FOS their assessment of PPI claim

[Steve C]

I have recently received a reply from FOS regarding my PPI complaint.

 

They have turned down my appeal for miss selling against a large building society. The claim goes back to 1991 when we originally took out the mortgage and all the add on`s that the building society strongly recommended at the time.

 

I stated that at no time were we offered the option to purchase these products elsewhere should we wish to do so. The FOS mention in their reply that the building society sold these products on an advice basis only and that the building society were under no obligation to make us aware we could have purchased alternative policies elsewhere!..................Is this correct?

 

Many thanks in advance for all replies

[ims21]

Do you mean "Non Advised Basis"?

 

Have a read of appendix 1 of the FSA handbook here to see how complaints should be handled. Although this relates to the form, there may be some ammunition in there to challenge the fos decision.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?305682-FSA-Handbook

 

You can escalate your complaint within fos to an adjudicator and even higher to the actual ombudsman but you need to give clear and concise reasons why you want to escalate it, reiterate your reasons for the mis-sale and detail why you feel their decision is wrong.

[Steve C]

Many thanks for your reply and the link you provide. I`ll pop and read it after I`ve finished composing this reply

 

The actual term they used was "Given the sale was seemingly conducted on an information only basis".

 

I obviously disagree with this, we were told that (because we had been turned down by other building societies at the time) by purchasing the products they were strongly recommending this would enhance our chances of being accepted. We ended up with PPI, buildings and contents insurance plus individual life insurances.

 

At no point were we offered the chance to purchase these products elsewhere should we wish to do so. The FOS said of the building society "It was not under an obligation to do so"