Thread: Halifax endowment

Does PPI (and the attendant rules on mis-selling) extend to mortgage protection?
My son is about to enter the realms of 'shortfall' (after overlooking the fact that I might have been able to help) and has just handed me his history of annual statements etc to see if I can spot anything (that's NOT out of time). I notice that he's been paying mortgage protection but has no policy documents or any record or recollection of how it was sold. Hence my current interest.
If we found the policy to have been mis-sold then the premium reclaim (if upheld) would probably meet the shortfall. Any advice (short of slashing the wrists) would be gratefully received.

Originally Posted by kennyh

Does ppi (and the attendant rules on mis-selling) extend to mortgage protection?
My son is about to enter the realms of 'shortfall' (after overlooking the fact that I might have been able to help) and has just handed me his history of annual statements etc to see if I can spot anything (that's NOT out of time). I notice that he's been paying mortgage protection but has no policy documents or any record or recollection of how it was sold. Hence my current interest.
If we found the policy to have been mis-sold then the premium reclaim (if upheld) would probably meet the shortfall. Any advice (short of slashing the wrists) would be gratefully received.

Payment Protection Insurance was mis-sold with Loans, Mortgages, Car sales, and probably a lot more. The banks have called it Retail Regulatory Risk. (Goodbye Sir Fred Goodwin RBS Who allegedly ripped off thousands and his staff got very nice bonus awards for selling PPI)

You should start with a Subject access request and take it from there.

Please read the stickies at the top of this forum study and learn and then fight back.
Here is your starter for 10.

Full SAR for ppi

Data Protection Act 1998 - Subject access request

Some notes for your SAR

You can be specific with what data you request although the Subject Access Request is really asking for everything. The Statutory fee is £10.00 Postal Order is fine but keep the details of the number for future reference. The post office will be able to confirm when it was encashed (just call 01246 542091 they will even send written confirmation if you request it) Send all correspondence by at least recorded to be signed for so you can track delivery through Royal Mail

You should request the following documents:

A true copy of your Consumer Credit Agreement with the terms and conditions that were applicable at the time you took the loan/card/mortgage.

A ‘demands and needs’ questionnaire.

Copies of all statements applicable to the loan/card/mortgage.

Copies of all correspondence that apply to you as a data subject ie letters, emails, faxes etc.

Copies of all recorded telephone calls or transcripts of the recordings.

Copies of any notes made by bank/loan company staff in their dealings with you as a data subject.

Do not be fobbed off by them citing issues such as relevant filing systems.

If they have any records/data on you as a data subject and it is held under your name, address, post code, account number/s or any other system where the data is identifiable to you then it is a relevant filing system. Even if it is a specific serial number on microfiche records and the serial number is applicable to you.

Be sure to state that the lack of provision of information will result in a formal complaint to the Information Commissioners Office for failure to comply with the Data Protection Act 1998.


good luck keep posting.

aa

alanalana,
I thank you
Ken

Originally Posted by kennyh

alanalana,
I thank you
Ken

Your are welcome.

aa

HX has now provided a half-tree of paperwork (some in semi-machine code).
A question - when calculating what to reclaim can I claim the current bank rate being charged for the mortgage at that time on the grounds that they would have "benefitted from undue enrichment"; bearing in mind that the premium payments were not into a debit balance situation, or just 8%pa simple?

Bump- might seem a bit simplistic but please indulge an old idiot.