PPI on Swift Advances mortgage.......***WON***

[alanalana]

Thanks again aa:grin:

 

Have got the letter already to send re:PPI mis-selling but just wanted to confirm who you good peeps think it best to send it to -

 

Swift and copy it to the broker?

 

Broker and copy it to Swift?

 

Or what about the insurance co?

 

I imagine whoever it goes to will pass the buck and deny responsibility, but as Swift didn't include any PPI info in our Subject Access Request, I'm wondering if maybe they shouldn't be our first port of call........having said that, we copied the Subject Access Request letter to the broker (by recorded delivery of course) and got no acknowledgement that they'd ever received it coupled with the fact that RM track and trace still show it as not delivered over 40 days down the line, so I'm a bit wary about sending anything so important to them:cry:

 

Any advice would be most welcome as always, thank you!

 

Regards,

 

Landy x

 

If your Consumer Credit Agreement is on Swift headed paper then send to them copy to the Broker I would always advise to claim from whover the Agreement is with. IMO it is unlikely you will have a CCA with the broker.

[landy_alert]

Thanks aa:)

 

The CCA is definitely with Swift, but the trouble is if they are not acknowledging my letters regarding the PPI I don't know how next to proceed............do I just wait till the broker gets back to me as they have promised to do?

 

The other thing is this is a non-regulated agreement so does that mean the FOS won't handle it? I don't mind if we have to go down the court route with this one, but as we also have an on-going charges claim with Swift (which Swift ARE currently looking into), I'm wondering if we can just take them to court for the charges and PPI in one go?

 

Sorry for all these PPI related questions I keep coming up with - I did a calculation last night and discovered we have PPI to reclaim (or are in the process of reclaiming) on 14 different loans, cards etc - most paid off, thankfully!

 

Regards,

 

Landy x

[alanalana]

The other thing is this is a non-regulated agreement so does that mean the FOS won't handle it? I don't mind if we have to go down the court route with this one, but as we also have an on-going charges claim with Swift (which Swift ARE currently looking into), I'm wondering if we can just take them to court for the charges and PPI in one go?

 

Not sure about the non regulated and the FOS have a look in here and give them a call for advice.... Telephone number are in here...

 

Links that may help with your claim for Mis-sold PPI

Financial Ombudsman Service

 

http://www.financial-ombudsman.org.u...-insurance.pdf

 

On the charges and PPI you will have to pop into the legal forum for advice but IMO I would think they would be separate issues..

 

Legal Issues

 

aa

[landy_alert]

Thanks aa:) Will do!

 

Regards,

 

Landy x

[landy_alert]

Hi everyone:)

 

Just updating this thread -

 

We received a response from the broker regarding the PPI - they come up with all the usual answers to our allegations that the PPI was mis-sold - ie, denials all round, but and its a big but - they have a blooming recording of the conversation in which it was sold to us. Now, I'm looking into a few queries I still have over this - I don't want to say too much to give the game away if they are watching, but I wondered whether there was anyone who had had success in a case like this?

 

Any help would be much appreciated as always, thanks!

 

Regards,

 

Landy x

[landy_alert]

Hi everyone:)

 

Just updating this thread -

 

We received a response from the broker regarding the PPI - they come up with all the usual answers to our allegations that the PPI was mis-sold - ie, denials all round, but and its a big but - they have a blooming recording of the conversation in which it was sold to us. Now, I'm looking into a few queries I still have over this - I don't want to say too much to give the game away if they are watching, but I wondered whether there was anyone who had had success in a case like this?

 

Any help would be much appreciated as always, thanks!

 

Regards,

 

Landy x

 

Just bumping this thread in case anyone has any experience of a similar situation;)

 

Regards,

 

Landy x

[landy_alert]

Hi everyone:)

 

Just updating this thread -

 

According to the letter we received back from our broker, the PPI was provided by Sterling Insurance. In amongst the paperwork the broker sent 'proving' we chose to take out the 'optional' PPI was a policy document from Sterling. We have never seen this document before and do not have a copy of it in our original file for our mortgage.

 

One strange thing is that the mortgage was taken out in May 2006 and yet the Insurance policy start date is December 2006:confused:

 

In our file we do have some letters relating to the PPI which say the policy was with Premier Writers, who I had always assumed were the Insurer, but I now think that maybe they were just the underwriter?

