Who do I contact first?

PurpleTurtle

Hi,

I've discovered that on an old mortgage with Bristol and West, part of may monthly payment was to pay the "payment protection" of £15.98 a month. I have my mortgage account number.

The endowment mortgage was sold to me through a representative of Winterthur via Spicer McColl estate agent. I was young at the time, I had no idea that payment protection was optional. Sadly I don't have any of the original paperwork from the time, other than my spreadsheet summarising my mortgage statements, and the final redemption certificate.

So my question is .... who do I write to in the first instant?
Bristol and West ?
Winterthur ?
Or just write to both?

Thanks for any help you can give.

PurpleTurtle

[Deleted User]

How long ago was this? If this was sold through a broker before 2005, then they won't have been regulated and can dismiss your complaint on that basis alone.

Regardless, you complain to whoever it was who sold you the Insurance.

Incidentally, "being young and not realising the PPI was optional" are not valid mis-selling complaints.

PurpleTurtle

Thanks, I had the mortgage from 1999 to 2006.
I know being young isn't a valid mis-selling point, I just mean that now I'm older I tend to check things out and not 100% trust what I'm told. I'm pretty sure I was led to believe that the mortgage would be refused without it.

Well, I'll see what happens but won't get my hopes up.

Thanks again.

dunstonh

So my question is .... who do I write to in the first instant?
Bristol and West ?
Winterthur ?
Or just write to both?

None of those. It would be Spicer McColl. However, most mortgage brokers were not regulated until January 2005. Although some were members of an earlier body from about 2001. However, yours is 1999.

Plus, why do you think it is PPI? Winterthur are a life assurance company. They dont do PPI.

Also, having just checked the FS register, i can see that Spicer McColl are no longer authorised. They gave up authorisations in the early 2000s prior to regulation. The Spicer Haart agencies operate as a different limited company which only became regulated in 2004 with Legal & General as a tied agent. Spicer McColl are showing as non-trading company and dormant at companies house.

What that means is that they dont have to consider your complaint. Also, as it pre-dates regulation, then you do not have access to the FSCS. Plus you cant use the FOS.

I'm pretty sure I was led to believe that the mortgage would be refused without it.

In 1999 there were deals that required an insurance purchase from the lender to get the deal. However, it is more likely that the broker required an insurance purchase to enable them to give free mortgage advice. It is a very common model and one that is allowed as long as the insurance is suitable.

PurpleTurtle

Winterthur was stated at the bottom of their advert for the property and it rang a bell.
Thanks for the background if you gave.
PT