Claiming back PPI sold by Financial Advisor

gogogadgetlegs

In 1992 took out a Loan to cover the cost of transfering my mortgage from the local council to Bradford & Bingley BS. along with enough money to modernise my house, total £15,000.
At the time of taking out this loan i was just transfered by consultant to long term sick afer being made redundant. as a wheelchair user i could not make it to the BBBS so they sent me a financal advisor to fill in forms.
I have tried reclaiming PPI but i have been told that i can only make a claim if i contact a solicitor as my loan was through a financial advisor.
My insurance for life cover was £10 per month and at no time whilst paying mortgage off did i ever receive a policy.
Can anyone advise me if i can claim PPI from Bradford & Bingley BS, as i have seen people in the same position as myself being told NO.

dunstonh

I have tried reclaiming PPI but i have been told that i can only make a claim if i contact a solicitor as my loan was through a financial advisor.

Financial advisers did not become regulated for insurance until January 2005 unless they worked for a bank or building society selling own brand products or were an agent of an insurer (these has prior regulation). From memory, I dont think B&B used their own in-house advisers back then but used IFAs. So, in 1992, if it was an IFA then you cannot use the complaints process. You would have to use the legal system. However, that wouldnt work either as the financial adviser firm could rely on the limitation act and prevent legal action.

My insurance for life cover was £10 per month and at no time whilst paying mortgage off did i ever receive a policy.

Life assurance is not PPI. In 1992, a lot of lenders still required life assurance as a condition of borrowing. This was allowed back then and still is today. Although you rarely see it on consumer borrowing nowadays.

Can anyone advise me if i can claim PPI from Bradford & Bingley BS, as i have seen people in the same position as myself being told NO.

1 - You dont have PPI. So, putting in a complaint about a product you do not have is futile.
2 - It is pre-regulation
3 - You havent given any valid reason for complaint
4 - you are out of time for legal action.