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JGM
JGM, Solicitor
Category: Law
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Experience:  30 years as a practising solicitor.
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In 1994 I took a second mortgage loan from a broker namely

Customer Question

In 1994 I took a second mortgage loan from a broker namely The Loan Express. They passed me on to First National Securiies who approved the £25,000 loan. I was told that if I didn't take out PPI the loan would be refused. I paid FNS every month until cleared the loan off in 2004 ??. I claimed back pip but FNS say because I got the loan via a broker it should be the broker with whom I should make the claim.
I never paid any money to the broker as all monies were paid by direct debit to First National Securities. I feel that FNS should be liable to reimburse pip as all monies were paid to the. The Loan Express no longer practice.
Could you please advise me
Thank you
Mr James Grant dob 27/08/1947 *****
Kilmarnock KA1 4LP
Address at time of loan***** Kilmarnock, KA1 3RW
Submitted: 2 years ago.
Category: Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
FNS is correct in this instance. Because you used a broker it is the broker's advice that is at issue and any claim you have is against the broker. If the broker is no longer in business you will have difficulty in making the claim. I'm sorry that you won't like this advice but that is the legal position I'm afraid.
Happy to discuss further.
Please leave a positive response so that I am credited for my time.
JGM, Solicitor
Category: Law
Satisfied Customers: 10897
Experience: 30 years as a practising solicitor.
JGM and other Law Specialists are ready to help you
Expert:  JGM replied 2 years ago.
The only possible thing you could do is put in a claim to the Financial Services Compensation Scheme which deals with claims from clients of failed financial services businesses. Whether they could help would depend on the circumstances whereby the broker no longer trades and their current legal status.

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