National Home Loans PPI

Sharp_Arrow

I had a loan with National Home Loans starting around 1991. I have progressed a search with Paragon Bank (now the owner of National Home Loans) concerning PPI and they have confirmed that both the loan and PPI existed on it. They have also said that the files have been destroyed and that they have little or no information concerning this loan. They have referred me to the broker for any claim that I might make. The broker who arranged the loan no longer exists yet I have documentation from National Home Loans dealing with the PPI directly so they surely must have some responsibility here. Also if the files have been destroyed how can they possibly know that a broker was involved? Should I proceed with a case against Paragon Bank on this basis or is this dead in the water?

Many thanks for the assistance.

[Deleted User]

You can't progress a case against Paragon Bank as they didn't sell you PPI.

You have no one to complain to. It would also be pre regulation even if you did.

dunstonh

hey have referred me to the broker for any claim that I might make. The broker who arranged the loan no longer exists yet I have documentation from National Home Loans dealing with the PPI directly so they surely must have some responsibility here.

You were sold PPI by the broker. Not the lender. You complain to the seller not the provider.

Also if the files have been destroyed how can they possibly know that a broker was involved?

Files get destroyed but electronic fragments of data get left behind that can leave a few bits of information. For example, back in the 90s, you needed a different CCA agreement for loans with PPI and loans without. So, the account code attached to the account number would be different. Some lenders in that period only dealt via brokers. So, they could know that without having any paperwork. Or they could have a different account number range for broker arranged and self arranged. Or a different account code.

Should I proceed with a case against Paragon Bank on this basis or is this dead in the water?

Paragon have no case to answer as none of their staff or representatives sold it to you.

As it was broker sold and 14 years before regulation of insurance. Broker no longer exists. So, you cant complain to them and the FSCS only applies to post-regulation sales. So, you cant use them. And the FOS cant look at pre-regulation sales from unregulated sources. So, you have no-one to proceed the complaint with.

[Deleted User]

Sharp_Arrow wrote: »

I have documentation from National Home Loans dealing with the PPI directly so they surely must have some responsibility here. Should I proceed with a case against Paragon Bank on this basis

Any attempt to "proceed with a case" against Paragon Bank will simply be rejected on the basis that the Bank did not sell you the insurance. They've already told you this. Since the broker who did sell you the insurance has ceased trading and the sale took place long before regulation (2005), any complaint you might make is indeed "dead in the water."

You've been wasting your time with this from the beginning.