 

If anyone can shed any light on any of this I would be most grateful.

 

Thank you,

 

Landy x

[bach]

INSURANCE BROKER

 

Name & Registered Office:

PREMIER WRITERS LIMITED

WHITCLIFFE HOUSE

58 WHITCLIFFE ROAD

CLECKHEATON

WEST YORKSHIRE

BD19 3BY

Company No. 01581947

 

 

 

My advise would be to send a letter to STERLING claiming part of the PPI back , or even give them a ring to start with, they are quite approachable.

Explane you paid of the loan early and you beleive that you were entiteled to a part refund, even though you believe you were missold it in the first place.

 

You also mention that there is a recording of your conversation reqarding the PPI.

S A R them and ask for copies of the telephone recordings and all the information they hold on you.

 

Sterling Insurance Group

Ambassador House

Paradise Road

Richmond on Thames

Surrey

TW9 1SQ

 

Tel 0845 271 1500

0870 224 0818

 

Regards Lynn

Edited August 3, 2009 by bach

[landy_alert]

Hi Lynn:)

 

Many thanks for the info - very helpful and most appreciated!

 

I will definitely do as you suggest.

 

Regards,

 

Landy x

[alanalana]

404393 - Swift Advances plc

Current status: Appointed Representative

Effective Date: 31/10/2004 Tied Agent:

Undertakes Insurance Mediation: Y

Registered under Money Laundering Regulations:

 

Address: Arcadia House

Warley Hill Business Park, The Drive

Great Warley

Brentwood

Essex

CM13 3BE

Phone: 44 0845 074 8811

Fax: 44 0845 072 9003

Emai [email protected]

Website: Swift Homepage

 

this may help

 

aa

Edited August 3, 2009 by alanalana

[landy_alert]

Hi everyone:)

 

Just a further update - apologies in advance for the length -

 

I have sent a letter to Sterling as recommended by bach - thank you bach:) Have not yet received a response.

 

Have had a further response from the broker to my letter in which I put them to strict proof with written evidence that they sent us the information they say they sent, allowing us to make an informed decision. Obviously my letter said more than just this but that was the main thrust of it.

 

They have not sent any written proof that they did indeed provide us with this info at the time of taking out the mortgage. Instead they insist that we were sent two copies of the loan agreement - one with PPI and one without.

 

I am absolutely certain they did not, but if they are not prepared to show us the proof and just expect us to take their word for it I'm not sure how to proceed:confused: I am sure that if they had and the PPI had indeed been as optional as they say it was we would not have chosen to take it as we could ill afford the extra expense.

 

Am I right in thinking the onus is on them to prove we received this information?

 

Furthermore any information we were given at the time regarding the PPI was pretty scant - none of it explained the cost of the PPI per month or how it would affect the overall cost of the mortgage. In fact none of the paperwork even showed the total cost for credit of the actual loan:eek:

 

The broker says we were provided with a policy summary/document relating to the PPI policy prior to signing the agreement. I have found one document which refers to an enclosed policy summary, but there is no policy summary. We should, I admit, have noticed this at the time and asked for a copy of it, but firstly we were desperate to borrow the money and we were also pretty bad at reading small print back then so possibly didn't even notice it wasn't there. If we had received it I believe it would be in the file with all the relevant paperwork which we kept together. Why would we get rid of some docs but keep others from the same batch?

 

The only policy document we do have in our possession dating from the time of taking out the mortgage is accompanied by a letter dated 6 weeks after we signed the agreement. This was sent by the underwriter.

 

They also refer to the Demands and Needs statement. We do have a copy of this - it is a generic printed sheet with no questions or answers to be filled in - an example of what is says is -

 

'Your Demands

 

You would like your loan repayments to be repaid if you became involuntarily unemployed or ill within the next five years. (Subject to a maximum period as noted in the Policy Wording or Summary of Cover)*

You would like the outstanding amount of your loan to be settled if you should die within the next five years (see Policy Wording or Summary of Cover to confirm that this coveris available)

 

Your Needs

 

You do not have any way to pay your loan if you have an accident, become sick or are involuntarily unemployed

You do not have any way of paying the outstanding balance of your loan if you die.'

 

We did both sign this form, but the points were not based upon any questions we had been asked. Although we were obviously stupid and naive to sign it without questioning it, the fact that it says we had no other cover is not true as we had insurance with Scottish Widows at the time as well as Mr L's employer providing 6 months full pay etc if he was ill.

