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Buying PPI to help with your Mortgage Application
sjbradle
Posts: 1 Newbie
Recently took our claim to Santander and the Financial Ombudsman based on MSE advice...
A. Were you told it was compulsory?
It's a common complaint that consumers are told they must buy a policy from the same provider as the loan to be accepted for the product. This is mis-selling.
Implied or insisted you take out their policy to qualify for the product or help with your application.
It was rejected twice by both, Santander and the Ombudsman.
Having searched the Ombudsman Database on settled claims, I can't find a single claim that has been upheld based on this type of mis-selling. It maybe mis-selling and against their code of conduct, but it appears no evidence, no refund.
A. Were you told it was compulsory?
It's a common complaint that consumers are told they must buy a policy from the same provider as the loan to be accepted for the product. This is mis-selling.
Implied or insisted you take out their policy to qualify for the product or help with your application.
It was rejected twice by both, Santander and the Ombudsman.
Having searched the Ombudsman Database on settled claims, I can't find a single claim that has been upheld based on this type of mis-selling. It maybe mis-selling and against their code of conduct, but it appears no evidence, no refund.
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Comments
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What was your mis sale reason?
That MSE advice is not entirely accurate.0 -
Your complaint failed and you've now exhausted the complaint process.Recently took our claim to Santander and the Financial Ombudsman based on MSE advice...
You surely aren't hoping to find MSE somehow responsible for that failure?
As with all "hearsay" type complaints I'm afraid.it appears no evidence, no refund.0 -
It was rejected twice by both, Santander and the Ombudsman.
Not unexpected. Most MPPI complaints fail.Having searched the Ombudsman Database on settled claims, I can't find a single claim that has been upheld based on this type of mis-selling. It maybe mis-selling and against their code of conduct, but it appears no evidence, no refund.
That is generally how English law works.
Remember that every try-it-on/fraudulent complaint being made also says they were told they had to have it. Your word cannot be accepted as gospel.
Plus, technically, the MSE "advice" is wrong. It was possible, especially with mortgage deals, for MPPI to be compulsory to get that particular mortgage deal. Very common in the mid 90s but went away by early 2000s.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
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