MPPI Reclaim though Broker no longer running

Dragon32

Hi MSE Forums,


This is entirely new to me and after reading through a lot of the forum, it is all so daunting as there are so many abbreviations and ensuring you go through the right process.


I have been looking through some of my paperwork and emails/attachments. I found my 1st mortgage illustration along with the Premium charge per month and the MPPI number which I thought was good solid evidence.


However, I have been reading that the fact that my broker is no longer active that I am unable to claim. Has anyone else experience this and aware the facts regarding this situation. The Broker was Hamilton Financial Services and the mortage with Santander. The payments were made to Payment Shield.


When taking out the mortgage, I was informed by the broker that the unemployment & disability cover was required to take out the mortgage and proceeded with it but I do not have anything to prove that the broker said this. All I have in my evidence is the MPPI number, mortgage Acc No and the monthly fee.


Any advice on this would be greatly appreciated as I am not actually sure now whether I can put it straight to Santander or whether I need to go to the FSA first.


Thanks in advance and must mention that you guys rock in here as there is soo much info in here albeit a little difficult to absorb at times.


Dragon32

[Deleted User]

You complain, not claim, to the seller. Ie the broker. In this instance, you have no one to complain to.

You can't go to Santander as they didn't sell it and neither the the Food Standards Agency nor the FCA will be interested.

On the plus side, if it was compulsory, it was not mis sold.

Dragon32

I think a bit more reading is required .. Fell at the first hurdle. I did mean the FOS but as you rightly highlight, I have no-one to complain to.


Sounds like I have no case here then ZX81 or are you saying that because I was informed it was compulsory, the broker was in the wrong as it should be optional.

[Deleted User]

If it was optional and he said it wasn't, it was mis sold.

If it wasn't optional and he said it wasn't, it wasn't mis sold.

[Deleted User]

Dragon32 wrote: »

are you saying that because I was informed it was compulsory, the broker was in the wrong as it should be optional.

No.

If the insurance was compulsory then being told that is, of course, perfectly acceptable.

If the insurance was not compulsory and you were told that it was anyway, that would be mis-selling.

There is no regulatory requirement for the insurance to be optional.

Basically, if you were lied to then you were mis-sold.

Unfortunately, all this is moot since you have no one still trading to complain to.