Hi Steamahead, From what you've written it sounds to me as though you should definitely consider putting in a complaint. Especially with regards the Mortgage & Business Cover! Quite clearly this was not suitable for you as you had neither. Can you remember the details of the meeting you had when this policy was sold? Why they would sell you this sort of product is beyond me? Do you have the summary & recommendations? They should have provided this at the time, outlining why they felt you had a need for this type of cover. The same goes for the Income Protection. You've got nothing to lose in raising a grievance. If you have good reason to believe you weren't given fair advice, then pursue it. Let us know how you get on:-)

Hi there, I made a formal complaint about 10 weeks ago now, and still await the outcome. I have since received an acknowledgment letter stating as they hadn't reached a final decision within the 8 weeks allowed, I could now go to the ombudsman, but I've decided to hold out a bit longer. I originally wrote to them (sent recorded delivery), but as they had trouble locating the letter, I spoke at length with one of their complaints advisers who took down all the details over the phone. The letter eventually materialised, and was added to the complaint file. Unsurprisingly, (out of the blue) just before their response deadline I got a call at home from someone working on behalf of Lloyds/SW who wanted to go over some of the details of the complaint. He started off very polite and helpful, so I was happy to oblige. However, his tone soon changed and he became very accusatory, trying to pick holes in the complaint. I'm not at all shocked that they would use this sort of tactic, so I just reinforced the reasons for my grievance and left it at that. In hindsight, I wish I had refused to speak with him. So that's where I'm at right now, though I won't leave it too much longer before chasing it up. If you don't mind me asking, why was the policy as good as useless to you? I'd be interested to know your experience:-)

Really! Fair enough, I'll just wait and see then

I spoke to Lloyds TSB yesterday to find out if they had any means and needs paperwork or had made an assessment of affordability at the time the loan was serviced. I was passed from pillar to post and the upshot is they don't have anything other than the loan agreement. No notes, no application form, nothing!! I've read up on the OFT's guidance for creditors, and believe Lloyds have failed to adhere to these rules, but they are saying they are not obliged to keep this information as it was done through their telephony banking. I thought there was a basic need to have this documented so that they could refer to it should a complaint arise whereby there was suspicion of irresponsible lending. If the OFT ask for documentary evidence and they can't provide it then surely their breaching the CCA? They've advised I put in the SAR, and they've offered to waive the fee. Any thoughts CAG?

I was given the following address today by Lloyds TSB LLOYDS BANKING GROUP DSAR TEAM CHARLTON PLACE FIRST FLOOR C46 CHARLTON ROAD ANDOVER SP10 1RE

Thanks citizenB, I had a consolidation chain of 4 loans from 2001-2004, each with Single Premium PPI attached. I've recently been successful with complaints submitted, and have received redress. In my case, Lloyds weren't contacting me towards the end of the loan term, but were inviting me to refinance within a year of initiating each agreement, thus topping up my debt year on year. With the current loan, which I've already paid 67/84 months, they were very persuasive and convinced me that the 7 year term was favourable. They said they couldn't secure a competitive APR for me without committing to a longer term. I know this sort of practice was rife around this time (2006) and certainly not exclusive to Lloyds TSB. I know most, if not all lenders were using the hard sell. My biggest regret was ever thinking Lloyds had my best interests at heart. I now know that they're a business like any other, and are only interested in ensuring you continue to be beholden to them for the long term! I think I will do as suggested and send in a SAR, before deciding whether to pursue a complaint. If I could just get the interest back, it would be something!

