Nationwide PPI claim declined

PeterEH

Hi All

Put a claim in about six weeks ago, which came back today as declined,

Lots of reasons given.

Is there anything I can do about this?

[Deleted User]

You can go to the Ombudsman. This option will have been outlined in your decline letter.

Why do you disagree with their decision? 'Lots of reasons' sounds like quite a robust decline.

[Deleted User]

PeterEH wrote: »

came back today as declined,

Lots of reasons given.

If you want a detailed response, you'll need to detail here exactly what reasons the bank gave for rejecting your complaint.

PeterEH

* That I had had plenty of time to change my mind

* That I was under no obligation to to take out the PPI as the cover was not compulsory and didn;t form part of the Mortgage Terms and Conditions

*Renewal notices for the PPP were sent every year and it was my responsibility to review the cover and its suitability at this point

* Annual Mortgage Statements were sent to me and these included details of the Mortgage Payments and PPI costs.

* It was my decision to take out the PPI Policy and to decide the level of cover it provided, There was evidence that I had taken time to consider these options .

* As the Policy was sold on an non-advised basis Nationwide were not required to confirm details of my personal circumstances or to assess the suitability of the Policy. The only requirement was to provide information, and this was given in the form of the leaflet, which Nationwide argue I had obviously read and considered

[Deleted User]

Which of those reasons do you disagree with?

[Deleted User]

So this is Mortgage PPI.
The rejection you received was to be expected given that you appear to have only complained you were told the insurance was compulsory when it wasn't. Complaints are rarely upheld solely on this basis.

I think you'd find also find that the Ombudsman will not overturn this rejection, given the fact that the Bank say they have evidence of you being allowed time to consider the benefits of the insurance before you chose to have it.

Realise that MPPI is still retailed today and does not have the same generic mis-selling problems that loan and credit card PPI have.

Do you have any other evidence that there was a mis-sale? Did the insurance cover your personal circumstances?

PeterEH

No evidence. It seems to have been sold in genuine good faith and I don't have much of a case.

[Deleted User]

PeterEH wrote: »

No evidence. It seems to have been sold in genuine good faith and I don't have much of a case.

As I said, take comfort in the fact that MPPI is a useful insurance which is still retailed today. While it's not impossible for it to be mis-sold, it's far less likely than for loan and credit card PPI.

dunstonh

* That I had had plenty of time to change my mind

Which is true. You are posted cancellation rights. Also, nationwide PPI was very commonly sold with a 12 month free period and you only paid if you opted in after the 12 months.

* That I was under no obligation to to take out the PPI as the cover was not compulsory and didn;t form part of the Mortgage Terms and Conditions

Which is true. So, if you used that as a complaint reason, it was a bad reason to use.

*Renewal notices for the PPP were sent every year and it was my responsibility to review the cover and its suitability at this point

Which is again true.

* As the Policy was sold on an non-advised basis Nationwide were not required to confirm details of my personal circumstances or to assess the suitability of the Policy. The only requirement was to provide information, and this was given in the form of the leaflet, which Nationwide argue I had obviously read and considered

This one is important as non-advised sales are not required to cover off the same things as advised sales. So, if they say it was non-advised, any complaint reason that only applies to advised sales will not work.

So, if you are taking this to the FOS, knowing that the FOS reject most MPPI complaints (as its different to loan and credit card PPI), what reasons are you going to give the FOS as to why you think the Nationwide rejection is wrong? What evidence do you have to support your reasons?

PeterEH

Well, there you are. The Policy was correctly sold and was probably a good one, Obviousy nothing to complain about! Nothing to see here!