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Comments
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From memory
1995
Yes
Advisor0 -
Would it still be worth doing ?0
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Hi, sorry to jump in to this but I really need some help. In 2006 we got our first mortgage with Northern rock but a large amount of it had to be in the form of a loan. I am trying to find out if PPI was attached to the loan but all I have is my mortgage number, NRAM have confirmed they did not provide ppi, however the mortgage was arranged by an advisor/broker at the estate agents which was acting on behalf of the vendor. Who if anyone will have the details of this?0
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You would put your complaint to the broker, if you believe they mis sold you PPI.0
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Would it still be worth doing ?
No. NR have no liability for the sale of third parties.
Adviser/brokers only became regulated in January 2005 and are not required to consider pre-regulation complaints.
Plevin is not an issue with regular premium MPPI sold via broker/advisers. Typical commission was 20-35%. No profitshare. It has to be over 50% to get anything.
Even banks had less than 50% commision on their MPPI and its only the profitshare that is taking it over the tipping point.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi, sorry to jump in to this but I really need some help. In 2006 we got our first mortgage with Northern rock but a large amount of it had to be in the form of a loan. I am trying to find out if PPI was attached to the loan but all I have is my mortgage number, NRAM have confirmed they did not provide ppi, however the mortgage was arranged by an advisor/broker at the estate agents which was acting on behalf of the vendor. Who if anyone will have the details of this?
If NRAM said you didnt have PPI on the loan then you wont have PPI on the loan. The broker couldnt factor in their own arranged PPI into the loan segment.
If you were paying regular premium MPPi arranged via the broker, it would be a monthly direct debit standalone from the mortgage.
You can ask the estate agent as its a post regulation case.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks for the detailed advice.0
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