Declined PPI Claim..Are they fobbing me off?

shinho

Hi All,

I submitted a claim in July last year for my mortgage PPI that I have been paying for over 20 years, and was basically fobbed off.
Now that the deadline is coming close I want to double check this is a legit reason for basically telling me to get lost!

Here was the reply.....

Dear Gareth

Thanks for taking the time to email me on the 28th July 2018 to confirm that you had not heard from intermediary responsible for the sale.
As confirmed in my reply, the firm is no longer trading.

Unfortunately, this means your complaint does fall outside of our normal jurisdiction due to the intermediary responsible for the sale is no longer trading and your policy being sold prior to the regulation of broker firms by the FSA in 2005, meaning you are unable to take your complaint to the Financial Ombudsman Service.

However, we have investigated your complaint fully and I have now come to a decision.

Unfortunately, I am unable to uphold your complaint.
I appreciate this is not the outcome you were hoping for and would like to take this opportunity to outline the reason behind my decision

As per my previous letter, I would like to reconfirm that the policy was not sold by Paymentshield who are the administrator of the insurance, but by an independent firm called Mortgages Direct TMX Darlows.
According to our records and those of the Financial Conduct Authority, this firm is no longer trading Therefore, I am unable to comment on any conversations or processes that took place at point of sale.

I can see that documents were issued to you on the 27th October 1997, 21st May 1998, 16th May 2002, 17th September 2009 18th February 2010, 18th March 2010, 23rd November 2010, 22nd March 2013, 16th December 2013, 24th March 2014 18th June 2014, 2nd July 2014 and 11th February 2016

These documents would have contained information about the cover, such as the terms, cancellation rights and the monthly cost.
They would also have contained our contact details should you have wished to cancel or change any of the details on the cover.





I wish I had Martin Lewis on speed dial!
...And to my knowledge I have not received these letters either.

-taff

Forget it, you were sold it pre regulation by someone who was not regulated and no longer trading.
It's not fobbing off [aaaarrgghhh!] it's perfectly correct.

[Deleted User]

Their response is entirely free of any off-fobbery.

Nasqueron

Your problem is that you complained to the wrong person. You tried to complain to the provider who didn't sell you anything, QED they cannot be guilty of miss-selling.

As -taff said, you were sold the product by a broker. Brokers were not regulated until 2005 so again do not have to consider complaints about miss-selling. Even if it was after 2005, the firm is no longer trading so you have no-one to complain to.

As the letter said, your complaint is over with no access to the FOS. As it was in July last year you are out of date for an FOS referral anyway.

dunstonh

I submitted a claim in July last year for my mortgage PPI that I have been paying for over 20 years, and was basically fobbed off.

Most MPPI complaints fail. So, before you even started, you would have known that was the most likely outcome.

You were also complaining about a broker. Brokers account for under 1% of PPI complaints and even an even lower uphold rate. Indeed, during the oriignal consultation, there was consideration made to exclude the types of PPI that brokers sold.

Unfortunately, this means your complaint does fall outside of our normal jurisdiction due to the intermediary responsible for the sale is no longer trading and your policy being sold prior to the regulation of broker firms by the FSA in 2005, meaning you are unable to take your complaint to the Financial Ombudsman Service.

This is correct. Regulation started in Jan 2005.

As per my previous letter, I would like to reconfirm that the policy was not sold by Paymentshield who are the administrator of the insurance, but by an independent firm called Mortgages Direct TMX Darlows.

This is also correct. You have complained to the wrong place. Its a bit like buying something from Sainsbury but then complaining to Tesco.

Paymentshield didnt sell you any product.

Declined PPI Claim..Are they fobbing me off?

No. The correct response has been given. On the plus side, Paymentshield is a quality provider and does not have onerous conditions and only does monthly premium. You can still buy it today as its one of the good types of PPI.

Indeed, its more likely you are trying it on than they are.