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  • FIRST POST
    • Tyberious
    • By Tyberious 28th Feb 18, 4:27 PM
    • 3Posts
    • 0Thanks
    Tyberious
    PPI claim troubles advice ??
    • #1
    • 28th Feb 18, 4:27 PM
    PPI claim troubles advice ?? 28th Feb 18 at 4:27 PM
    I started a PPI claim with the help of the resolver and received a letter from Legal & General (policy holder) that the adviser i spoke to was from Mortgage Advice Bureau and i needed to sned my complaint to them, I have tried to make a new claim but the resolver doesn't list the company although i have sent a request for them to be added, I wanted to contact them directly by email (i don't like using phones due to anxiety issue) but unsure how to go about this as the previous email was sent by resolver ? Guessing i could Copy and paste the information from the previous case and simply change the company name but where do i send the email to ??
    Has anyone else had to deal with this company that can give advice or just general advice??
Page 1
    • dunstonh
    • By dunstonh 28th Feb 18, 4:51 PM
    • 92,572 Posts
    • 59,876 Thanks
    dunstonh
    • #2
    • 28th Feb 18, 4:51 PM
    • #2
    • 28th Feb 18, 4:51 PM
    Why do you want to complain to them about PPI?

    Mortgage brokers/advisers account for under 1% of PPI complaints and the majority of those are rejected. PPI is not generally seen as an adviser issue. Partly as most mortgage brokers only became regulated after 14th Jan 2005 (so you cant complain about pre-2005 sales of PPI) and partly as MPPI is a good form of PPI and most MPPI complaints fail and partly as advised sales and product are a higher standard of non-advised sales.

    Finally, unlike the banks, the adviser in question will have this recorded against them even if there is no case to answer. So, adviser/broker firms tend to take it more personally and with the improved process and product, tend to defend it more vigorously. You should not underestimate the consequence to the broker too. I had a mortgage broker pop round some time back in tears because someone stuck in a try-it-on PPI complaint against them.

    If you have a genuine missale reason and its post 2005 then fair enough. However, if you are trying-it-on then think fo the consequences and remember you are not dealing with a faceless bank. You are playing with an individual's livelihood and stress levels.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Tyberious
    • By Tyberious 6th Mar 18, 4:51 PM
    • 3 Posts
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    Tyberious
    • #3
    • 6th Mar 18, 4:51 PM
    • #3
    • 6th Mar 18, 4:51 PM
    The policy in question was most deferentially miss-sold, Was lead to believe that the policy was needed in order to get the mortgage accepted due various reasons. It was also implied that MPPI had become a standard practice for mortgage applications as it also helped get a better rate in most cases. Its also worth mentioning that I was not alone at the meeting so this isn't a crossed wires issue. The policy was most deferentially taken out after Jan 2005.

    Any help on the contact issues ??
    • dunstonh
    • By dunstonh 6th Mar 18, 5:52 PM
    • 92,572 Posts
    • 59,876 Thanks
    dunstonh
    • #4
    • 6th Mar 18, 5:52 PM
    • #4
    • 6th Mar 18, 5:52 PM
    Was lead to believe that the policy was needed in order to get the mortgage accepted due various reasons.
    Possible but a weak complaint reason. Usually no evidence exists to back that up. Plus, many brokers require the purchase of insurance to allow them to give free mortgage advice. That model is allowed as long as the insurance is suitable. So, that may be the reason why.

    It was also implied that MPPI had become a standard practice for mortgage applications as it also helped get a better rate in most cases.
    There have been deals where the interest rate was lower if you bought the insurance policy with them. Although that is more typically through the banks themselves.

    Any help on the contact issues ??
    You complain to the broker that sold it. You will need something stronger than unprovable allegations. They are easy to reject due to lack of evidence.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Wimaway
    • By Wimaway 6th Mar 18, 6:45 PM
    • 2 Posts
    • 0 Thanks
    Wimaway
    • #5
    • 6th Mar 18, 6:45 PM
    • #5
    • 6th Mar 18, 6:45 PM
    Could anyone help me please
    What is the difference between, PPI and mortgage endowment mis selling?
    I have recently, made a claim for mis selling, of a mortgage endowment, via Santander, who passed my details to Aviva.
    the original endowment was sold by friends provident, through Abbey National building society, in the 1990s.

    I made a complaint about the sale of the policy in 2003, with a payment made to me in 2004, for the difference between the current surrender value, as at November 2003, with what I would have repaid had I had a repayment mortgage from the outset, called a Capital Comparison.

