PPI Reclaiming discussion Part III

maxdp

trini wrote: »

Hi Di,

Ring head office specifically the mortgage department and ask to speak to the team that deal with the flexible features on the account. If it is stated in your terms and conditions there is no way they can refuse it. I presume you're aware the interest is still added to the account for the month. In our company if the customer has a flexible mortgage and has made 9 full monthly payments on time there is no way we can refuse a payment holiday to the account.

Thanks for that information Trini that is good to know.;)

maxdp

trini wrote: »

Do they not need to have proof that these docs were sent or can they just say that it would be company policy to send them and if I didn't received them tough?

Trini they hide behind the small print. It is up to them to prove that your received it. Did you sign anything and send it back

marshallka

trini wrote: »

Thanks so if I was sold this in October 2002 by a salesperson in the street with a clipboard when I took out my credit card I cannot state mis selling due to her not being trained?

I do not even recall taking out PPI with the credit card and certainly don't remember receiving any docs re this.

I complained to Goldfish that sales person was not trained, they did not ask about medical background and I did not know what the policy did and did not cover. Goldfish ended up closing down before this was resolved so I had to pass the complaint to Barclaycard (on behalf of Goldfish as they bought them out) and they have sent me a letter pretty much immediately saying the policy was not mis sold - I received docs, cancellation info etc and they will not look into this further and to go to FOS.

I added to the post about the GISC and 8 other schemes making up the Ombudsman too after you quoted this. I don't know if Goldfish would come under them... . Also was it actually Goldfish that sold this to you??

maxdp

trini wrote: »

Thanks so if I was sold this in October 2002 by a salesperson in the street with a clipboard when I took out my credit card I cannot state mis selling due to her not being trained?

I do not even recall taking out PPI with the credit card and certainly don't remember receiving any docs re this.

I complained to Goldfish that sales person was not trained, they did not ask about medical background and I did not know what the policy did and did not cover. Goldfish ended up closing down before this was resolved so I had to pass the complaint to Barclaycard (on behalf of Goldfish as they bought them out) and they have sent me a letter pretty much immediately saying the policy was not mis sold - I received docs, cancellation info etc and they will not look into this further and to go to FOS.

Trini this is typical barclaycard. Do not go along with that. I am sure that I am right in saying that until that date they were not meant to be doing advised sales. Cause they were not trained to do so. Although saying that they did t advised sales cause they advised you to take the PPI.You should have been informed that you could take a stand alone policy that would have been cheaper. They were also not trained to advice on your medical conditions etc.

I would advice to write back re-iterating your complaint. Give them a time limit to write back. Also advice that you will take this to the FOS if you are not satisfied with the reply. It will take up to a year. Do not be put off by this cause the more people that complain, then eventually hopefully Barclaycard will also be fined for miss selling.

I have a complaint in with FOS at moment. They have paid back some of what is due to me in July since then no communication even though the FOS is involved.

marshallka

trini wrote: »

Hi Di,

Ring head office specifically the mortgage department and ask to speak to the team that deal with the flexible features on the account. If it is stated in your terms and conditions there is no way they can refuse it. I presume you're aware the interest is still added to the account for the month. In our company if the customer has a flexible mortgage and has made 9 full monthly payments on time there is no way we can refuse a payment holiday to the account.

I have only used this facility one time as it then pushed up our repayments and like you say the interest is still added and then repayments more so we try to never use it. Also in MOST of the t and c's about this facility it states about the LTV not exceeding the criteria and as house prices are crashing then some do actually do this...we resorted to paying interest only this year....

marshallka

di3004 wrote: »

Shouldn't they confirm this to you though by letter? Such as let you know the change of the policy details, t&c'S etc ??

Ours is a fixed rate for 3 years and we can even make overpayments etc without being penalised, flexible but always just kept to the same payment arranged.....
Will check on this but I know its was the min of 90% when we taken this out.

It would not be a change in the policy, I will bet somewhere in small print it will mention about the LTV bit. Most of these do and perhaps you can google it with C and G to see what theirs actually state. I have tried and I have found this on other t and c's with building society's etc.

Could you not just pay interest only til you are on your feet. Thats what we have done the last year...??

di3004

marshallka wrote: »

I have only used this facility one time as it then pushed up our repayments and like you say the interest is still added and then repayments more so we try to never use it. Also in MOST of the t and c's about this facility it states about the LTV not exceeding the criteria and as house prices are crashing then some do actually do this...we resorted to paying interest only this year....[/quote


Thanks hun

Been checking this out and can't find anything in the small print lol, so got hubby to take a look as well in case its my eyes.

I think it may be a good idea then to go interest only until we are sorted out.;) Think they may be open in the morning, can't get through now, fingers crossed. Cheers.:D

marshallka

di3004 wrote: »

marshallka wrote: »

I have only used this facility one time as it then pushed up our repayments and like you say the interest is still added and then repayments more so we try to never use it. Also in MOST of the t and c's about this facility it states about the LTV not exceeding the criteria and as house prices are crashing then some do actually do this...we resorted to paying interest only this year....[/quote


Thanks hun

Been checking this out and can't find anything in the small print lol, so got hubby to take a look as well in case its my eyes.

I think it may be a good idea then to go interest only until we are sorted out.;) Think they may be open in the morning, can't get through now, fingers crossed. Cheers.:D

If they allow this facility too. We are with Intelligent Fincance and they allow it but some don't...

marshallka

This is from C and G here

You said:
Can I pay less on my mortgage some months or take a payment holiday?

Our answer is:
In certain circumstances, and subject to your mortgage being up-to-date, you could pay less than the full monthly mortgage payment that is due, or even suspend your payments for a short time, however you may need to pay a charge and you will need to meet certain conditions. You can ask us about taking a break from repaying your mortgage, please be aware that if you reduce or stop your payments interest will still be charged and this will increase the balance of your mortgage.

trini

di3004 wrote: »

Shouldn't they confirm this to you though by letter? Such as let you know the change of the policy details, t&c'S etc ??

Ours is a fixed rate for 3 years and we can even make overpayments etc without being penalised, flexible but always just kept to the same payment arranged.....
Will check on this but I know its was the min of 90% when we taken this out.

If your T and C and mtg offer say you can have a payment holiday they need to state any criteria applicable to this as the offer of loan is a binding contract which they cannot amend at a leter date. If yours says you need to make 6 payments and you have done that and up to date there is no reason you cannot have pay hol. The only possible reason would be that they have not yet rcvd Dec payment or that one or more of your payments were slightly late. Can I ask how you make your monthly payments?