Santander

Angel100_2

Advice please. I have recently tried to claim against Santander for a mis-sold investment. Following several telephone calls requesting further information they verbally accepted liability and agreed that I had been badly advised.They informed me that they needed to discuss interest and compensation owing to me. Eventually after several months they wrote to say that my claim was 'time barred' therefore it had been rejected. Is there anything further I can do as I am so frustrated with their response?

[Deleted User]

They won't have "admitted liability" verbally and (even if they did) you'd have a hard time proving it.

If your complaint is time barred, then there is nothing more you can do, as even the Ombudsman cannot revoke this.

dunstonh

Following several telephone calls requesting further information they verbally accepted liability and agreed that I had been badly advised.

I doubt that happened as that isnt how the complaints process works. It may be that they listened to your complaint and sympathised with the situation you described and said something along the lines of.... it that happened then that would be a mis-sale.... Telephone operatives on complaint lines to do take a sympathetic approach and a line of least resistance by being very agreeable. However, only when it is looked into and a decision issued is the complaint outcome known.

Is there anything further I can do as I am so frustrated with their response?

The timebars are set by the regulator and broadly mimic legal timebars. You have 6 years from the purchase of the investment or three years from being reasonably aware of an issue (whichever is longer) to raise a complaint. If you surrendered/sold/matured the product more than 3 years ago and the purchase was more than 6 years ago, then the timebar would appear fair and valid. If you feel the timebar has been incorrectly implemented then you can go to the FOS. They can only look at it if the timebar is wrong. So, your referral to the FOS you would have to explain to the FOS why you think the timebar is wrong. If it isn't wrong then it doesnt matter if you had the worst mis-sale in history, they cannot look at it.

Angel100_2

Thank you for replies. I can assure you that, although verbally, the complaint was upheld. It was not a customer service operator in a call centre it was the resolution manager that was dealing with my complaint. I realise that as it was not in writing I have no proof hence why I am asking whether there is another way that I can approach this.

[Deleted User]

Angel100 wrote: »

I can assure you that, although verbally, the complaint was upheld.

Since any redress would have been paid very deliberately without any admission of liability (verbal or otherwise), I think you'll appreciate why your comment seems unlikely in the extreme.

Regardless, your complaint has been rejected on the basis of it being time-barred. If this has been applied correctly, it matters little what the complaints manager may have said informally because your complaint is over.