    I was offered and accepted a payment of 5,589.29 and signed a form to say I could not make another claim.

    In light of the current mis selling, claims, is it worth pursuing this case again, as there is no mention of
    Commission, if any, was paid to Friends Provident, or Abbey National, from 1992- 2003.

    Any help would be greatly appreciated.

    Kind regards
    • Partridge89
    • By Partridge89 6th Mar 18, 7:33 PM
    • 46 Posts
    • 46 Thanks
    Partridge89
    • #6
    • 6th Mar 18, 7:33 PM
    • #6
    • 6th Mar 18, 7:33 PM
    Would be best to start your own thread, poor netiquette to post an unrelated question in someone else!!!8217;s.
    • Wimaway
    • By Wimaway 6th Mar 18, 10:09 PM
    • 2 Posts
    • 0 Thanks
    Wimaway
    • #7
    • 6th Mar 18, 10:09 PM
    • #7
    • 6th Mar 18, 10:09 PM
    Sorry, dunstonh,, if I seem to have asked a !!!8220; silly question!!!8221; , regarding difference between ppi and endowment mis selling, but sad to have received such an insensitive, and unhelpful, reply.

    If I knew the difference I wouldn!!!8217;t have asked for help and to receive a reply such as the difference between a banana and steak pie, is unhelpful, insensitive and rude.

    This is the first time I have used the mse forum, and will be the last if this is the kind of sarcastic response, I can expect.

    I see you are a volunteer Board Guide, should this not be someone, who is happy to help and guide
    Other forum users?
    • Moneyineptitude
    • By Moneyineptitude 6th Mar 18, 11:28 PM
    • 20,133 Posts
    • 11,083 Thanks
    Moneyineptitude
    • #8
    • 6th Mar 18, 11:28 PM
    • #8
    • 6th Mar 18, 11:28 PM
    I see you are a volunteer Board Guide
    Originally posted by Wimaway
    No poster to this thread is a board guide??
    • Souly
    • By Souly 7th Mar 18, 12:31 PM
    • 2 Posts
    • 0 Thanks
    Souly
    • #9
    • 7th Mar 18, 12:31 PM
    • #9
    • 7th Mar 18, 12:31 PM
    Can anyone please tell me how I go about applying for PPI if I am doing a debit managment plan
    • Partridge89
    • By Partridge89 7th Mar 18, 1:35 PM
    • 46 Posts
    • 46 Thanks
    Partridge89
    Best to start your own thread.
    • Tyberious
    • By Tyberious 2nd Apr 18, 3:21 PM
    • 3 Posts
    • 0 Thanks
    Tyberious
    Possible but a weak complaint reason. Usually no evidence exists to back that up. Plus, many brokers require the purchase of insurance to allow them to give free mortgage advice. That model is allowed as long as the insurance is suitable. So, that may be the reason why.
    Originally posted by dunstonh
    At the time I was on a permeate contract with local council that gave both redundancy, sick cover etc so this was not needed on the mortgage policy. Wouldn't this in its self make the insurance unsuitable ??
    • societys child
    • By societys child 2nd Apr 18, 4:05 PM
    • 5,197 Posts
    • 5,734 Thanks
    societys child
    No, redundancy and sick pay does not make the policy missold.

    • dunstonh
    • By dunstonh 2nd Apr 18, 4:43 PM
    • 92,572 Posts
    • 59,876 Thanks
    dunstonh
    At the time I was on a permeate contract with local council that gave both redundancy, sick cover etc so this was not needed on the mortgage policy. Wouldn't this in its self make the insurance unsuitable ??
    Originally posted by Tyberious
    No. Local Govt only gives 12 months sick pay. FOS have been rejecting MPPI complaints on that basis. Its not a bad reason with short term debts but with long term debts it is not good enough.

    Redundancy doesnt overlap with MPPI. i.e. it pays out in addition to this (some types of PPI dont). So, again not an issue.

    The reason has more to do with the type of debt it is covering. Short term unsecured debts would see those as good reasons. Long term secured debt against your primary residence on the other hand is not a problem. Typically, only if the MPPI is taken out for a small amount relative to the payments, is there is an issue.

    For example, here are a few FOS decision:
    http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=169933
    http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=117427
    http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=122179
    Last edited by dunstonh; 02-04-2018 at 5:03 PM.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. 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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