PPI Reclaiming Discussion part 4

amersall

shamrock7 wrote: »

To be honest the reasons are a bit vague. He doesn't really understand the policies or implications and cancelled the policy last year. There was also critical illness attached.
I would say the reason would be the policy was not explained properly. He also said he felt he had to take it out. How would I word this?
kind Regards

Hi there, you could say that this was not fully explained to him and he thought he would not get the mortgage without this cover, also did he have sick pay from work? as this would be another reason for not taking this cover x

amersall

Dirks_Engine_Room wrote: »

Thanks for reply

It was a single policy.

I stated they were pushy, they didn't quote me the loan without PPI, they asked nothing about medical conditions, they did not ask about cover elsewhere, I said Natwest had been punsihed before (they answered RBS had not been punished), the PPI would not run for duration of loan.

The only question they have not answered is the loan without PPI.

Right, this was front loaded and you would pay this over loan term with interest and the policy only covered a few years, you were not told you couldnt get your own cover elsewhere, if i were you i would send the second letter, tell them you do not agree with their findings, you can tell them the fos dont look too kindly on front loaded ppi and uphold 99% of claims. and you would like them to reconsider this.When you get a reply (if it is still no)take this to fos, i know this will take time but at the end of the day they did not explain the way this ppi worked and had you know,there is no way you would have taken it.By the way dont think natwest have been fined.

Dirks_Engine_Room

amersall wrote: »

Right, this was front loaded and you would pay this over loan term with interest and the policy only covered a few years, you were not told you couldnt get your own cover elsewhere, if i were you i would send the second letter, tell them you do not agree with their findings, you can tell them the fos dont look too kindly on front loaded ppi and uphold 99% of claims. and you would like them to reconsider this.When you get a reply (if it is still no)take this to fos, i know this will take time but at the end of the day they did not explain the way this ppi worked and had you know,there is no way you would have taken it.By the way dont think natwest have been fined.

Thanks for this I will do it today. I realise Natwest have not been fined and should have done my homework a little better. (I've no excuse being a teacher).

This is a truly fantastic site.:money: Stumbled across a couple of month ago and have so far saved cash on utilities/ broadband/ and claimed back 6 years of breakdown cover I thought I had cancelled, but they hadn't.

amersall

Dirks_Engine_Room wrote: »

Thanks for this I will do it today. I realise Natwest have not been fined and should have done my homework a little better. (I've no excuse being a teacher).

This is a truly fantastic site.:money: Stumbled across a couple of month ago and have so far saved cash on utilities/ broadband/ and claimed back 6 years of breakdown cover I thought I had cancelled, but they hadn't.

Good luck with this, and please keep us posted.

Sylvia*J_2

di3004 wrote: »

Hi there

Its up to you, you can still continue to complain to the FOS and make those points clear to Lloyds as stated in my last post if you have not done this yet.
Good luck.

Thanks di. I'll give it a go. Nothing to loose everything to gain.

My deepest sympathy on the loss of your father. My thoughts are with you. xxx

polkadot

Di just read about your dad. I just wanted to say so sorry to hear it...and our prayers are with you and yours.

di3004

Good afternoon and thank you for your kind thoughtful words.

XXXXXXXXX

POOTERMAN

Can I just please ask if anyone has been successful in getting any amount of money refunded to them who DID make a claim against the PPI insurance on their loan/card/mortgage?

I have several companies phone me up each week trying to use them to reclaim mis-sold PPI payments that I had with an Abbey National mortgage between 1993-2007.

I'm just wanting clarifiication if this whole reclaiming process would be pointless if the mortgage protection insurance was used for a period of time when I was made redundant.

Any advice most appreciated

di3004

POOTERMAN wrote: »

Can I just please ask if anyone has been successful in getting any amount of money refunded to them who DID make a claim against the PPI insurance on their loan/card/mortgage?

I have several companies phone me up each week trying to use them to reclaim mis-sold PPI payments that I had with an Abbey National mortgage between 1993-2007.

I'm just wanting clarifiication if this whole reclaiming process would be pointless if the mortgage protection insurance was used for a period of time when I was made redundant.

Any advice most appreciated

Hi there and yes this have been done, for instance it may have been the case that it would have protected you for one thing and not the other, I would check on Martin's page of the guidelines of reclaiming, there is a checklist and further info and a questionnaire issued by the FOS, you complete this and save copies, and send to whom was responsible for selling you the policy.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
They have 8 weeks in full to respond, post by recorded delivery for your proof of posting.

However, ask for any help from here if required, good luck.:)

amersall

Yes, di is right but please have a go yourself before you think of going with a company, they cannot do any thing more than you can.It will only cost you stamps and if you win you keep all of it, these companys take 25% of your win, sometimes more, you will get all the help you need on this site for free.Get your letter off now and good luck.