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I recently complained to Halifax regarding the mis-selling of a loan and a mortgage (formerly Leeds Building Society). I successfully made the claim for the loan and on the same grounds was rejected for my mortgage. The loan was taken out after the mortgage and the same reasons were stated, so therefore there seems to be an inconsistency in the application of their ajudication process. The reasons that a cited were as follows:
I believe that I was mis-sold this policy for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.
(a) I wasn’t told that the insurance was optional.
(b) The policy exclusions weren’t explained to me before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me .
I have just responed using a couple of the letters on this site as a reference point (see attached)
I have the original copies of the PPI forms that were signed and distinctly remember that the sequence of events was:
1. Tell you about PPI and that it was a good idea to take it out (no exclusions or limitations given)
2. Ask you to sign the forms
3. Give you/send you documents only confirming what they had said
Therefore, I would maitain that I should have been able to rely on the representations made by the Leeds representative that represented a direct inducement to take out PPI. The method of selling in real life was obviously driven by the motivation to make profits and there was not any attempt to meticulously expain all the details including exclusions and limitations of the policy.
Interestingly, I was self-employed during part of the term of the mortgate. I have read that being self employed would have meant that the policy was not applicable, but I am not sure if this was true. The reason that I never explained my transition from being an employee to being self-employed to Halifax, was that I was told that the insurance was for when 'you were out of work' (evidence of mis-selling), nor did the transition prompt me to contact the Halifax, as I was not 'out of work'.
I would very much apprectiate your thoughts and comments on my position in relation to the stregth of my claim, the attached letter and also clarification regarding PPI & self employment.
Thanks, David
I believe that I was mis-sold this policy for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.
(a) I wasn’t told that the insurance was optional.
(b) The policy exclusions weren’t explained to me before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me .
I have just responed using a couple of the letters on this site as a reference point (see attached)
I have the original copies of the PPI forms that were signed and distinctly remember that the sequence of events was:
1. Tell you about PPI and that it was a good idea to take it out (no exclusions or limitations given)
2. Ask you to sign the forms
3. Give you/send you documents only confirming what they had said
Therefore, I would maitain that I should have been able to rely on the representations made by the Leeds representative that represented a direct inducement to take out PPI. The method of selling in real life was obviously driven by the motivation to make profits and there was not any attempt to meticulously expain all the details including exclusions and limitations of the policy.
Interestingly, I was self-employed during part of the term of the mortgate. I have read that being self employed would have meant that the policy was not applicable, but I am not sure if this was true. The reason that I never explained my transition from being an employee to being self-employed to Halifax, was that I was told that the insurance was for when 'you were out of work' (evidence of mis-selling), nor did the transition prompt me to contact the Halifax, as I was not 'out of work'.
I would very much apprectiate your thoughts and comments on my position in relation to the stregth of my claim, the attached letter and also clarification regarding PPI & self employment.
Thanks, David
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