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Rapide Mortgage Services PPI
fjscott
Posts: 1 Newbie
Could anyone help me with this??? I think this could beat even Martin!!
In 1997 my husband and I re mortgaged with Rapide Mortgage Services(not to be confused with Rapid Mortgage Services). We could only get the mortgage if we took out PPI which cost £3234 which was taken out of the Mortgage advance. In other words mortgage total increased to cover the PPI. As my husband was self employed it was sold that we had to have to cover or no mortgage. I still have the paperwork and certificate. Here the problem begins.
The wording on the certificate is LLOYDS INSURANCE, effected through Marketing & Management Services Ltd for RAPIDE MORTGAGE SERVICES. The plan was called RMS Elite Care, they must of been pushing this plan for a while as I managed to find a race at Fontwell in April 1999 called the Rapide Mortgage Elite Care Hurdle!!! Lloyds have said nothing to do with them as it was sold through a broker. Any suggestions???
In 1997 my husband and I re mortgaged with Rapide Mortgage Services(not to be confused with Rapid Mortgage Services). We could only get the mortgage if we took out PPI which cost £3234 which was taken out of the Mortgage advance. In other words mortgage total increased to cover the PPI. As my husband was self employed it was sold that we had to have to cover or no mortgage. I still have the paperwork and certificate. Here the problem begins.
The wording on the certificate is LLOYDS INSURANCE, effected through Marketing & Management Services Ltd for RAPIDE MORTGAGE SERVICES. The plan was called RMS Elite Care, they must of been pushing this plan for a while as I managed to find a race at Fontwell in April 1999 called the Rapide Mortgage Elite Care Hurdle!!! Lloyds have said nothing to do with them as it was sold through a broker. Any suggestions???
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Comments
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Respectfully what you have been told is correct - brokers sales before 2005 were not regulated and as such they do not have to do anything (Lloyds especially as they didn’t even sell the policy so cannot possibly consider a mis-sale complaint).
Sadly there is nothing more you can do in this scenario.0 -
No it wouldn't. Lloyds are correct.I think this could beat even Martin!!
Any mis-selling complaint would obviously have to be made against the seller. Lloyds didn't sell it to you, so have no liability. There's no confusion . .Lloyds have said nothing to do with them as it was sold through a broker.0 -
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Could anyone help me with this??? I think this could beat even Martin!!
No it wouldnt. The information you have been told is correct.Lloyds have said nothing to do with them as it was sold through a broker. Any suggestions???
Lloyds Bank and Lloyds of London are two different things. As is Lloyds Chemist.
However, its not the provider or underwriter that matter here. It is the seller. The seller was a broker and they were not regulated until Jan 05.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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