Thank you BRIGADIER & ukaviator, I'll try and keep this concise. I have been a customer of Lloyds since I was in high school, and until I was 27 had no debt. I approached the bank to finance the purchase of my first car in 2001, I was working full-time, and they agreed to service a £5k loan for me no problems. I was very financially naive at the time and didn't have a clue about APR's, PPI and the like. In a nutshell, Lloyds consistently contacted me at regular intervals after this first agreement had been set up inviting me for financial reviews, each time consolidating the existing debt I had with them into a chain of loans with PPI. In 2004, on the 5th financial review myself and my partner attended (both Lloyds customers, though not living together, nor married, no joint finances, just dating at this point), Lloyds offered to clear my debt and that of my partner (all Lloyds debt) into one loan in my sole name, for just over 13k. They also sold us a Level Term Assurance policy (which we didn't need/want), instead of PPI on this one. I had just been offered a temporary 3 week part time job (I've since found out the FA noted I had been employed for 2 months, a blatant lie). After 6 repayments I finally woke up and realised that the APR of 17.9% was ridiculous, so we shopped about for a better rate and ended up settling the Lloyds loan with Morgan Stanley. I found myself voluntarily out of work in 2005 due to relocating to another part of the country, but partner remained employed with the same company. We were privately renting, no mortgage. However, in 2006 the worst happened and I was diagnosed with a chronic condition which meant partner had to give up work to look after me. We had to really tighten belts, and I looked at all our incomings and outgoings. I spoke with Lloyds TSB over the phone, told them our circumstances and they agreed to consolidate our debt again which was now around 15k. It was a short phone call, no hard proof of income required, just verbal, and a loan was set up for 84 months. Fast forward 6 years, to now, and despite still being unable to work & having to rob Peter to pay Paul we're on the home straight to paying it off. Never defaulted on payments, never had any issues meeting our commitment, because (as we should) we took seriously our responsibility to pay back what we owed, but at the point of sale I don't believe Lloyds TSB cared how we would do that. It was just another sale to them, not to mention the commission I'm sure the CSA probably got?! I've recently been putting in real effort to make sure we never end up in the same boat again, and have successfully had redress on the chain of loans with PPI. Bittersweet though, as unfortunately it's going straight back into Lloyds pockets because of the debt we were left with when my health changed. The reason for my question was initiated because of this statement on the OFT's guidance for Irresponsible Lending that struck a chord with me A further example could be where a borrower is advised by a creditor to consolidate his existing debts under circumstances in which it is clear from the affordability assessment, or ought to be clear from such an assessment, that this is likely to lead to an unsustainably higher cost of credit in the longer term. In the OFT's view, under such circumstances, the borrower may be better and more appropriately advised to seek assistance in the first instance from a notfor- profit provider of free and impartial money advice. I don't believe our circumstances were assessed properly, and we were certainly never advised of other avenues where we could get free help or advice. I know I'm responsible for decisions made on levels of borrowing, but Lloyds have well and truly taken the p*** out of me for years, when I always put my trust in them. I just don't know whether I have cause for complaint?

Before I go into any great detail with this, could I ask one of you learned Caggers this question? Would you deem it irresponsible of a bank to lend a person on sickness benefits a 15k loan, over the phone, without a proper assessment of affordability being carried out?

Thank you HB. I appreciate the encouragement and will let you know how I get on.

Hi HB, Thanks for the reply, and yes I contacted the FSA. They advised I should make a formal complaint if I feel I was mis-sold, but after having a few days to think about it I kinda got cold feet. However, I've done a bit of research and I'm certain this was recommended without real consideration of our needs at the time, so I've just rang LTSB to raise a complaint. They said they'll get the branch that sold us the policy to contact me first thing Monday. There are lots of inconsistencies on the personal summary & recommendations, and it states that they took into consideration a mortgage when neither of us had one!! Also, myself and my partner were not financially linked in anyway, no assets, no joint accounts, nothing, so I believe there was no need for life assurance at all.

I wonder if anyone can shed some light on the need for an 'Insurable Interest' when a life insurance policy is sold? The reason I'm asking is because I'm concerned that there was no insurable interest at the time, other than the fact that a personal loan was set up in my name. My partner wouldn't have suffered financially in the event of my death and vice versa, so I believe there was insufficient need for a policy such as this. Soooo confused?

Huge thanks again ims Cheers andy

Funds now received ims :bounce:Transferred directly into acoount:whoo::clap2: Fingers crossed for everyone else waiting, don't give up

But of course ims, I will definitely be recommending CAG and will let you know when the funds are actually received:thumb:

Cheers HB, Thanks once again. I'm probably clutching at straws with this, but thought I'd ask anyway Will take your advice about contacting FSA