First post here!
After speaking to an IFA about our financial position, I realised that we had PPI on two accounts with Northern Rock (through Pinnacle, and both were sold to us for our mortgage, one at first application and the second one when we topped up the mortgage for a house extension).
When we applied for them we were told we must have them in place or the mortgage wouldn't be approved. Our IFA told us that wasn't allowed and that we had a claim for PPI.
So I followed the process, and sent off the questionnaire to Pinnacle in early August and received a letter back saying that PPI claims had to be dealt with through NR as they were responsible for selling them to us and Pinnacle were only underwriting them. Pinnacle then sent the letter on to NR.
In early September I received a letter from NR saying that they were looking into the claim. Then I received another letter in early Oct saying that they hadn't been able to look into the claim properly, and that they hoped I'd give them more time to look into it.
I've now received another letter today, saying that they haven't been able to look into the claim properly yet and that they hope to be able to do it within four weeks, but if they can't, then they'll update me at that point.
This is the only PPI we've ever had, and we only took it out because we were advised to by NR.
I wouldn't usually take out any PPI as my husband and I both had jobs (at the time) which would have paid a generous redundancy and full sick pay for six months.
My husband was made redundant in April and, according to our IFA, because he had a redundancy payout,
we wouldn't have been able to claim the PPI.
Now we are self employed, the terms of the PPI exclude us anyway.
So needless to say I cancelled both policies straightaway.
What should I do now?
Leave the NR to investigate and come back to me within 4 weeks or take it elsewhere (presumably the FOS)?
I'm in no hurry for the money to come back, just as long as it does come back!