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Delboy70

Delboy70
Delboy70 Posts: 1 Newbie
in Reclaim bank & credit card charges
My wife had a business with her ex-husband and they had a bank loan which required them to take out critical illness cover even though they did not want or need it. We tried to claim this back as PPI but were unable to do so. We appealed to the Financial Ombudsman who told us we could not claim anything back as when they took out the loan it was the bank's policy only to make a commercial loan if critical illness cover was taken out even though the bank's policy changed later. Has anything changed regarding this type of situation?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Not if that was their policy at the time.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    Delboy70 wrote: »
    Has anything changed regarding this type of situation?
    No. Nothing has changed. The Banks were allowed to make it a condition of lending to businesses and frequently did at the time.

    Your complaint was concluded when the Ombudsman rejected it. This won't change in the future.
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