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  • FIRST POST
    • durali
    • By durali 7th Apr 18, 5:05 PM
    • 20Posts
    • 1Thanks
    durali
    PPI Nationwide
    • #1
    • 7th Apr 18, 5:05 PM
    PPI Nationwide 7th Apr 18 at 5:05 PM
    I had Mortgage protection with Nationwide so I applied to reclaim. As it's a while ago I was vague as to why I thought I'd been mis-sold.
    Now I have a final "no" decision.
    I since have found the Mortgage & Insurance Payments Arrangements showing the Payment Protection was free for one year.
    The mortgage was paid off one year after it was taken out but the insurance was cancelled by myself in 2011. Probably after I heard it was no longer necessary and had been mis-sold.
    I'd like to know what to do now.
    I'm confused as I've read the MSE guide but still unsure if I should go back to Nationwide, The Ombudsman or Plevin?
    Thank you
Page 1
    • Nasqueron
    • By Nasqueron 7th Apr 18, 6:38 PM
    • 5,291 Posts
    • 3,205 Thanks
    Nasqueron
    • #2
    • 7th Apr 18, 6:38 PM
    • #2
    • 7th Apr 18, 6:38 PM
    You're mixing up a few things here - if they issue a final rejection you can refer to the ombudsman but it depends why they rejected it, if they time barred it (as you cancelled it in 2011, they can do so as it meets the 3 and 6 year rules) then your complaint is over. Going back to them is pointless especially if, as you say, your complaint reasons were vague and unsupported.

    Plevin is completely separate and only applies if your complaint has finished the process and you could then ask them to see if it comes under there but is not a guarantee of anything and the refund is likely to be smaller
    • Moneyineptitude
    • By Moneyineptitude 7th Apr 18, 9:46 PM
    • 20,792 Posts
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    Moneyineptitude
    • #3
    • 7th Apr 18, 9:46 PM
    • #3
    • 7th Apr 18, 9:46 PM
    Plevin is completely separate and only applies if your complaint has finished the process and you could then ask them to see if it comes under there but is not a guarantee of anything and the refund is likely to be smaller
    Originally posted by Nasqueron
    Since a Plevin refund is only of the commission paid, it would definitely be smaller.

    Doesn't sound as if Plevin applies here anyway, since it was the Op's own responsibility to cancel the insurance once the mortgage was paid off.
    • dunstonh
    • By dunstonh 7th Apr 18, 10:16 PM
    • 93,992 Posts
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    dunstonh
    • #4
    • 7th Apr 18, 10:16 PM
    • #4
    • 7th Apr 18, 10:16 PM
    Whilst it would normally be up to the account holder to cancel the direct debit, it is not always the case.

    There have been upheld cases where the policy in question only covered the mortgage of that lender and the FOS decided the lender didnt make it clear that the insurance should be cancelled.

    However, if the insurance would have continued to be acceptable irrespective of lender, then the lender is not allowed to cancel the insurance. That is down to the borrower.

    I dont know what the position with Nationwide's insurance was but if it only covered their mortgages, then i would expect a refund from the point the mortgage closed.
    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.
    • durali
    • By durali 14th Apr 18, 12:16 PM
    • 20 Posts
    • 1 Thanks
    durali
    • #5
    • 14th Apr 18, 12:16 PM
    PPi
    • #5
    • 14th Apr 18, 12:16 PM
    thank you for your replies.
    I am formulating letters to Midland Bank for a personal loan ppi and Norwich union/Aviva for Mortgage Protection.
    Do I mention commission in my first letter?
    Thank you
    • dunstonh
    • By dunstonh 14th Apr 18, 1:12 PM
    • 93,992 Posts
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    dunstonh
    • #6
    • 14th Apr 18, 1:12 PM
    • #6
    • 14th Apr 18, 1:12 PM
    I am formulating letters to Midland Bank for a personal loan ppi
    That would be HSBC.

    nd Norwich union/Aviva for Mortgage Protection.
    Why Aviva? Did an Aviva staff member sell you the mortgage protection? If not you wouldnt send it to them.

    What is this Mortgage protection policy? Aviva was a very very small player in the mortgage PPI side of things. However, they are a very large player in the mortgage life assurance side. Is your policy PPI or life assurance?

