What determines that a policy is a PPI ? Ombudsman's investigation into my claim

[jdlover]

Hi,

With help from this site and sheer determination, I managed to get my case for ppi mis-selling to the ombudsman and with all the information I provided, I was quite confident of a result.

REPLY FROM OMBUDSMAN ;

" The Halifax have provided us with evidence that shows that the policy you were sold was for life cover and critical illness but no unemployment cover, and is therefore not a PPI policy"

" Unless you can provide information that a PPI policy was sold, we can't take the matter any further"

I was bewildered .....It was a policy covering the 10 year term of the loan with monthly payments alongside my loan repayments how can it not be a PPI ?

Briefly, I took a £40,000 loan (mortgage as my house was security) with the Halifax and was led to believe that it covered me for serious illness, life cover and unemployment, and that the policy was necessary to get the loan approved.

The repayments were £390 per month plus £37.00 per month for this policy.

It turned out that I was conned because the final paperwork which I didnt check properly didnt have a tick against unemployment, just the other two.

[Amethyst]

Re: What determines that a policy is a PPI ? Ombudsman's investigation into my claim

In my view, as this is the first you knew that the policy did not cover you for unemployment then you were missold the critical illness and life cover policy. The ombudsman should deal with issues of misselling regardless of whether it actually was a PPI policy or not. You have to be a little careful though as stating you thought you were buying PPI when in fact you were buying just critical illness and life cover would quash your claims of misselling should it turn out to have been a PPI policy.

Have you sent a subject access request to Halifax at all for full details of the policy - or have the Ombudsman provided you with more information ?

Could be worth posting up your response from the ombudsman and halifax to help with a reponse to the decision.

Sharon
xx

[jdlover]

Re: What determines that a policy is a PPI ? Ombudsman's investigation into my claim

Thanks for reading Sharon. The documents I sent copies of to the ombudsman and the basis of my case is that I was told that I HAD to have some sort of policy for the bank to consider the loan of that size. The loan was to consolidate debts during a very difficult period of my life, where every pound mattered. My point was is it reasonable to assume that i would take a policy out costing £37 per month if I didnt need to?
The ombudsman seems to have not even considered this but accept the Halifaxs claim that this was not a PPI.

Strange

Les