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I have since been approached by Mortgage.Claims who have said they would take this on
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Of course they do. You are an easy mark to make money out of.
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and their solicitors felt I would be able to make a claim and that they wouldnt do this unless they thought the claim would be around £30,000.
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Spot the advance fee fraud greed inducer.
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Their charges are 35% plus 20% vat, plus £2000+ for insurance and that they would like a solicitor to call and see me?
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and there is the smaller upfront cost you see in advance fee fraud.
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My question is should I pursue this or should I be worried if the amount received didnt cover the cost of the insurance, and would I end up owing them this money?
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Don't expect it to succeed. You will end up £2000 out of pocket.
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Is it worth progressing with this as the FSCS have already been involved and have made their decision.
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You don't get multiple bites of the cherry. You were already rejected. You dont say why you were rejected but the FSCS only uphold around 5% of complaints against mortgage brokers. Mainly as mortgage regulation only started in 2004 and its hard to missell a mortgage. And insurance regulation started in 2005 and most insurance sold by mortgage brokers, including MPPI, is not considered missold.
This company don't have anyone to complain to. The firm no longer exists and the FSCS have already ruled and its case closed. They do have £2000 they can make out of you though.
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.