Material returned after SAR What next?

[Tungata]

I need some help in understanding the information that was returned following an SAR issued on HBOS. This relates to a loan that my wife took out in ‘06 that had 42% of the capital sum applied as PPI.

Specifically, what am I looking for?

 

In summary the useful info I have got is

Original signed contract (showing “insurance” being applied to the loan amount)

Other papers provided at time of contract

Payments made and dates Etc

The not so useful info I have got

A paper (appears to have been issued with the contract, for signature) that states that based on needs have been assessed and we recommend insurance. Precise text below

Information not provided or "missing"

Transcript from the point of sale (via telephone) - there is no mention of this in the stuff that came back from HBOS

 

 

My wife maintains that at time of application, she was she was led to believe that the likelihood of a successful loan application would increase if PPI was taken out. She has no recollection of being told that it was optional and that she could obtain cover elsewhere and she's convinced she was not questioned over her health etc, yet the following appears to show that she’s been asked specific questions

 

One of the papers returned by the SAR (in the contract pack) states:

 

Need

Mrs XXXXXXX you have confirmed that you are working and have applied for a loan. You require the peace of mind that your monthly loan repayment would be covered should your income stop unexpectedly.

Our Recommendation and The Reasons For Making Them

We are advising and making a recommendation to you after we have assessed your needs based on the information provided to us, the product recommended is suitable because it will cover you should your income stop unexpectedly.

 

We recommend that you consider our Creditcare Gold, as you have advised that you do not have existing cover that you wish to use, that would protect your new commitment to us. You have advised that you have taken into account the cost of the insurance, which will be added to your new monthly loan payment on completion of your loan.

 

Given all that, the (signed) contract we have clearly show that the “Creditcare Gold” box has not been checked/ticked

 

These two points are in conflict. Any hints or tips about this?

 

Or this just poor-management by HBOS, that we can use to our advantage?

Edited February 3, 2012 by Tungata

[ims21]

Hi

 

So they provided the agreement and statements of account yes?

 

That is all you need to prepare your claim schedule.

 

Forget getting bogged down in the minutia of things....check the list of criteria for mis-selling...there are usually three or ore that apply to most people who have been mis-sold

 

ims

Edited February 3, 2012 by ims21

[Tungata]

Thanks for the response. Sometimes it's always good to have second opinion to clarify what the actual objective is

 

Yes, we do have all the stuff about what the initial loan was, how much was PPI, what was paid and when Etc

 

FOS Questionnaire under construction now....