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  • FIRST POST
    • grassisntgreener
    • By grassisntgreener 13th Jul 18, 11:48 AM
    • 2Posts
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    grassisntgreener
    PPI Halifax more paperwork or outside company?
    • #1
    • 13th Jul 18, 11:48 AM
    PPI Halifax more paperwork or outside company? 13th Jul 18 at 11:48 AM
    Hello
    We were mis-sold insurance in 1995.
    Halifax account.
    We had an endowment mortgage.
    We were both employed.
    Employer 1 had an arrangement where there was very good financial aid in the event of any illness.
    If I had fallen ill then partner would have been able to pay the mortgage on his own.
    So we really didn't need insurance.
    Approached Halifax with claim. They have rejected the claim. They say the lack of documentation from employer 1 (pertaining to illness cover) may have had a baring on their decision.
    A friend had success claiming through a claims company.
    She was told to 'ignore any requests for information' as it was an attempt to lessen the amount paid out.
    Unsure how to proceed? Stick with claim and try to gain info from employer 1 or go to claim company, as even paying someone a cut would be better than recieving nothing!
    Many thanks for any advice!
Page 1
    • zx81
    • By zx81 13th Jul 18, 11:57 AM
    • 18,620 Posts
    • 19,879 Thanks
    zx81
    • #2
    • 13th Jul 18, 11:57 AM
    • #2
    • 13th Jul 18, 11:57 AM
    Only use an outside company if you want more paperwork to do. Remember they will also charge a cancellation fee when they find out you have already submitted a complaint.

    If you don't want to provide any evidence supporting your complaint and to increase your chance of success, then just tell them.
    • Nasqueron
    • By Nasqueron 13th Jul 18, 12:28 PM
    • 5,467 Posts
    • 3,370 Thanks
    Nasqueron
    • #3
    • 13th Jul 18, 12:28 PM
    • #3
    • 13th Jul 18, 12:28 PM
    Claims companies simply use the same process as you do, there is zero point using them, indeed, they can harm your complaint as your friend's case shows - refusing to supply evidence to support your complaint reasons will mean the lender only judging based on what they have evidence of not on the facts - that's perhaps the worst piece of advice they could have given!

    On your complaint you said you had excellent work benefits at point of sale so didn't need PPI, it is logical for the lender to ask for proof of this, so provide proof and they can look at your documentation
    • dunstonh
    • By dunstonh 13th Jul 18, 12:46 PM
    • 94,533 Posts
    • 62,473 Thanks
    dunstonh
    • #4
    • 13th Jul 18, 12:46 PM
    • #4
    • 13th Jul 18, 12:46 PM
    A friend had success claiming through a claims company.
    The FOS reported that claims companies have a slightly lower success rate than individual complaints. The claims companies send the complaint to the same address you did and its handled by the same staff and process.

    She was told to 'ignore any requests for information' as it was an attempt to lessen the amount paid out.
    If the information is not supplied that can aid the complaint, then a rejection is more likely. A lot of CMCs do not like financial firms communicating directly with the policyholder as it highlights just how little a CMC actually does. You start to wonder why you used a CMC when everything is done between the financial firm and the policyholder and the CMC is not involved.

    Unsure how to proceed? Stick with claim and try to gain info from employer 1 or go to claim company, as even paying someone a cut would be better than recieving nothing!
    Remember that most MPPI complaints do fail. It is important to remember that. Especially when comparing it to loan PPI (where most PPI complaints are upheld).

    Most of the large firms and banks have been building a database of employer benefits. In your case, it either means they have no details on your old employer or the details they hold differ from that details they were supplied by you (or made up by the claims company - yes that does happen).

    There is absolutely nothing to gain from not supplying details which act as evidence to support your complaint. Unless you or the claims company were telling lies in the complaint (which happens)
    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.
    • grassisntgreener
    • By grassisntgreener 13th Jul 18, 1:43 PM
    • 2 Posts
    • 0 Thanks
    grassisntgreener
    • #5
    • 13th Jul 18, 1:43 PM
    • #5
    • 13th Jul 18, 1:43 PM
    Thank you all very much.
    I did not know that an mppi was less likely to succeed.
    We will attempt to get documentation from the employer and proceed from there.
    Thank you all for your help. It is very much appreciated
    • Moneyineptitude
    • By Moneyineptitude 14th Jul 18, 12:27 AM
    • 20,981 Posts
    • 11,755 Thanks
    Moneyineptitude
    • #6
    • 14th Jul 18, 12:27 AM
    • #6
    • 14th Jul 18, 12:27 AM
    I did not know that an mppi was less likely to succeed.
    Originally posted by grassisntgreener
    Unlike loan and credit card PPI, mortgage PPI is still retailed today.
    • Nasqueron
    • By Nasqueron 14th Jul 18, 10:05 AM
    • 5,467 Posts
    • 3,370 Thanks
    Nasqueron
    • #7
    • 14th Jul 18, 10:05 AM
    • #7
    • 14th Jul 18, 10:05 AM
    Thank you all very much.
    I did not know that an mppi was less likely to succeed.
    We will attempt to get documentation from the employer and proceed from there.
    Thank you all for your help. It is very much appreciated
    Originally posted by grassisntgreener

    Even the most generous work benefits, typically NHS with 6 months full pay and 6 months half (or even the very rare 12 months full pay) are routinely rejected by the FOS as sufficient for MPPI given it's protecting a 20+ year debt. You said your partner could have paid the mortgage on their own, how long for? A year, 2 years? What if you had a major long term illness that stopped one of you working for that long, could you survive on one income for the rest of the mortgage? If you have evidence you could then present it
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