PPI Cardif Pinnacle

[johnnymitch]

Hi everyone ,

 

Bit of advice needed here please ...... a friend of mine who is self-employed took out a mortgage some years ago from A&L . He was sold PPI at the time and the policy is with Cardif Pinnacle.

 

Thing is , now that he is suffering because of the recession , they're saying he has to wind up his business before they will pay out . His contention is that this was not explained to him when he was given the policy, had he known he would never have taken the policy on ....

 

He's at the stage where FOS has become involved and they're asking on the complaint form who supplied the policy . Problem is, A&L are saying that ,as his mortgage was arranged through an Independent Financial Adviser,(IFA) they are not the providers ......but A&L are offering him a ludicrous refund of the difference in his premiums , back to an earlier date..... surely this is admitting some liability ?

 

I've advised him to look closely at his PPI policy agreement again , to see who countersigned as having provided this , i.e A&L or the IFA.

 

Thing is are any of them responsible or is it now Cardif Pinnacle .....?

 

Can anyone come up with any suggestions as to how to proceed on this ... or am I on the right track ...... .

 

Thanks in advance

johnny:)

[alanalana]

Hi everyone ,

 

Bit of advice needed here please ...... a friend of mine who is self-employed took out a mortgage some years ago from A&L . He was sold PPI at the time and the policy is with Cardif Pinnacle.

 

Thing is , now that he is suffering because of the recession , they're saying he has to wind up his business before they will pay out . His contention is that this was not explained to him when he was given the policy, had he known he would never have taken the policy on ....

 

He's at the stage where FOS has become involved and they're asking on the complaint form who supplied the policy . Problem is, A&L are saying that ,as his mortgage was arranged through an Independent Financial Adviser,(IFA) they are not the providers ......but A&L are offering him a ludicrous refund of the difference in his premiums , back to an earlier date..... surely this is admitting some liability ?

 

I've advised him to look closely at his PPI policy agreement again , to see who countersigned as having provided this , i.e A&L or the IFA.

 

Thing is are any of them responsible or is it now Cardif Pinnacle .....?

 

Can anyone come up with any suggestions as to how to proceed on this ... or am I on the right track ...... .

 

Thanks in advance

johnny:)

 

Hello JM,

 

IMO if he has the agreement and it is signed by A&L or on A&L paper and he is repaying the mortgage to A&L including any PPI then it has to be A&L who he claims from. Remember A&L have already been hit with a massive fine by the FSA for mis-selling PPI.

 

Alliance & Leicester to pay £7 million fine for PPI failings

 

If the mortgage was arranged through an independent advisor but the capital is being repaid to A&L then they should be approached for the details on who the IFA is. I would also bet that the PPI is being repaid to A&L and not cardif pinnacle.

 

You will IMO undoubtedly find that a lot of the banks etc offered PPI charged you a huge amount for the PPI but will have obtained the PPI through a internal Insurance company at a much reduced amount to what they charge the individual.

 

Hope this helps

 

aa

[johnnymitch]

Hi AA , lovely to hear from you again ....

 

Thanks so much for your reply,as usual it is most comprehensive and helpful ......

 

I'll have to get him to check the PPI agreement again .... but will keep you in the picture on developments ........,

 

btw, do you reckon there would have been any legality in selling this PPI to someone who is self-employed ...... ?

 

Thanks again ,

[dx100uk]

look like he's in for a windfall

 

go get 'em.

ans don't put up with any rubbish from A&L!

 

dx

[alanalana]

Hi AA , lovely to hear from you again ....

 

Thanks so much for your reply,as usual it is most comprehensive and helpful ......

 

I'll have to get him to check the PPI agreement again .... but will keep you in the picture on developments ........,

 

btw, do you reckon there would have been any legality in selling this PPI to someone who is self-employed ...... ?

 

Thanks again ,

 

Self employed will no doubt be an exclusion in the terms and conditions for you to be able to make a claim so the policy if this exclusion is there and you declared yourself as self employed then it would be mis-sold,

 

aa

[dx100uk]

i find this one strange actually

cause A&L were coughing with only one letter a few months back

they were also writing to people inviting them to reclaim....

