Nationwide Plevin Failure

Hellsacc

Yes, thanks. Might have used the wrong terminology, Nationwide term it as MPPI.

Hellsacc

dunstonh wrote: »

Nothing in your post indicates you had PPI. Are you aware that PPI is a particular type of insurance policy? It is not a catchall term covering all types of complaint.

Thanks, I understood that is what it said.

Hellsacc

-taff wrote: »

You had an interest only mortgage where you should have had a separate policy that would [supposedly] make a good return on any savings you put into which would pay off the lump sum required after the interest only mortgage ended.

They are saying that the investment portion of that didn't come up to spec.

They are not saying anything about PPI at all.

They are saying that if they had the said the entire mortgage was missold i.e the interest only mortgage , IF there were any linked policies, they would have told them to refund you, but it wasn't, so there weren't, so you weren't.

Exactly, they were just clarifying it 'Short-fell' and was not mis-sold. (for which I received compensation at a later date).

And after me just checking the Nationwide initial PPI claims they(Nationwide) verified I had the MPPI (which they insisted I needed due to the 100% endowment). This commenced immediately when the mortgage started.
I think me saying PPI (instead of MPPI) is confusing the issue, there is no disputing from either Nationwide or the Ombudsman that I have been paying these premiums.

Hellsacc

Additional snippet of information from one of Nationwide's replies, to just try prove I had the cover:-

The policy would have been discussed with you during the mortgage interview and this included being made aware of the main exclusions and restrictions to the policy as well as its main features and benefits. It was your choice to take your mortgage with Nationwide and thus have compulsory MPG as a result of this decision.
The MPPI policy commenced accordingly. At that time, you were sent a Policy Schedule which showed the cover and the costs involved. A Policy Document was also issued which provided full details of this policy.
Regards
H

dunstonh

The problem on this thread was that you added the info about the PPI policy after several posts. Initially, you were referring to the mortgage or the endowment policy.

[Deleted User]

dunstonh wrote: »

The problem on this thread

The problem on this thread is that the PPI was and is irrelevant. The complaints have failed on all fronts and the OP has nowhere left to go with them..

-taff

Hellsacc wrote: »

Additional snippet of information from one of Nationwide's replies, to just try prove I had the cover:-

The policy would have been discussed with you during the mortgage interview and this included being made aware of the main exclusions and restrictions to the policy as well as its main features and benefits. It was your choice to take your mortgage with Nationwide and thus have compulsory MPG as a result of this decision.

So your interest only mortgage had compulsory MPG, WHich means you had to have it.
If the mortgage had been missold, the compulsory nature of the MPG meant that too would have been missold, but since it wasn;t, you don't get that back.

Next time, can you include all the info to start with?

Hellsacc

-taff wrote: »

So your interest only mortgage had compulsory MPG, WHich means you had to have it.
If the mortgage had been missold, the compulsory nature of the MPG meant that too would have been missold, but since it wasn;t, you don't get that back.

Next time, can you include all the info to start with?

Yes, thanks you are probably quite right, just did not think I would be questioned about have the initial PPI(MPPI), just wanted to know more about the Plevin response!!

Hellsacc

Hellsacc wrote: »

Yes, thanks you are probably quite right, just did not think I would be questioned about have the initial PPI(MPPI), just wanted to know more about the Plevin response!!

New to these forums and probably won't use them again, just the same as I should not have taken on the long winded PPI claim with Nationwide (started 8/11/2011 until 21/3/14 including Ombudsan). Draining!! In comparison Halifax paid out in full in weeks. :T:T

-taff

Hellsacc wrote: »

Yes, thanks you are probably quite right, just did not think I would be questioned about have the initial PPI(MPPI), just wanted to know more about the Plevin response!!

This whole thread going off topic was probably my fault to start with so apologies for that

So anyway, the Plevin respnse is that there was no relationship that was unfair to you in the way that the mortgage and MPG was sold to you, so basically, any redress via Plevin doesn't apply.