Reclaiming ppi from underwriters pre 2005

jandjuk

Hi all first time poster here. I am trying to find some advice on a ppi claim ive made recently against Countrywide principal services.Trawling through these forums show me that there are alot more knowledgeable people on this subject than i am.
I decided recently to claim ppi that i was sold while applying for a mortgage back in 2000,at the time i was told that i would not be eligible for said mortgage without it ( mis-selling ? ).
I used the sites Resolver software to set up my letter with all relevant paperwork and details that i could remember at the time,like where the ppi was sold from ( Nationwide in house financial advisor ) whom i had the mortgage with.
I did have a rejection letter back within three or for days :

"As the event you are complaining about took place more than six years ago we believe your complaint is time-barred under the limitation act 1980.This allows us to reject your complaint without considering its merits"

Although i supplied the reference number from the policy which im still paying at the moment and never missed a payment in seventeen years so the policy is still live.So i have my reservations about this.
Also
"As the policy was sold prior to Financial Conduct Authority regulation in January 2005 the complaint also falls outside of the jurisdiction of the Financial Ombudsman Service and we do not give them any jurisdiction to look at policies sold prior to January 2005"

I have read into this also and this seems to ring true.But the underwriters of the policy are AXA insurance (FCA member since 1997) ,so i was wondering where this leaves me on claiming off the underwriters of the policy or the brokers.
Any advice on this subject or anybody whose had a similar experience to myself would be much appreciated ,sorry for a long 1st one but thought i better cover it all .
Just feels that the rejection letter was a bit of a fob off and im at a bit of a dead end now.
Thanks in advance

dunstonh

I decided recently to claim ppi that i was sold while applying for a mortgage back in 2000,at the time i was told that i would not be eligible for said mortgage without it ( mis-selling ? ).

That is not necessarily misselling.

1 - There were lenders that insisted on MPPI as part of the deal to get that particular mortgage rate. i.e a cross subsidy deal. That was allowed. Although a mortgage broker isnt likely to have used them.
2 - Mortgage brokers often have a pricing deal where they provide "free" mortgage advice and set up as long as you purchase insurance via them. That is also allowed as long as the insurance is suitable.

"As the event you are complaining about took place more than six years ago we believe your complaint is time-barred under the limitation act 1980.This allows us to reject your complaint without considering its merits"

That rejection letter is wrong. It does not apply to financial services when using the regulated complaints process. It can apply to the courts if you were using that method though.

Also
"As the policy was sold prior to Financial Conduct Authority regulation in January 2005 the complaint also falls outside of the jurisdiction of the Financial Ombudsman Service and we do not give them any jurisdiction to look at policies sold prior to January 2005"

However, that one is valid. Most mortgage brokers were not regulated until Jan 2005. So, anything prior to that date can be rejected as being prior to regulation. That is the response you would normally expect to get.

I have read into this also and this seems to ring true.But the underwriters of the policy are AXA insurance (FCA member since 1997) ,so i was wondering where this leaves me on claiming off the underwriters of the policy or the brokers.

That does not work with mortgage brokers.

Just feels that the rejection letter was a bit of a fob off and im at a bit of a dead end now.

The rejection letter is correct on the second point. Complete rubbish on the first point (unless you were threatening legal action and they were covering that off).

jandjuk

Thank you dunstonh for your detailed reply,makes sense now.
I thought that the letter wasnt quite right throughout .
Hay -ho worth a shot ,thanks again