PPI Mortgage 6&3 rule

7000miles

It was through a financial advisor. I had copies of all forms, quotes etc and never saw any reference to ppi (only in statement).

Bermonia

So a broker sale, in that case it was pre-regulation and therefore still no complaint to consider...

SonOf

7000miles wrote: »

It was through a financial advisor. I had copies of all forms, quotes etc and never saw any reference to ppi (only in statement).

When you say financial adviser, do you mean a Nationwide employee or a third party adviser (such as estate agent, IFA, mortgage broker)

If it was a Nationwide employee, where they are financial adviser or was that just you assuming they were? (many do assume)

When you say statement, do you mean current account statement or mortgage statement?

Advisers do not use the in-house insurance products from lenders. So, there is this inconsistency with information so far which, if corrected, could lead to different answers.

7000miles

It was a through a third party (IFA) - recommended from estate agent if remember correctly. They visited us recommended the Nationwide mortgage and so we completed their application forms (we never went directly to Nationwide ourselves).

Statement - I mean the mortgage statement each year. This is the only reference I ever have of PPI.

SonOf

7000miles wrote: »

It was a through a third party (IFA) - recommended from estate agent if remember correctly. They visited us recommended the Nationwide mortgage and so we completed their application forms (we never went directly to Nationwide ourselves).

Statement - I mean the mortgage statement each year. This is the only reference I ever have of PPI.

In which case, you give up.

Nationwide have no liability for the sales of insurance products made through a different distribution channel. Its a bit like complaining to Tesco about something you bought at ASDA.

You give up because
1 - its now too late to raise the complaint to the IFA (who is the party liable for any complaint)
2 - the IFA would not have been regulated at the time. IFAs became regulated on insurance in January 2005.

However, it is still rather strange as IFAs do not have access to Nationwide's insurance products. The IFA would not have earned anything from it and it would not have been processed under their agency. Did Nationwide sell it after the event or did they contact you during the process (they shouldn't do when IFAs/brokers are involved but its not unheard of)