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Ppi
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Nikki_BBB
Posts: 3 Newbie
Hi
Many years ago I was told by a bank that I needed PPI when taking out a mortagage, however their cover was so expensive - I sourced a cheaper one (which my husband and I did not need). Can I bring a case against the bank, I have evidence that I refused theirs on a cost basis?
Any advice appreciated
Many years ago I was told by a bank that I needed PPI when taking out a mortagage, however their cover was so expensive - I sourced a cheaper one (which my husband and I did not need). Can I bring a case against the bank, I have evidence that I refused theirs on a cost basis?
Any advice appreciated
0
Comments
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Of course not. You didn't buy a policy from them.
Mis selling means at the very least that they had to have sold you something!0 -
Can I bring a case against the bank
No. As you did not buy their product, they have no liability for the purchase you made.
Remember the PPI issue is not about the product. It is about the advice given. The provider you bought through is responsible for the advice. Unless you bought the PPI without advice direct from a provider. In which case, you get lower consumer protection as you never received advice.
A very similar scenario happened with endowments where the COnsumers Association (Which?) used to tell people to save money by buying endowments on execution only basis. Those people gave up their ability to complain in much the same way.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 -
Hi
Many years ago I was told by a bank that I needed PPI when taking out a mortagage, however their cover was so expensive - I sourced a cheaper one (which my husband and I did not need). Can I bring a case against the bank, I have evidence that I refused theirs on a cost basis?
Any advice appreciated
Wow. Compo culture ratchets up to 11.0 -
Hi
Many years ago I was told by a bank that I needed PPI when taking out a mortagage, however their cover was so expensive - I sourced a cheaper one (which my husband and I did not need). Can I bring a case against the bank, I have evidence that I refused theirs on a cost basis?
Any advice appreciated
What exactly is the case you want to raise? Do you mean you refused it and they put it on anyway or you refused it and you didn't take it out? If you didn't take it out, what are you complaining about?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Really?
That would be like me complaining to Tesco I bought Asdas toilet roll because it was cheaper....But I still didn't need the toilet roll anyway....[except i did because otherwise I'd have bought the toilet with cash, not taken out a loan to buy it]Non me fac calcitrare tuum culi0 -
Please dont give the OP ideas.0
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