London Mortgage Co/ Capstone PPI

[enaid]

Re: London Mortgage Co/ Capstone PPI

Thanks for letting us know and stick to your timetable.
Enaid x

[Ellis27]

Re: London Mortgage Co/ Capstone PPI

Hi
Just received reply from underwriters. They say they cannot investigate my complaint, they only deal with claims arising from the policy. They go on to say that they do not have a relationship with the broker or the finance Company. They state that my complaint is with the broker.
Should I take this to FOS now?

[TUTTSI]

Re: London Mortgage Co/ Capstone PPI

I cannot see that your complaint is with the broker as I presume you paid the loan company for the loan+ interest and the PPI. So are they saying that you did not pay them for the PPI?

I am assuming the broker sold you both the PPI and set up the loan?

The payments I presume were all made to the loan company?

I believe that the FOS should be able to investigate further as a complaint.

[Angry Cat]

Re: London Mortgage Co/ Capstone PPI

A little reading for you:
http://www.dailymail.co.uk/money/art...on-Lehman.html
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http://www.thisismoney.co.uk/mortgag...&in_page_id=58

[Ellis27]

Re: London Mortgage Co/ Capstone PPI

All payments were made to the loan company. PPI was a lump sum added to loan.

Loan Company say Broker is responsible. Broker say's they were not regulated in 2003 (year loan was taken out) Fos have confirmed that they cannot help re chasing broker because they were not regulated.

I was advised to go after underwriter who has now said Broker is responsible any help please?

[Angry Cat]

Re: London Mortgage Co/ Capstone PPI

The follwing website, may also provide some background information:
http://capstoneactiongroup.co.uk/
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All payments were made to the loan company. PPI was a lump sum added to loan.

Loan Company say Broker is responsible. Broker say's they were not regulated in 2003 (year loan was taken out) Fos have confirmed that they cannot help re chasing broker because they were not regulated.

I was advised to go after underwriter who has now said Broker is responsible any help please?

Not regulated by the FSA.
But, all who were selling general insurance (PPI) had to abide by the GISC code and prior to that the Association of British Insurers code!

[Angry Cat]

Re: London Mortgage Co/ Capstone PPI

Slighty off topic for the OP, but relevant;

The Ruthless march of the son of Lehman:

http://www.dailymail.co.uk/money/art...ge-victim.html

[Ellis27]

Re: London Mortgage Co/ Capstone PPI

Thanks.
Do I take the letter from the underwriters as their final response, and now ask FOS to look at my complaint?

[Angry Cat]

Re: London Mortgage Co/ Capstone PPI

Thanks.
Do I take the letter from the underwriters as their final response, and now ask FOS to look at my complaint?

[/Quote by Ellis:
All payments were made to the loan company. PPI was a lump sum added to loan.[/Quote]

They are 'all' passing the buck between themselves...!

Personally speaking and if it were me, I would go back to the original loan provider; challenge them.

Capstone et al are in trouble and, they know it!!!

[Ellis27]

Re: London Mortgage Co/ Capstone PPI

Hi everybody
Long time since I posted but I have been waiting for FOS all this time. I am pleased to say that I have today received a letter from FOS who advised that the underwriters have agreed to accept responsibility so Fos will now deal with these cases in order they were received. I have to wait again but at least it is now moving in the right direction.

[Nic]

Re: London Mortgage Co/ Capstone PPI

Brill news ellis27 keep us updated

[di30]

Re: London Mortgage Co/ Capstone PPI

Sorry I have not been here to post on this one, and would like to say well done!

It is time consuming when going the underwriter avenue, but looks like it was all worthwhile at the end of it, well done!

[Bill-K]

Re: London Mortgage Co/ Capstone PPI

Hi Ellis, and well done for persevering with that. It appears to have opened some doors for others, now. So - even more thanks for that !!!