Nationwide claiming Plevin doesn't apply to them?

splodgebunny

Hi all

I've had a response back from Nationwide on my Plevin complaint saying that their policies aren't affected by Plevin as they were sold outside of s.140 of the Consumer Credit Act.

I don't have a 'general' PPI complaint with them because I believe was eligible and did know I had it. My only complaint really is with the Plevin commission which I don't think I was informed about (having lost the paperwork years ago). I had 2 policies originally taken out in 2004 and 2005 if that makes a difference

The full response on commission is as follows:

"You may be aware of the current 'non-disclosure of commission' issue which has been highlighted following the recent court judgement in the case of Plevin c Paragon Finance

The Financial Conduct Authority (FCA) has consulted on this and is currently considering making changes to its PPI complaint handling rules to take account of the implications of this court judgement. While they are not ready to provide a full positioning statement, they have made it clear this issue is restricted to PPI sales made during the relevant period set out by s.140 of the Consumer Credit Act. As the policies were sold outside this period we do not agree there was a requirement for this discolosure and you will not be affected by the change in the rules"


Does this sound right?

[Deleted User]

splodgebunny wrote: »

Does this sound right?

Yes, Plevin only applies to finance still in place in 2008 so your "complaint" is not valid.

Do you really think the Bank would send you a detailed letter explaining why this is if it wasn't accurate?

Plevin also only applies to rejected PPI complaints and you said you had no such complaint...

Nasqueron

Moneyineptitude wrote: »

Yes, Plevin only applies to finance still in place in 2008 so your "complaint" is not valid.

Do you really think the Bank would send you a detailed letter explaining why this is if it wasn't accurate?

Plevin also only applies to rejected PPI complaints and you said you had no such complaint...

There are 1 or 2 (including Barclays) who accept a Plevin only commission complaint ignoring the PPI policy where you can see if you are due a refund under Plevin while still keeping the PPI policy, probably not many people affected by it though

splodgebunny

Moneyineptitude wrote: »

Yes, Plevin only applies to finance still in place in 2008 so your "complaint" is not valid.

Do you really think the Bank would send you a detailed letter explaining why this is if it wasn't accurate?

Plevin also only applies to rejected PPI complaints and you said you had no such complaint...

I do have a previous complaint rejection for the PPI

Those were the dates the policies were taken out, not when they ended. So if they were still active in 2008, the complaint would be valid still?

Nasqueron

Active in 2008 is not the only part that is applicable.


For Plevin to apply, the product must still have been active by 6/4/2008
Further, the PPI must be sold at the same time as the credit agreement
Further, the sale must also fall under s.140 of the Consumer Credit Act as they stated so this means any "regulated" credit such as mortgage completed after 31/10/04 is not under the CCA so Plevin doesn't apply

dunstonh

The criteria for Plevin is that existing plans had to be PPI only (not other insurances, like life assurance), had to be directly linked to the debt and bought as the same time (so not bought post sale of the debt) and had to cover a debt that was regulated under the CCA. For example, mortgages bought in 2004/5 would not be covered under the CCA. They were put in place under MCOB.