Halifax TMPP

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MackemMick
MackemMick Posts: 14 Forumite
in Reclaim PPI & other insurance
In a nutshell. Interest only Mortgage with cover taken out 1997. Changed to a repayment mortgage 2003 with a TMPP. Cover included life , sickness , critical illness and redundancy for myself and wife. The PPI element of the cover included in plan.
Referred to FOS under Plevin and Halifax have agreed to my complaint. Being compensated from 1997 to present date. No idea of award as am awaiting Halifax offer. My complaint was not told of commission made which was agreed by both parties it was highly excessive. Just had call off Halifax to say they were moving with it and hear back soon as.

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  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    edited 21 February 2019 at 5:01PM
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    MackemMick wrote: »
    My complaint was not told of commission made which was agreed by both parties it was highly excessive.
    Plevin complaints don't normally have to go to the Ombudsman. The finance is either covered under Plevin or it isn't. Why did the Bank originally reject your complaint?
    By the way, you are getting a refund of undisclosed commission, not "excessive".
  • MackemMick
    MackemMick Posts: 14 Forumite
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    Complaint over PPI because of unfair cost to FOS placed in 2015 after rejection by Halifax. Reviewed and kept on file by FOS till now because of Plevin case.
  • MackemMick
    MackemMick Posts: 14 Forumite
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    Also .. the letter from FOS stated " excessive " not undisclosed.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    MackemMick wrote: »
    Also .. the letter from FOS stated " excessive " not undisclosed.
    The tipping point for Plevin is 50%, but if it was disclosed at the time then Plevin would not apply.

    Regardless, well done on your success
  • MackemMick
    MackemMick Posts: 14 Forumite
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    Just to add they were adamant they were not at fault but would refund as if they were on both issues. :)
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    edited 21 February 2019 at 9:41PM
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    MackemMick wrote: »
    Just to add they were adamant they were not at fault but would refund as if they were on both issues. :)

    As stated, there is nothing wrong with "excessive" commission unless it was undisclosed. That's the whole point of the Plevin Ruling.

    Your complaint about excessive commission had no validity. You won't even have known how much commission was paid, so how would you know to complain that it was "excessive"?

    Basically, you got lucky with Plevin..
  • Bermonia
    Bermonia Posts: 977 Forumite
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    It sounds merely like you’re getting a Plevin refund... that’s not really a win as firms are legally obliged to refund those who are affected.
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