MPPI claim refused

DoctorJames

Hi everyone, new to forum, never done a claim before, but my first mortgage back in 1993, long time ago I know. It seems I had mortgage protection insurance. Now this has always been in the back of my mind as I seem to recall having the advisor leaning on us very heavily to take it out despite refusing. It seems we had it for a number of years. I am no financial wizard and find it hard to understand all this, it was my first house, very green and I fear I got taken for a ride here. My question is should I bother taking this further, and if so on what grounds? Please letter with personal details ommitted. Is this letter trying to bat me off so to speak. Thanks in advance...

brettcta

Looks fine to me. Why didn’t you return your FOS questionnaire?

As the letter says, you’re perfectly entitled to take it further or go back to them with additional complaint points and/or further documentation if you have them. If you don’t have anything else to go back with then suck it up and move on with your life, safe in the knowledge that a large number of MPPI complaints fail, usually for weak or non-existent complaint points.

DoctorJames

Happy to suck it up as you say, it's hardly something that keeps me awake. One was merely asking if I had a case. Thank you for your input I already moved on back in 1993😉

dunstonh

On the plus side, most MPPI complaints fail.   And the FOS uphold rate is under 25% last time I looked.

It makes reference to free MPPI for 12 months being possible.  A number of lenders did this. Nationwide for example.   There were also mortgage deals in that period that needed an MPPI purchase to get the deal.  Something that is allowed as long as you were eligible.  Lloyds did those.      The letter confirms you were eligible and you appear to have financially benefitted according to the letter.

What exactly were you complaining about as the letter seems to suggest they have found nothing wrong?

DoctorJames

I did what lots of people did last year when the deadline came in. I filled in the online form as I had no idea what the situation was in reality when I got my first mortgage, I remembered been heavily pushed to buy into products, but as I say I was new to the game and young, easy prey for anyone who wanted to take advantage. If everything was all toward then I've no issue. However if I was screwed over then like anyone else I'd seek recompense.👍

brettcta

That’s fine but you’d have had to have provided complaint points to say why you were complaining, what did you say?

dunstonh

If this was a deadline complaint as suggested, then the firm would have automatically turned an enquiry into a complaint with no reasons given.

brettcta

No I know that but it sounded to me as though he put a complaint on rather than an info request. That’s how I read it anyway.

DoctorJames

Hi. I just filled in the online form. I never gave any substantial portion info, so I don't recall ever been asked for any detail. Months afterwards I got a letter of acknowledgement, then eventually this letter. So I've provided nothing to them other than my details, and in fairness I have no documents anymore as I've bought 3 houses since then. I remember a couple of things with the advisor, them telling me I had to take house insurance with them, which I argued as I already had that in place from the flat I was living in prior to buying, and then lots of talk about falling ill and what could happen, the things I now realise is them after commission. A bit like the sales assistant trying to sell you insurance for a new TV.