Nationwide Plevin complaint

ruralmum

Hi, I have had a mortgage with Nationwide since year 2000. We have had mortgage payment protection this whole time. I have made a complaint about non-disclosure of commission. Nationwide gave today sent a letter stating that the mortgage policy is "outside the scope of the FCA's rules and guidance for non-disclosure of PPI, there we can not agree that compensation is due" They don't say why this is the case and have said that we have the right to take the complaint to the financial ombudsman.

I haven't complained about the Mia-selling if PPI, it is a Plevin only complaint.
Does anyone know what they mean that the policy is outside the scope of the FCA's rules and guidance?

Thanks

brettcta

It means it’s outside the scope of the FCA’s rules & guidance, which means it’s game over, thanks for playing.

It’s a set policy and if it’s not eligible, it’s not eligible. Going to the FOS won’t change that and won’t get you any further than you already are

SonOf

Plevin only applies to credit regulated under the consumer credit act. Many mortgages did not fall under the consumer credit act. They fell under MCOB.

Also, Plevin only applies if the insurance was sold at the same time as the debt. Nationwide often did theirs post-sale or had a 12 month free period and you only effectively bought it 12 months later.

Finally, most MPPI falls under the tipping point of 50%. Some banks only just got over the 50% as they used profitshare. If profitshare was not used, then it would be under 50%.

So, you can pretty much pick any of those.

They don't say why this is the case and have said that we have the right to take the complaint to the financial ombudsman.

They have to say you can go to the FOS. However, plevin is not a grey issue. The rules are black and white.