 

dx

[johnnymitch]

It looks as if they've provided a 'copy' of a document signed by the rep of the IFA.....but no name or signature of the mortgagee on it , so could be for anyone ......makes me think this was an intermediate document and there are other documents to go with it .... which they haven't sent ...... because they're incriminatory to either A&L or Cardif...........

 

Do you think maybe a full-blown SAR is worth pursuing .... ? and is there a template for one for Mortgages handy ?

 

Thanks again for all your input guys ......

[dx100uk]

yes fire off the PPI SAR in our stickies here

 

dx

[citizenB]

Best of luck JM

[johnnymitch]

Sorry I've been a bit out of this lately .......

 

My friend has now had a Final Decision Letter from Cardif Pinacle which states :

 

"In order to be entitled to benefit form your Insurance , you are required to have ceased trading."

 

it goes on to say :

 

"As I hope you can appreciate, this is important...etc etc ... as you must be entirely without gainful employment ........

Regrettably , it does not seem that your situation fulfils the mandatory definitions stipulated as this is a temporary cessation only until work is found .This type of 'lull in trade ' was not designed to be covered by the policy ........"

So ,his contention is that, as a self-employed person at the time of the selling of this policy, no-one in his right mind would have agreed to this kind of Mortgage Protection Cover ........ therefore it was mis-sold as his staus all along ....has been that of Self-employed...... and still is ....

 

I've advised him to forward a copy of the Final Decision letter to the ombudsman, to be married up with the previous correspondence , and we await a decision........

 

Meanwhile, is there anything else we should be doing to push this claim along......... I'd be grateful for any suggestions ,

 

Thanks in advance folks

[johnnymitch]

btw , he's had a copy of the Cover agreement he signed. I noticed on the bit which gives options of alternative decisions , nothing has been deleted , which means no options were discussed or explained to him ......

 

I've advised him to point this out to FOS when he sends a copy of it ......

[citizenB]

Sorry I've been a bit out of this lately .......

 

My friend has now had a Final Decision Letter from Cardif Pinacle which states :

 

"In order to be entitled to benefit form your Insurance , you are required to have ceased trading."

 

it goes on to say :

 

"As I hope you can appreciate, this is important...etc etc ... as you must be entirely without gainful employment ........

Regrettably , it does not seem that your situation fulfils the mandatory definitions stipulated as this is a temporary cessation only until work is found .This type of 'lull in trade ' was not designed to be covered by the policy ........"

 

So ,his contention is that, as a self-employed person at the time of the selling of this policy, no-one in his right mind would have agreed to this kind of Mortgage Protection Cover ........ therefore it was mis-sold as his staus all along ....has been that of Self-employed...... and still is ....

 

I've advised him to forward a copy of the Final Decision letter to the ombudsman, to be married up with the previous correspondence , and we await a decision........

 

Meanwhile, is there anything else we should be doing to push this claim along......... I'd be grateful for any suggestions ,

 

Thanks in advance folks

 

Almost certainly if this wasnt explained to him, then it was mis sold. What a load of....

 

Just make sure you take copies of all the paperwork and bullet point everything on the complaint form. I rather suspect that in the first instance you will receive from the FOS, one of their new fangled forms , where you will need to repeat everything again. This they will send off to the company, even though you have received a Final Response letter from them:confused:

 

IMHO, the complaint form and documents should be sufficient. But the poor darlings are under a lot of pressure

[dx100uk]

it almost reads that they are mistaking his mis-selling PPI reclaim request as a CLAIM on the PPI?

 

my thoughts

 

dx

[johnnymitch]

Thanks CB and dx,

 

Ah ,well it was when he tried to claim on his MRC (PPI) that they turned him down for eligibility ..... that's when he complained of mis-selling .......

 

 

and btw , you're absolutely right CB , they've sent a Complaint Form AND a Consumer 'something' form ....... both of which contain much the same information. ........