Cardif Pinnacle Insurance

[GAVBU28]

Afternoon all,

 

I was wondering if someone can offer a bit of advice.

 

My partner has recently contacted all her direct debit companies to inform them of change of date for being payed. Whilst going through the list she discovered that she's been paying £14 - £18 a month for what we believe to be PPI since 1996. She did take out the policy, but the mortgage in question was settled in 2000!

 

The company in question are sending through details of the policy but I wondered where she stands, as shes been paying for something that was settled 13yrs ago!

 

Its her fault no doubt about that, but if anyone can offer any advice that would be most welcome.

 

Thanks in advance.

[unclebulgaria67]

She can apply for a refund back as far as there are accounts records. This company may not have records going back to 2000, but if it is the same amount going out every month, then it is easy to work out the refund.

 

Make a complaint and follow the normal PPI claim back guidelines.

 

http://www.consumerwiki.co.uk/index.php/PPI

 

If the PPI was related to the mortgage only and not related to her general financial exposure, then it should have been cancelled at the same time the mortgage finished.

 

My only slight question is whether the PPI was arranged separately or whether the mortgage advisor arranged it. I can see this company turning around saying that it was your partners responsibilty to cancel if it was totally separate to the mortgage arrangement.

[url=http://www.consumerwiki.co.uk/index.php/PPI][/url]

[bach]

Hi

Only just come back to the Consumer Action Group after being of the radar for the last 3 years. (Joined June 2005)

I have had a claim in with the FOS for the last 18 months having paid PPI on a loan upfront which was not required. (Long Story)

however, have been helping friends and family with claims, so Iv learnt quite a lot!

 

Which company was the PPI with? Who was the original loan with?

Can you post up more details ie How long was the policy for? how long was the insurance cover for? etc

And NO it's not anyone's fault, these Companies deliberately mislead us ALL

 

Can you give me more information

 

Lynn

[GAVBU28]

Thanks for you advice.

 

The original mortgage was with Alliance and Leicester, and insurance was taken out as part of that deal with Cardiff Pinnacle, possibly just Pinnacle insurance in those days, all dealt with in the branch.

 

Can't recall any more information sadly.

[bach]

Good Morning

 

I sent a SAR to Cardiff Pinnacle & to the loan Company, I think this would be a good way to start, if you haven't got any statements (£10 required for the information)

Or follow procedure above http://www.consumerwiki.co.uk/index.php/PPI

hope this helps

Start the ball rolling now you have nothing to loose!

[GAVBU28]

Thanks bach, we'll do just that.

 

Shes not disputing PPI at all, she DID take out the insurance on the mortgage, its the fact that shes been paying it for 13yrs after the mortgage has finished!

 

Do we still send a SAR?

[bach]

I think first then I would give them a call and tell them the situation. If they say your insurance was with Cardiff Pinnacle tell them the situation and ask for a refund.

Then put it in writing a explain you have spoken over the phone and you are confirming the conversation in writing, tell them in the letter that you are still paying for it now and you are claiming a refund.

If you know how much you have overpaid, total it up and add the interest that was originally applied to the Mortgage.(should be a nice little sum)

Similar happened to us, we paid back loan early, and Cardiff Pinnacle didn't notify us that we were entitled to a proportion back. When I wrote to them they had no PPI contract for us. GE told us that the Insurance was with them. Anyway now with Financial Ombudsman(over 18mnths now)

Cardiff Pinnacle say they don't know us, it turns out that the Insurance may be with General Insurance or Aviva, its a nightmare!!!!

 

All my paperwork shows the Insurance was with Cardiff Pinnacle, I think there is a cover up going on somewhere.

Make the phone call and first find out if you are actually with them.

Lynn

[GAVBU28]

Thanks for that Lynn.

 

When she spoke to them on Friday they did ackowledge that she had a policy with them, they're sending the information out to us, so we'll see what happens.

[GAVBU28]

Had a reply from Cardiff Pinnacle which basically says its our fault:

 

I can confirm that this policy is portable, meaning you would still be covered under this policy as long as you have a mortgage in place whether this is still with Alliance and Leicester or not. Please also be advised that we are a separate department from the mortgage department we are not advised when a mortgage redeems and it is your responsibilty to ensure the cover you have is correct.

 

Not really sure what to do now....

[dw190]

Had a reply from Cardiff Pinnacle which basically says its our fault:

 

I can confirm that this policy is portable, meaning you would still be covered under this policy as long as you have a mortgage in place whether this is still with Alliance and Leicester or not. Please also be advised that we are a separate department from the mortgage department we are not advised when a mortgage redeems and it is your responsibilty to ensure the cover you have is correct.

 

Not really sure what to do now....

 

"Covered by this policy as long as you have a mortgage in place"

 

No mortgage in place so no cover. If they're not covering anything there is no risk and the money you have been paying was for risk.

 

As the policy is or was recently still live then your SAR should ge t you a copy of the original policy terms to check for any term relating to the need of you notyfying them of the redemption.

[GAVBU28]

Thanks for that, we'll wait for the SAR to be answered.

[GAVBU28]

Had a reply from Cardiff Pinnacle this morning:

 

Basically what they're saying is that the policy is 'portable' and does not automatically end when the mortgage is finished. The policy remains in force because we haven't informed them we wanted the policy camcelled.They also say that the company has been collecting the payment since 1997 and our bank statements would have said 'Pinnacle insurance' (This is incorrect, it actually says allis pins col)

 

They go on to say previous cases with the financial ombudsman service say they consider a reasonable amount of time for customers to be aware of a direct debit would be 2 years and we should have been fully aware the money was being collected by Pinnacle insurance.

 

Ummmm, still waiting for the subject access request to be actioned.

 

I have to say the letter isn't a standard reply, but its put together extremely poorly in my opinion, not sure what to do from here, thinking time required as we do admit its partially our fault for paying the darn thing for so long!

[Mwynci]

They are right to point out that it was your responsibility, however you have been paying for a product which offered no cover as there was nothing to protect. They should be ( upon receipt of evidence to show there is no mortgage on the property) be offering a reimbursement less any applicable admin fees. But then I'm no ombudsman.

Do know the FOS really dislike firms telling customers that the FOS will do this or that.

[GAVBU28]

Speaking to a few people most have NEVER had to inform a mortgage protection company that the mortgage has eneded and moved elsewhere, has anyone else had to tell the insurance company seperate?

 

So you have a mortgage with Halifax, move to Barclays and its up to you to tell halifax insurance to stop? its always done automatically isn't it?

 

Not related here, but got a few looking over bank statements at work currently!