approached a "we fight your claim" company **shakes head** however they failed to locate it also.
Any help at all would be amazing :)
:rotfl:
"its always in the last place you look!" of course it is, once you have found it you dont keep looking! ha ha
;)

Replies

  • dunstonhdunstonh Forumite
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    I had a look through their old Mortgage agreement and they paid a £1000 cash upfront payment to a mortgage broker for PPI insurance - paying out £200 per month should they have required it.

    Most MPPi complaints do fail as MPPi is considered a more important product. Indeed, it is still retailed today. However, it should always be on a regular premium basis. Single premium MPPI is nearly always considered a mis-sale.
    Has anyone had any success with Financial Insurance Co.Ltd ?

    The insurance company has no liability for the sale of insurance unless it was an agent of the insurer. The liabilty for the sale is with the broker. Most brokers only became regulated in Jan 2005 and do not need to consider pre 2005 sales. Some have to go back further depending on their status at the time but that is only of use if they are still trading today.

    If they are no longer trading and the sale took place before Jan 2005 then it is game over.
    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.
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