Joint Mortgage but Single PPI

KezHaz

I am in the middle of a claim for PPI for a mortgage with Danske Bank. They have offered me Plevin but I don't plan to accept it as I feel strongly I was missold on the basis that I was told I had to have it. I have been offered two amounts for two protection policies but for one of them the mortgage was in joint names but the PPi was only in my name. The bank won't pay out the offer without my ex girlfriends signature however she didn't pay for any of the PPI - it all came out of my single bank account. If they are paying me some compensation based on the fact that they weren't transparent about their commission and plan to pay some of this commission back to me why should my ex girlfriend benefit when she didn't pay any of this amount for the PPI policy ? Also why can't the bank just pay half of it out without a signature from the other party ? Thanks Kerri

dunstonh

They have offered me Plevin but I don't plan to accept it as I feel strongly I was missold on the basis that I was told I had to have it.

And what evidence do you have to support that allegation?

If they are paying me some compensation based on the fact that they weren't transparent about their commission

The FCA never required commission disclosure. It is a jammy outcome where the consumer is getting lucky.

why should my ex girlfriend benefit when she didn't pay any of this amount for the PPI policy ?

Plevin does not apply to a failure under FCA rules (as mentioned). It applies because of a failure under the consumer credit act. Your debt was a joint debt. Therefore both borrowers were impacted by it.

Also why can't the bank just pay half of it out without a signature from the other party ?

This is inconsistent across lenders. However, the FOS does support the "needing signature" requirement.

KezHaz

Hi thanks for replying to me. Reference evidence to support the allegation that PPI was missold - I was atrongly advised I had to have it in order to have my mortgage with the bank. To cover the debt could I not pay it Otherwise I would not have taken it out. The adviser made a special trip to my house to deal with the ppi aspects whereas the mortgage aspects were dealt with at the bank. The paperwork does not refer to the policy being optional only a line around a 30 day cancellation period which I would never have considered because of the way the policy was presented to me. What would the FOS expect to see as evidence ? Thanks

dunstonh

Reference evidence to support the allegation that PPI was missold - I was atrongly advised I had to have it in order to have my mortgage with the bank.

That is not evidence. It is an allegation. It is almost certainly unproveable. Plus, mortgage advisers are meant to disturb and make you aware of consequences and risks and hot to mitigate them. So, discussion on the subject is to be expected.

Very few complaints get upheld on that particular complaint reason. It is just about the weakest of all the complaint reasons.

The adviser made a special trip to my house to deal with the ppi aspects whereas the mortgage aspects were dealt with at the bank.

I would keep that quiet if I was you. If the lender knew that, they could refuse a Plevin payout.

The paperwork does not refer to the policy being optional only a line around a 30 day cancellation period which I would never have considered because of the way the policy was presented to me.

You wouldnt expect to see paperwork that says it was optional on that type of PPI.

What would the FOS expect to see as evidence ? Thanks

In reality, they would not expect any evidence to be available to support your allegation. And they will disregard it. In the vast majority of cases like yours, they cannot uphold on an unprovable allegation but will then look at whether you had a financial need for it and if you are suitable and eligible for it. With most MPPI complaints, they find it is the case and reject. MPPI complaints are mostly rejected by the FOS. Some get upheld but its the lowest uphold rate of any type of PPI.

We dont have the benefit of the audit trail here and only have what you are telling us. However, I would not get your hopes up. Statistically, you are in track for rejection by the FOS if there are no other complaint reasons that can be found.