Old loans & Mortgage

Ferferksake

Hi everyone, 2 things I'm looking into - I always like to leave things until the last minute!


1) I had a mortgage in 1992 through Northern Rock with my ex, now late husband. We had to take their buildings insurance (no option to shop around) and I'm pretty sure we also got stung for PPI at the same time, although this was against my name as the main borrower since he was temp contracting all over. However, I was salaried so would get full sick pay so PPI was not really of any use. This was paid off in 2006. Am I too late to try to reclaim anything and if I can claim, is it just for the PPI or for the buildings insurance too? I have the mortgage account number. We had a secured loan at some point through them too, but I don't have any details on that now though.



2) AA personal finance. I had about three personal loans over about eight years (1998 - 2006 is my best guess). Unfortunately I can only find the paperwork for the most recent one and I was certainly clued up on saying "no" to PPI by then, but I'm pretty certain I had it for the first loan when I was made to feel it would negatively impact my chance of being approved if I didn't have it. I've read that the AA don't seem to be very helpful, destroying records after 6 years (or claiming to have done). Am I going to be on a loser with this one?


Thanks for reading.

[Deleted User]

Ferferksake wrote: »

had a mortgage in 1992 through Northern Rock with my ex, now late husband. We had to take their buildings insurance (no option to shop around) aAm I too late to try to reclaim anything and if I can claim, is it just for the PPI or for the buildings insurance too?

You cannot complain (and you won't be refunded) Building Insurance on the basis that it was compulsory I'm afraid. It was only in 2000 that lenders were forbidden from requiring that their own insurance be used.

Ferferksake wrote: »

I've read that the AA don't seem to be very helpful, destroying records after 6 years (or claiming to have done).

The Data protection act 1994 (and subsequent amendments/acts) requires the destruction of data when it is no longer required. The FCA recommend different destruction points but 6 years after the event is the most common. Some firms will keep data longer for existing customers but speed up destruction once the business relationship ends.
So, if the AA say they have no records of you older than six years then they are simply complying with the law, nothing to do with being (or not being) "helpful".
Face it, you don't even know for sure you had PPI on these loans and yet you've still managed to manufacture a "complaint" about what was said during the sale?

SonOf

We had to take their buildings insurance (no option to shop around) and I'm pretty sure we also got stung for PPI at the same time,

Back then, it was quite normal and allowed. So, no issue there.

However, I was salaried so would get full sick pay so PPI was not really of any use.

If that is the case, why do you think the FOS reject most complaints that use sick pay as a reason when it comes to MPPI?

is it just for the PPI or for the buildings insurance too?

What exactly do you think is wrong with the buildings insurance?

I've read that the AA don't seem to be very helpful, destroying records after 6 years (or claiming to have done). Am I going to be on a loser with this one?

The regulator recommends the destruction of records around 6 years after repayment. Are you suggesting the AA is wrong in some way by following regulatory guidence on the data protection act?

Ferferksake

SonOf wrote: »

If that is the case, why do you think the FOS reject most complaints that use sick pay as a reason when it comes to MPPI?

I had no idea that they did and have no idea why, which is why I'm here asking for guidance. Does that mean I should try to claim somewhere from someone (Northern Rock went bust anyway didn't they?) or not? :huh:

SonOf wrote: »

What exactly do you think is wrong with the buildings insurance?

Nothing other than the fact that the provider & policy was forced on us without a choice - but as you say, that was allowed back then so I'll scratch that off my "to look into" list

SonOf wrote: »

Are you suggesting the AA is wrong in some way by following regulatory guidence on the data protection act?

Not that, but I read an old post in the CAG forum while trying to find out about them and somebody had been told by AAFS that they no longer held their record. After more digging the customer was able to find an agreement number (although nothing more) and went back to AAFS who were then able to deal with the claim. Their impression was that they had been told porkies. They may have been wrong.



To put a bit more perspective on the AA loan(s): I was fleeing domestic violence at the time of the first loan so I had just changed address and job - things which can make lenders twitchy. I'm 99% sure I had PPI on the first loan. I can remember discussions about how it would give them more confidence and improve my chances of being approved. I also remember having a big argument with them to NOT have it included at one point when taking out a later loan. The paperwork I still have for the final loan backs that up as there is no PPI on that. Unfortunately I appear to have thrown out the older paperwork, only keeping the newest. I can't remember if it was three or four loans I had all together and sadly I have no idea if I had PPI on the intermediate ones.



All of the time I had the AA loans I was shareholder and director of a profitable company, full sick benefits, and had the company ceased trading I would have had a return from the sale of assets etc that would have more than covered the loan amount.


Hope that helps clarify things. Would really appreciate any advice and guidance.

[Deleted User]

Ferferksake wrote: »

Would really appreciate any advice and guidance.

If you actually had the insurance, you have less than one month to establish this and make your complaint. So go to it, no one here can tell you if you did or did not have PPI.