    Do I mention commission in my first letter?
    no
    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.
    • durali
    • By durali 14th Apr 18, 1:47 PM
    • 20 Posts
    • 1 Thanks
    durali
    • #7
    • 14th Apr 18, 1:47 PM
    • #7
    • 14th Apr 18, 1:47 PM
    Thank you dunstonh
    The reason I say Aviva as that is on the letter head showing the policy dates ie Norwich Union/Aviva.
    I think one took the other over.
    • dunstonh
    • By dunstonh 14th Apr 18, 2:53 PM
    • 93,992 Posts
    • 61,802 Thanks
    dunstonh
    • #8
    • 14th Apr 18, 2:53 PM
    • #8
    • 14th Apr 18, 2:53 PM
    The reason I say Aviva as that is on the letter head showing the policy dates ie Norwich Union/Aviva.
    it isnt the provider that you complain to though. It is the seller. Most Aviva policies are put in place via third parties. Not Aviva themselves.

    Also, as I said, are you sure this is PPI? Does it give any indication of what it pays out on and how much?
    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.
    • durali
    • By durali 14th Apr 18, 3:27 PM
    • 20 Posts
    • 1 Thanks
    durali
    • #9
    • 14th Apr 18, 3:27 PM
    • #9
    • 14th Apr 18, 3:27 PM
    Hi again,
    the letter I have states it was a Mortgage Security policy from 22 December 1981 and lapsed on 22 September 2005.
    The mortgage was with Northern Rock.
    • dunstonh
    • By dunstonh 14th Apr 18, 3:31 PM
    • 93,992 Posts
    • 61,802 Thanks
    dunstonh
    the letter I have states it was a Mortgage Security policy from 22 December 1981 and lapsed on 22 September 2005
    That would suggest it was life assurance. Not PPI.

    In the 80s until around 1993 (ish), you had to take out life assurance with a number of lenders to act as security on the mortgage. I remember those days well as we had to write a big red S on them to indicate they were security.
    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.
    • durali
    • By durali 14th Apr 18, 3:52 PM
    • 20 Posts
    • 1 Thanks
    durali
    So can I claim against that?
    • zx81
    • By zx81 14th Apr 18, 4:07 PM
    • 18,152 Posts
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    zx81
    Only if you're dead.
    • Nearlyold
    • By Nearlyold 14th Apr 18, 4:16 PM
    • 1,122 Posts
    • 951 Thanks
    Nearlyold
    Only if you're dead.
    Originally posted by zx81
    Too late for that, the policy lapsed in 2005!

    Seriously though if the OP wanted to "complain" how on earth would they remember events from 37 years ago.
    Last edited by Nearlyold; 14-04-2018 at 4:19 PM.
    • zx81
    • By zx81 14th Apr 18, 4:18 PM
    • 18,152 Posts
    • 19,357 Thanks
    zx81
    In that case, only if the OP died before 2005.
    • dunstonh
    • By dunstonh 14th Apr 18, 4:29 PM
    • 93,992 Posts
    • 61,802 Thanks
    dunstonh
    So can I claim against that?
    Originally posted by durali

    1 - its not PPI
    2 - it is likely to have been put in place by an insurance broker as it pre-dates financial services regulation (cant complain if it is)
    3 - complaints about life assurance are unusual. Unless you are immortal there is not really much you can complain about
    4 - plans required as security for a mortgage mean you didnt get a choice. You had to have it as a condition of borrowing. So, it cant have been missold (even if you ARE immortal!)

    Just because you have an insurance policy, does not make it PPI. Life assurance is no more PPI than your car insurance or house insurance.

    So, basically, putting in a PPI complaint against a product that is not PPI is rather futile. It would be like complaining to Tesco that the loaf of bread doesnt taste like baked beans.
    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.
    • durali
    • By durali 14th Apr 18, 4:50 PM
    • 20 Posts
    • 1 Thanks
    durali
    Thank you dunstonh.
    I'm clearly ppi'd to the full and drowning under a sea of paperwork.
    Yes it makes sense now so thank you for taking the time to explain it to me.
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