Bank rejects MPPI claim - it does not keep records beyond the year 2000

colin333

My bank rejected our claim for mortgage PPI mis-selling since it does not keep records beyond the year 2000 and has no record of an account. I have written proof that we had the policy so does anyone know the best course of action we can take to bring this to a positive outcome?

BoGoF

Who sold you the policy?

colin333

Lloyds Bank

dunstonh

Not an unexpected outcome as most MPPI complaints fail.

I have written proof that we had the policy so does anyone know the best course of action we can take to bring this to a positive outcome?

Supply them with evidence of payment.

McKneff

You dont get it back just because you paid it however much proof you have.
You also have to have proof of miss selling.
Do you have any.

Dont hold you breath, as said above, most of these complaints fail

Whitterbod

I had mortgage indemnity guarantee, ,, (mig) with nationwide building society like ppi, but it was on a 95% mortgage no claim as it did what it was sold to do, as it was my first mortgage, think the intrest rate was around 15%,

antrobus

colin333 wrote: »

My bank rejected our claim for mortgage PPI mis-selling since it does not keep records beyond the year 2000 and has no record of an account....

I think you mean before 2000. Which was 18 years ago.

colin333 wrote: »

I have written proof that we had the policy so does anyone know the best course of action we can take to bring this to a positive outcome?

On what grounds are you claiming the MPPI was mis-sold?

Spurs501

Hi - interesting thread

I am currently trying to claim mis sold Mortgage PPI from Woolwich (now Barclays)

Why are most MPPI claims unsuccessful?

dunstonh

Spurs501 wrote: »

Hi - interesting thread

I am currently trying to claim mis sold Mortgage PPI from Woolwich (now Barclays)

Why are most MPPI claims unsuccessful?

Some types of PPI have product failings and also issues about what they are covering. In particular loan PPI. Other types of PPI have fewer issues.

Regular premium MPPI can still be bought today. One of two types that can. It is generally regarded, including by the FCA and the FOS, as a more important product covering a major secured debt with lifestyle changing consequences if it goes unpaid. The majority of MPPI was standalone monthly premium direct debit. Just as PPI should have been set up (not factored into the debt).

The FOS typically uphold complaints about loan PPI where people have decent sick pay. yet they reject complaints on MPPI where people have 12 months sick pay (the typical maximum). That is because mortgages are long term and not short term.

Spurs501

This all makes sense - thank you for explaining.

Sounds like my complaint will be thrown out then - no harm in trying I guess!