PPI Reclaiming discussion Part III

marshallka

blondie27 wrote: »

it was 2004 when i applied for the card - i got this info from my experian report. thanks for your help!

Were you actually missold then as this should be OK for the Ombudsman I would think if they were a bank (??).

di3004

trini wrote: »

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?

Cheers Trini

We pay the 6th of every month by direct debit, and they have received all repayments since arranged last year.;)

I check my statements online everyday, so checked this as well and yep the amount of the usual £745 and the odds taken out on the 6th Dec.;)

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.

Di, do you mean maximum of 90% here and are you are your maximum cause it was 90% you owed last year then maybe you are over this now as house prices have dropped by thousands.

marshallka

di3004 wrote: »

Cheers Trini

We pay the 6th of every month and they have received all repayments since arranged last year.;)

I check my statements online everyday, so checked this as well and yep the amount of the usual £745 and the odds taken out on the 6th Dec.;)

Di, as your hubby is out of work and you don't work and you do not have a payment protection against this then how are you continuing to pay this amount without the state help??? I would have thought cause of this they would pay the mortgage or help with it and council tax etc...???

di3004

marshallka wrote: »

Di, do you mean maximum of 90% here and are you are your maximum cause it was 90% you owed last year then maybe you are over this now as house prices have dropped by thousands.

I will have to have another thorough read through all my documentation on this, but anyways, just talking to another mate, her brother in the manager of these and is going to check and get back to me tomorrow, fingers crossed.;)

marshallka

Di, just read this on c and g site about changing to interest only


Can I change my repayment type?

If your existing mortgage is calculated on an interest-only basis, you can ask to change your mortgage to a repayment basis at any time. If it's set up on a repayment basis, you can only switch it to interest-only if your total mortgage amount is 75% or less of your property’s value. In either case there is a charge. For full details see our fees and charges.

Although you can normally only switch to interest-only if your mortgage totals 75% or less of your property’s value, if you are ever facing financial difficulties and, as a way of temporarily reducing your mortgage payments, you want to discuss just paying the interest each month for a while on a mortgage that totals more than 75%, please get in touch. If you are facing financial difficulties but haven't actually fallen behind with your mortgage payments, please call 0845 6031 637. Or, if you have fallen behind with your payments, please call 0800 3894 020.


Also states this too


You can apply to borrow more on your mortgage so long as it's been at least six months since you took it out or last borrowed on it, e.g. with a Homeowner Loan. However, you might not be able to take out this new loan at the same interest rate as your mortgage. It all depends on the level of rates at the time. They could be higher or lower.

The most you can borrow in total is 80% of the value of your home. This means that the amount of your existing C&G mortgage and your new loan added together cannot be more than 80% of the value of your home.

di3004

marshallka wrote: »

Di, as your hubby is out of work and you don't work and you do not have a payment protection against this then how are you continuing to pay this amount without the state help??? I would have thought cause of this they would pay the mortgage or help with it and council tax etc...???

As its gone 6 months since the last claim, the income protection from Pinnacle are now checking on this for us, but it will be another 10 days before we hear and of course with xmas and new year in the way..... , we did not have the insurance direct from the mortgage, we pay for this separately a month.
The unemployment office states we have to try them first then if a problem if will have to be arranged from them, but its all going too slow....:rolleyes:

trini

maxdp wrote: »

Yes do and give them a copy of the form you are sending to the FOS just to keep them informed:D Am sure I am right in this but also am sure Marshallka will confirm or give advice. Good luck and thank you so much for your imput on the mortgage stuff.

Merry Christmas:D

Merry Christmas to you too and thanks again

di3004

marshallka wrote: »

Di, just read this on c and g site about changing to interest only


Can I change my repayment type?

If your existing mortgage is calculated on an interest-only basis, you can ask to change your mortgage to a repayment basis at any time. If it's set up on a repayment basis, you can only switch it to interest-only if your total mortgage amount is 75% or less of your property’s value. In either case there is a charge. For full details see our fees and charges.

Although you can normally only switch to interest-only if your mortgage totals 75% or less of your property’s value, if you are ever facing financial difficulties and, as a way of temporarily reducing your mortgage payments, you want to discuss just paying the interest each month for a while on a mortgage that totals more than 75%, please get in touch. If you are facing financial difficulties but haven't actually fallen behind with your mortgage payments, please call 0845 6031 637. Or, if you have fallen behind with your payments, please call 0800 3894 020.

Also states this too

You can apply to borrow more on your mortgage so long as it's been at least six months since you took it out or last borrowed on it, e.g. with a Homeowner Loan. However, you might not be able to take out this new loan at the same interest rate as your mortgage. It all depends on the level of rates at the time. They could be higher or lower.

The most you can borrow in total is 80% of the value of your home. This means that the amount of your existing C&G mortgage and your new loan added together cannot be more than 80% of the value of your home.

Thanks for this, I will take a copy of the tel numbers down now.;)

trini

marshallka wrote: »

Di, as your hubby is out of work and you don't work and you do not have a payment protection against this then how are you continuing to pay this amount without the state help??? I would have thought cause of this they would pay the mortgage or help with it and council tax etc...???

I am glad you mentioned that marshallka.

Di, if part of your mortgage is paid for you our company will not allow payment holidays dunno about others though. However, if you are making payments by DD I and there is nothing in T and C re any other conditions other than you have made 6 full payments I cannot see how they can refuse this. We are open til 12 tomorrow so presume others will be same