Mortgage PPI from 2004

[Stressedoutmum]

Re: Mortgage PPI from 2004

Thanks Niddy, that’s brilliant! I’ll get those sent off asap.

Once again thanks to you all, I love this forum, god knows I’d never have gotten this far without you all as I’d have probably given up at the first hurdle!

[Never-In-Doubt]

Re: More urgent SAR advice please

Thanks I'll do that. I might pm her incase she's not on for a while.

She's not been very well - if you're stuck let me know and I will help you out if I can

[Stressedoutmum]

Re: More urgent SAR advice please

You've already been a great help Niddy! Thanks!

[Never-In-Doubt]

Re: Mortgage PPI from 2004

Is it this firm?

--> https://www.assurantsolutions.com/in...2c-dfs-t3.html

[Stressedoutmum]

Re: Mortgage PPI from 2004

Is it this firm?

--> https://www.assurantsolutions.com/in...2c-dfs-t3.html

Yes that's them!

[Never-In-Doubt]

Re: Mortgage PPI from 2004

Anyway, the mortgage was arranged by a broker (Capital Mortgage Connections) however they ceased trading, so I tried my luck with the FSCS however as the broker were not regulated at the time as it was pre 2005 they could not help.

I just want to make sure that I really have come to the end of the line with this, is there anything else I could try??? The policy was called D & D Homecare Ltd Mortgage Payment Protection Scheme and was administered by Adminacle Ltd.

Thanks in advance!

Just read this, prior to past replies - this was pre-regulation wasn't it? Hence you really have no recourse to either complain or to go to the FOS - is this why it was rejected originally?

Single premium MPPI has always been frowned upon as it should have been a monthly premium MPPI (monthly DD - not front-loaded). Similarly, if you paid any 'Lifetime' fee then you can claim this back and the FOS should not refuse your complaint, if you did have a 'Lifetime' Fee attached.

I would still go ahead and try complaining as you are - never say never and all that but bear in mind you are pre-regulation so i'm not sure that they *can* find for you unless there are other technicalities that might make the whole sale (inc mortgage) unlawful......

The FOS do make good decisions at times - see this from pre-regulation - it gives hope to fight on

--> http://financial-ombudsman.org.uk/pu...decision-C.pdf

[Never-In-Doubt]

Re: Mortgage PPI from 2004

The FOS do make good decisions at times - see this from pre-regulation - it gives hope to fight on

--> http://financial-ombudsman.org.uk/pu...decision-C.pdf

This sale was made before the introduction of FSA regulation of insurance mediation, but
during the period of self-regulation under the General Insurance Standards Council (GISC).
The firm was a member of GISC at the relevant time. But in any event, I consider the
provisions of the GISC code to provide a helpful guide to good industry practice at the time.
Whilst the general principles that I need to consider in assessing cases such as this are in
large part similar, both before and after regulation by the FSA and the GISC, it is important
to note the relevant regulatory regime that applied at the time.

I want people to read this

[Stressedoutmum]

Re: Mortgage PPI from 2004

Just read this, prior to past replies - this was pre-regulation wasn't it? Hence you really have no recourse to either complain or to go to the FOS - is this why it was rejected originally?

Single premium MPPI has always been frowned upon as it should have been a monthly premium MPPI (monthly DD - not front-loaded). Similarly, if you paid any 'Lifetime' fee then you can claim this back and the FOS should not refuse your complaint, if you did have a 'Lifetime' Fee attached.

I would still go ahead and try complaining as you are - never say never and all that but bear in mind you are pre-regulation so i'm not sure that they *can* find for you unless there are other technicalities that might make the whole sale (inc mortgage) unlawful......