 

Additionally the Demands and Needs form refers to five years cover, yet we discovered later (when we received the policy doc from the underwriter after signing) that the PPI was only for three years - so surely there is something wrong there?

 

I don't know now whether to go to the FOS (the broker says it is their final response) or wait till Sterling (the insurer) has replied.

 

I presume that because this dates from 2006 there is no problem with the broker being regulated by the FSA?

 

Any help would be most welcome as always, thank you!

 

Regards,

 

Landy x

Edited August 12, 2009 by landy_alert
Altered something!

[landy_alert]

Hi everyone:)

 

Just a further update - apologies in advance for the length -

 

I have sent a letter to Sterling as recommended by bach - thank you bach:) Have not yet received a response.

 

Have had a further response from the broker to my letter in which I put them to strict proof with written evidence that they sent us the information they say they sent, allowing us to make an informed decision. Obviously my letter said more than just this but that was the main thrust of it.

 

They have not sent any written proof that they did indeed provide us with this info at the time of taking out the mortgage. Instead they insist that we were sent two copies of the loan agreement - one with PPI and one without.

 

I am absolutely certain they did not, but if they are not prepared to show us the proof and just expect us to take their word for it I'm not sure how to proceed:confused: I am sure that if they had and the PPI had indeed been as optional as they say it was we would not have chosen to take it as we could ill afford the extra expense.

 

Am I right in thinking the onus is on them to prove we received this information?

 

Furthermore any information we were given at the time regarding the PPI was pretty scant - none of it explained the cost of the PPI per month or how it would affect the overall cost of the mortgage. In fact none of the paperwork even showed the total cost for credit of the actual loan:eek:

 

The broker says we were provided with a policy summary/document relating to the PPI policy prior to signing the agreement. I have found one document which refers to an enclosed policy summary, but there is no policy summary. We should, I admit, have noticed this at the time and asked for a copy of it, but firstly we were desperate to borrow the money and we were also pretty bad at reading small print back then so possibly didn't even notice it wasn't there. If we had received it I believe it would be in the file with all the relevant paperwork which we kept together. Why would we get rid of some docs but keep others from the same batch?

 

The only policy document we do have in our possession dating from the time of taking out the mortgage is accompanied by a letter dated 6 weeks after we signed the agreement. This was sent by the underwriter.

 

They also refer to the Demands and Needs statement. We do have a copy of this - it is a generic printed sheet with no questions or answers to be filled in - an example of what is says is -

 

'Your Demands

 

You would like your loan repayments to be repaid if you became involuntarily unemployed or ill within the next five years. (Subject to a maximum period as noted in the Policy Wording or Summary of Cover)*

You would like the outstanding amount of your loan to be settled if you should die within the next five years (see Policy Wording or Summary of Cover to confirm that this coveris available)

 

Your Needs

 

You do not have any way to pay your loan if you have an accident, become sick or are involuntarily unemployed

You do not have any way of paying the outstanding balance of your loan if you die.'

 

We did both sign this form, but the points were not based upon any questions we had been asked. Although we were obviously stupid and naive to sign it without questioning it, the fact that it says we had no other cover is not true as we had insurance with Scottish Widows at the time as well as Mr L's employer providing 6 months full pay etc if he was ill.

 

Additionally the Demands and Needs form refers to five years cover, yet we discovered later (when we received the policy doc from the underwriter after signing) that the PPI was only for three years - so surely there is something wrong there?

 

I don't know now whether to go to the FOS (the broker says it is their final response) or wait till Sterling (the insurer) has replied.

 

I presume that because this dates from 2006 there is no problem with the broker being regulated by the FSA?

 

Any help would be most welcome as always, thank you!

 

Regards,

 

Landy x

 

Just giving this a gentle bump for some further advice please:D

[alanalana]

Did you SAR the broker or Swift?

 

I see you sent the PPI letter to both but perhaps the SAR would produce a better result. They can ignore the PPI letter for 8 weeks or refuse your claim in which case the FOS comes into play.

 

The SAR should be complied with in 40 days and then it is the ICO for their failure to comply with a legal statute in law namely the DPA 1998 an act of Parliament.

