West Riding Personal Financial Solutions managing director Neil Liversidge has written to a claims management company demanding it pay over £3,800 for wasting his time to investigate a mortgage misselling claim, or face court action.
Liversidge has asked Money Claims UK to refund him the money lost through investigating a claim of mortgage misselling in August 2012.
The claim was rejected by West Riding and no appeal was submitted to the Financial Ombudsman Service.
Liversidge claims West Riding lost £2,861.25 through time spent investigating and rebutting what he terms the “groundless” complaint.
Liversidge said he spent almost 15 hours of his own time investigating the claim, and three and a half hours of his PA’s time. He says his own time is charged out at £175 per hour and his PA’s at £80 an hour.
He is also claiming for a further £1,000 to compensate for upset and distress caused to him and his family as he was forced to investigate the complaint while on holiday.
Liversidge says he will commence court action against Money Claims UK if it fails to respond to the letter in the next 28 days.
In the letter, he says: “We were forced to devote our time to investigating and disproving your allegation. This involved my personal assistant’s time and my own.
“Your complaint, coming at the time it did, disrupted my annual holiday in Italy much to my inconvenience, anxiety and distress, and that also of my family.”
Last month, Money Marketing revealed that Highclere Financial Services had been awarded £340 through the small claims court after contesting a payment protection insurance misselling claim from a claims management firm.
Claims firm Aims Reclaim was forced to pay Highclere partner Alan Lakey £100 for wasting his time and £240.20 in legal costs.