ASU miss sold in 2003

AndreaElizabeth

My mum and dad took out ASU cover in December 2003 which was underwritten by NIG and arranged by Carrington Carr. The 7k premium was added to the balance of the mortgage. In 2014 a solicitor wrote to my parents to tell them this may have been mis sold and put them in touch with Mac Fin Consulting. My parents signed a contract with them however they wrote back in 2016 to say that they were unable to conduct the review due to a lack of documentation from Legal & General (apparently they do not hold any data relating to this sale).
My parents however have the ASU schedule of insurance document but do not have anything in relation to the advice given e.g. a demands and needs document.
I have recently spoken to Mac Fin Consulting who said they have not raised a complaint just a subject access request which was unsuccessful, and have not taken the matter further. They also confirmed verbally that the contract has ended with them.
Is it worth complaining to L&G directly (as a complaint was never logged with them and therefore a final response letter not issued)?
Mac Fin also said that as the sale was prior to 2005, there was no regulatory requirement for L&G to keep any records.
Basically is this something they should try to pursue? As how could it have been in their interest/ advisable to add 7k to their mortgage balance for something they would probably have never been able to claim for (my father was self employed at the time). Any advise on what to do would be appreciated.

-taff

Carrington carr were a home loans firm who were not regulated in 2003. Your complaint is over.

SonOf

In 2014 a solicitor wrote to my parents to tell them this may have been mis sold and put them in touch with Mac Fin Consulting.

Are you sure it was a solicitor and not a CMC? If it was a solicitor then they should know better.

My parents however have the ASU schedule of insurance document but do not have anything in relation to the advice given e.g. a demands and needs document.

They wouldnt have a statement of demands and needs as that only started with insruance regulation in January 2005. They bought in 2003.

Is it worth complaining to L&G directly (as a complaint was never logged with them and therefore a final response letter not issued)?

No. They have no liability.

Mac Fin also said that as the sale was prior to 2005, there was no regulatory requirement for L&G to keep any records.

Correct.
They probably also said as it was a pre-regulation sale, they wouldnt consider the complaint either and there is no access to the FOS.

Any advise on what to do would be appreciated.

You give up. As the solicitor should have told them in the first place.

Its nearly 2 years prior to regulation of mortgage brokers of insurance. So, no FCA rules to break and not members of the ABI (like the banks), so they dont have to consider pre-regulation complaints.

If it makes them feel any better, the majority of standalone regular premium PPI complaints fail. That is the good type of PPI and you can stil buy it today. If all PPI was set up that way, there wouldnt be this issue.