 

If swift and they are blaming the broker and the broker is saying basically get stuffed by not providing the information perhaps you could SAR broker and if the broker then does not come up with the goods send in a complaint to the ICO requesting they enforce the release of the data they hold on you.

 

IMO I would always advocate chasing the organisation that signed the Consumer Credit Agreement and not the broker or any other side organisation. If a representative of Swift signed then go after them if a broker was used it is up to them to reclaim any PPI money you no doubt have been or are still paying to swift.

 

Hope this is clear ??

 

aa

[landy_alert]

Did you SAR the broker or Swift?

 

I see you sent the PPI letter to both but perhaps the SAR would produce a better result. They can ignore the PPI letter for 8 weeks or refuse your claim in which case the FOS comes into play.

 

The SAR should be complied with in 40 days and then it is the ICO for their failure to comply with a legal statute in law namely the DPA 1998 an act of Parliament.

 

If swift and they are blaming the broker and the broker is saying basically get stuffed by not providing the information perhaps you could SAR broker and if the broker then does not come up with the goods send in a complaint to the ICO requesting they enforce the release of the data they hold on you.

 

IMO I would always advocate chasing the organisation that signed the Consumer Credit Agreement and not the broker or any other side organisation. If a representative of Swift signed then go after them if a broker was used it is up to them to reclaim any PPI money you no doubt have been or are still paying to swift.

 

Hope this is clear ??

 

aa

 

Hi aa:)

 

Thank you as always for a helpful post!

 

I think, but I'm just going to check in my Swift file, that we SARed both Swift and the broker. Hold on a mo........

 

............right, what we did and I think it was on the advice of 42man, who is also a Swift victim, was send the SAR to Swift and copy it to the broker. Swift responded - eventually, after a LBA for non-compliance, but the broker never responded at all. We didn't follow it up I'm afraid:(

 

I suppose we should have just SARed them separately - we could do so now, but I have feeling that now they know we are after them they will just concoct the missing documents to imply we received them when they say we did at the time of taking out the mortgage.

 

I thought by putting them to strict proof, with written evidence, as I did in my last letter that they would have to comply - but either they don't have the proof or else they feel they can just ignore my request.

 

Is there no other way I could find out whether they actually sent us that info, like a CPR request or something?

 

Regards,

 

Landy x

[alanalana]

The CPR route will need a sharper mind than mine. I have generally kept clear of court procedures but you could pop into the legal forums and post the question there I am sure you will get the support you need

[landy_alert]

The CPR route will need a sharper mind than mine. I have generally kept clear of court procedures but you could pop into the legal forums and post the question there I am sure you will get the support you need

 

Thanks aa:)

 

How my mind is feeling at the moment - scrambled - I think maybe I'd better steer clear of CPR too! I've done a bit of reading on the subject in the past, but legalese is not my favourite language:eek:

 

Will have a think about how to proceed next - I definitely don't want to give up as there's too much money at stake, not too mention getting a bit of justice for what poor Mr L went through because of these idiots.

 

Thanks again for your continued support!

 

Regards,

 

Landy x

[landy_alert]

Hi everyone:)

 

Just another update -

 

Sterling Insurance have responded saying our PPI was not with them:(

 

That means that the Sterling Insurance policy sent to us by our broker purporting to be ours was a red herring:mad:

 

Now I'm back to square one unfortunately - I have three options......

 

1) Contact the company I had assumed were the underwriters who must be the actual insurer

 

2) Pass the whole lot to the FOS

 

3) Do I even bother to ask the broker why they sent us a policy that was nothing to do with us?

 

If I decide on option 1, should I ask about a rebate or just say the PPI was mis-sold (as I am still certain it was)?

 

Decisions, decisions - how I hate them, especially as I always seem to make the wrong one:eek:

 

Sorry, had a carp day today (too many enigmatic letters from LTSB to deal with) and have had too much vino tonight!

 

Rant over.

 

Regards,

 

Landy x

Edited August 14, 2009 by landy_alert
Added something!

[landy_alert]

Hi everyone:)

 

I've been having another dig through our paperwork as I'm determined not to give up on this.

 

The paperwork from Premier Writers does contain a policy - so now we have two - but the one from Sterling has been proved to be nothing to do with us, so I'm concentrating on the PW one now.

 

The PPI was only for 3 years despite the fact that the mortgage was for 25 and the policy didn't run out till June this year.

