Bradford & Bingley - Turned down PPI claim

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Jackiebiggin
Jackiebiggin Posts: 2 Newbie
in Reclaim PPI & other insurance
My parents have had a mortgage with PPI with Bradford & Bingley for 25 years, we have tried a few times to claim back PPI from them but they continually say they have nothing to claim.
Any info or advice would be gratefully appreciated. They also had shares which were just wiped off and lost which I find incredible.:mad:
Thank you:
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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    If you have no evidence of a policy or of mis selling, you're out of options.
  • Nearlyold
    Nearlyold Posts: 2,289 Forumite
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    edited 10 October 2018 at 7:28PM
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    Jackiebiggin wrote: »
    My parents have had a mortgage with PPI with Bradford & Bingley for 25 years, we have tried a few times to claim back PPI from them but they continually say they have nothing to claim.

    Can you clarify what you mean by B & B saying they have nothing to claim, does that mean:-
    B & B are saying they don't have PPI
    or
    B & B are saying they do have PPI but it wasn't miss sold.
    Also
    If your parents don't/didn't want PPI, why haven't they cancelled it during the 25 years they had it.

    In any event you can only "Complain" once about the same PPI, if you are then not satisfied with the complaint outcome you have 6 months (this time limit can only be extended in exceptional circumstances) from receipt of the final outcome to refer it to FOS. After that your Complaint is permanently closed and there is no point in trying again as you will just be referred back to the original decision.

    This explains what happened to the shares :- https://www.thisismoney.co.uk/money/investing/article-1697946/Your-Bradford-Bingley-shares-are-worthless.html
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    My parents have had a mortgage with PPI with Bradford & Bingley for 25 years, we have tried a few times to claim back PPI from them but they continually say they have nothing to claim.

    Bradford and Bingley no longer exist. So, who is saying this?
    What are they actually saying (as they wouldn't say there is nothing to claim)?


    They also had shares which were just wiped off and lost which I find incredible.

    Quite normal and correct.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • antrobus
    antrobus Posts: 17,386 Forumite
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    dunstonh wrote: »
    ....

    Quite normal and correct.

    I don't know about 'normal', banks aren't supposed to go bust, but the B&B did in 2008 and was nationalised. It was decided that the shareholders were due £0 in compensation.
  • antrobus
    antrobus Posts: 17,386 Forumite
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    Jackiebiggin wrote: »
    My parents have had a mortgage with PPI with Bradford & Bingley for 25 years, we have tried a few times to claim back PPI from them but they continually say they have nothing to claim.....

    Mortgage PPI is normally paid by monthly DD. You can see it on your bank statements.

    Did your parents use a broker when they took out the mortgage?
  • Nasqueron
    Nasqueron Posts: 8,827 Forumite
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    antrobus wrote: »
    I don't know about 'normal', banks aren't supposed to go bust, but the B&B did in 2008 and was nationalised. It was decided that the shareholders were due £0 in compensation.


    Banks aren't supposed to no but how many people do you hear about moaning that banks were bailed out after the crash? Shareholders take the dividends and price rises in the boom times, they take the hit in the bad times.


    Customers who were active in 2000 when it went on the market got 250 shares at 247p, at peak they were worth 520p - a savvy person would have sold then or when the price started going down, anyone could have made good money selling at peak - those free shares were worth £1300 at peak


    Regardless, if sold by a broker pre 2005 - 2003 would seem logical based on OP timeline, then not regulated and OP will have been time barred after complaining in the past
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    antrobus wrote: »
    I don't know about 'normal', banks aren't supposed to go bust, but the B&B did in 2008 and was nationalised. It was decided that the shareholders were due £0 in compensation.

    It was more a case that it is normal when a company goes into administration to end up with little or nothing. B&B were not the first and wont be the last. FTSE100 companies dont fail that often but you usually get 1 or 2 a decade. That is why you shouldnt hold single companies shares in isolation.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Jackiebiggin
    Jackiebiggin Posts: 2 Newbie
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    Yes they used a broker.
    Don’t think we could claim now as they have declined it already more than 6 months ago.
    Can’t help feeling they have been robbed, they were sold an extra £1000 of shares about 2 weeks before they went bust.thank you for your advice
  • CKhalvashi
    CKhalvashi Posts: 12,060 Forumite
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    Jackiebiggin wrote: »
    Yes they used a broker.
    Don’t think we could claim now as they have declined it already more than 6 months ago.
    Can’t help feeling they have been robbed, they were sold an extra £1000 of shares about 2 weeks before they went bust.thank you for your advice

    The business was worth nothing. It would have been a bad use of taxpayer money to reimburse shareholders for the purchase of the business.

    No one was robbed here, it was simply a case of bad luck.
    💙💛 💔
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    Yes they used a broker.

    That means they didnt buy PPI via B&B.
    Don’t think we could claim now as they have declined it already more than 6 months ago.

    The fact they didnt have PPI through B&B would be a good enough reason too.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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