The FOS do make good decisions at times - see this from pre-regulation - it gives hope to fight on

--> http://financial-ombudsman.org.uk/pu...decision-C.pdf

Yes the FOS have acknowledged that this is pre-regulation. The company who sold the policy no longer trades so the focus of the FOS is trying to find out if they can hold Assurant responsible for the sale and this is where the whole ‘agent’thing seems to be key. Assurant saying they are not an agent seems to be a technical way to get out of this. My point is I believe CMC were acting for Assurant, despite what they say, as we set out to arrange a Mortgage, and ended up with the mortgage AND this policy. We were not told about a range of policies either, just this one that was pushed by the broker.I am prepared that this might not have the outcome I am hoping for, but for a policy that was over £4K I am willing to take it as far as I possibly can.

[Never-In-Doubt]

Re: Mortgage PPI from 2004

Yes the FOS have acknowledged that this is pre-regulation. The company who sold the policy no longer trades so the focus of the FOS is trying to find out if they can hold Assurant responsible for the sale and this is where the whole ‘agent’thing seems to be key. Assurant saying they are not an agent seems to be a technical way to get out of this. My point is I believe CMC were acting for Assurant, despite what they say, as we set out to arrange a Mortgage, and ended up with the mortgage AND this policy. We were not told about a range of policies either, just this one that was pushed by the broker.I am prepared that this might not have the outcome I am hoping for, but for a policy that was over £4K I am willing to take it as far as I possibly can.

Ok, so who was the insurer - have you considered going down that route ie the actual firm that would need to pay out upon claim? Who was that?

Won't the missing info be on your mortgage paperwork?





*** I keep editing your posts to fix the font settings - try not to change font all the time as it is very hard to read.

[Stressedoutmum]

Re: Mortgage PPI from 2004

I want people to read this

This is great!!

[PlanB]

Re: Mortgage PPI from 2004

The bit I read at the beginning of your thread which annoyed me was the fact your insurance cover ceased in 2009 (it was only a five year policy) yet you are still presumably paying interest on the premium since it forms part of the overall loan which was to run for a further 12 years.

I would like to see the FOS negotiate for that interest on the insurance premium element to be stopped as a compromise (in the very least).

I can dream

Plan B x

[Never-In-Doubt]

Re: Mortgage PPI from 2004

The bit I read at the beginning of your thread which annoyed me was the fact your insurance cover ceased in 2009 yet you are still presumably paying interest on the premium since it forms part of the overall loan which was to run for a further 12 years.

I would like to see the FOS negotiate for that interest on the insurance premium element to be stopped as a compromise (in the very least).

I can dream

Plan B x

At the very least, plus refund of premium and any front loaded fee's....

I don't think the FOS really have any right to reject this, however I would need all letters to date to determine that and sadly, I have no time to do that right now.

Lets see what happens once OP sends of the chasers

[Never-In-Doubt]

Re: Mortgage PPI from 2004

This is great!!

Never give up.... I found that in 5 minutes Googling. There will be loads of cases to use to boost your complaint and get the FOS to take notice.....

However all this said, there must be someone to claim from - if there isn't then really what can you do?

[Stressedoutmum]

Re: Mortgage PPI from 2004

Sorry about the font stuff Niddy. My laptop seems to have taken a dislike to the site and I am having terrible problems typing on it! On my phone now but takes me longer to type! Lol

The insurance was D & D Homecare, but claims went through Adminacle and I believe both are part of the Assurant group!

Yes PlanB I am still paying interest on that premium. We are also most likely going to have to extend our mortgage due to our financial situation so will be paying even longer! We also remortgaged in between times so no longer have any of the original paperwork (apart from the policy document) which is a bummer! I also just noticed recently on my document that I'd have been screwed if I'd tried to cancel the policy at any point after the first 30 days. There was no pro rata refund at all. The whole thing makes my blood boil actually! And I'm annoyed at myself for not realising at the time :-(

[Never-In-Doubt]

Re: Mortgage PPI from 2004

Are you using internet explorer by any chance? Are you using windows, XP, 7 or 8?

That might be why you're having IT issues. I'll post back later once you reply.