Capital One say it was not missold

magpiecottage

I think we are agreed on that, Moneyineptitude - and the FCA is looking at the issue of whether the commission level is excessive (although its predecessors took years to make decisions about widespread issues of this nature).

In the end, though, dunstonh is correct - it is silly to uphold all complaints.

Last month I looked at a complaint that had been made against NatWest for selling a mortgage PPI policy in 2005. It turned out that it had not sold a mortgage to the complainants in 2005, let alone an accompanying PPI policy.

So the complainants changed their story and said it had been missold in 1997.

RBS said that it did not sell one then either and the mortgage had been sold by an IFA. The complaint then went to the successor of the IFA - who found that the original firm had not sold PPI either.

If we followed the logic of ididntgetwhereiamtoday then somebody would end up paying redress for a missold policy that never existed.