 

I read on another forum when trying to research Premier Writers that someone else who had a policy with them discovered that despite paying off their loan early the policy kept on running till the end of the term and they were charged in full for this when they redeemed. Fortunately for them the wording of their policy was such that if they as the customer terminated their loan agreement early, the insurance would also terminate at that time. Because their insurance had carried on and they had been charged they were able to request a refund, which they subsequently received.

 

Our policy however doesn't say this - in fact it makes no mention of what is to happen in the event the mortgage is settled early:eek:

 

How I interpret it, is that our policy continued to run until June this year even though we settled the mortgage in November 2007. When we settled the mortgage the contined cost of the PPI policy was obviously included in the redemption figure.

 

I suppose we should have looked into this at the time, but because we had gone through a terrible time as a result of this mortgage we were just glad to be shot of it and didn't question the figures.

 

I really need some further advice on what my next step should be - is it worth contacting Premier Writers or should I just go to the FOS?

 

Additionally is it worth contacting the FSA?

 

If anyone could offer any help I would be very grateful!

 

Many thanks,

 

Landy x

[alanalana]

FOS, FSA, OFT and anyone else you can think of the more complaints submitted the more people are aware of what has been going on.

 

It seems a lot of loans mortgages etc have been hidden under cover of further insurances by brokers who have then obtained cheaper insurance from other sources and so the minefield is developed for the consumer.

 

Who do I contact? who sold what to whom? who was the third party? How much was the actual insurance? and so on it truly makes the mind boggle as to the lengths financial institutions would go to sell a product that was worthless in a lot of cases ( the FOS thinks 90% of cases) and use brokers and third party insurers to cut the costs of PPI to them even more yet charge an exorbitant fee to the consumer alledgedly

 

aa

[landy_alert]

FOS, FSA, OFT and anyone else you can think of the more complaints submitted the more people are aware of what has been going on.

 

It seems a lot of loans mortgages etc have been hidden under cover of further insurances by brokers who have then obtained cheaper insurance from other sources and so the minefield is developed for the consumer.

 

Who do I contact? who sold what to whom? who was the third party? How much was the actual insurance? and so on it truly makes the mind boggle as to the lengths financial institutions would go to sell a product that was worthless in a lot of cases ( the FOS thinks 90% of cases) and use brokers and third party insurers to cut the costs of PPI to them even more yet charge an exorbitant fee to the consumer alledgedly

 

aa

 

Hi aa:)

 

Thank you for your help - so do you think I shouldn't even bother contacting the Insurer and go direct to the FOS now?

 

I will definitely send complaints to the FSA, OFT etc also;)

 

Regards,

 

Landy x

[alanalana]

Still go to the insurer then if they come up with a negative you have more to send to the regulators. Make all aware that you are complaining to all they may just start to be a little more helpful.

 

aa

[landy_alert]

Hi everyone:)

 

Well today I have received a reply from Premier Writers, who unsurprisingly have passed the buck back to the broker.

 

They say -

 

'we administer the policy on behalf of the insurers and we were not involved in, nor are we responsible for the sales process. If you wish to complain about the way the policy was sold you must pursue the matter with the finance broker.'

 

They go on to say that at the time of taking out our mortgage, Swift distributed policies that were underwritten by Norwich Union and administered by Premier Writers.

 

Now I think I shall gather all my evidence together and file my complaint with the FOS as well as reporting this matter to the regulators - FSA, OFT etc:D

 

Regards,

 

Landy x

[pompeyfaith]

i agree landy you have spent more than enough time on this and made no progress so time is right to let the pros take it on so it goes without saying good luck PF

[landy_alert]

i agree landy you have spent more than enough time on this and made no progress so time is right to let the pros take it on so it goes without saying good luck PF

 

Thank you PF - I've already got all the correspondence and supporting evidence copied and ready to go!

 

Regards,

 

Landy x

Edited August 26, 2009 by landy_alert

[landy_alert]

Hi everyone:)

 

Just updating this thread -

 

FOS complaint filed for this one today. It's quite a large one - over £12000 with contractual and 8%, so to get a refund on this would be brilliant but because of the recording I have feeling this one won't go in our favour.

 

Anyway, it's out of my hands now and another waiting game begins!

 

Will update when there are further developments.

 

Regards,

 

Landy x