Help/Advice please!

nicolaf

Hi,
My claim for ppi has just been rejected by Santander.

The letter says I had a ppi policy on my account but I was never charged any premuims since the policy was sold. It goes onto say that they have considered whether there was an unfair relationship arising out of the agreement under the consumer credit act 1974, because they didnt explain the commission and profit share that was paid to them for selling the insurance. The outcome of that was because no financial loss was suffered as a result of the sale then they dont believe I am due any redress.

1. is there any point going to the financial ombudsman ?
2. Do I have a case for Plevin? or would Santander have advised me if I did ?

:huh::huh::huh::huh:
Thanks in advance

[Deleted User]

If you never paid anything, then you've already had a full refund, under both Plevin and mis selling.

nicolaf

yeah, I never paid ppi but because the bank added it onto my account they made commission from it ? that's what doesn't seem right to me.

nicolaf

....and how can ppi have been on a personal loan account but I wasn't charged for it ? I just don't understand !

BooJewels

nicolaf wrote: »

[...] It goes onto say that they have considered whether there was an unfair relationship arising out of the agreement under the consumer credit act 1974, because they didnt explain the commission and profit share that was paid to them for selling the insurance. The outcome of that was because no financial loss was suffered as a result of the sale then they dont believe I am due any redress.

2. Do I have a case for Plevin? or would Santander have advised me if I did ?

The bit in the first part of your quote about an unfair relationship due to undisclosed commission is the bit about Plevin. They've seemingly decided that as you didn't actually pay any premiums there is nothing to refund and no redress to be made.

Any settlement you get through either PPI mis-selling or the more recent Plevin commission issues are based on your actual loss, plus any interest those payments potentially incurred and then simple compensatory interest on top, the idea being that it puts you back into the position you would have been without that expenditure on insurance. If you didn't lose any money, because you paid no premiums, there's no redress to make. Either as a PPI mis-selling issue, or under Plevin.