PPI Reclaiming Discussion part 4

di3004

DoubleDee wrote: »

Hi MSE World.
I am an novice to the forum so bear with me please.
I am interested in the PPI debacle since I took out a mortgage arranged through the estate agent I bought through and they insisted that a condition of the mortgage was that a form of protection insurance was taken out with the mortgage.
My basic question is if this is the same as PPI?
Th cost was an additional £1000 added to the value of the mortgage which will be paid off (repayment) by 2015.
First taken out in 1990.
Would anyone give guidance please.
Regards

Hi and welcome.

Dunstonh is the one that helps in this area normally, as its Mortgage PPI, although similar to that of PPI for loans etc and so, but he should have the right info on this and the way to go about this, so below I have posted a new/separate thread (its still within these reclaiming threads) but separately so it won't be missed as such, good luck on this.;)
http://forums.moneysavingexpert.com/newthread.php?do=newthread&f=169

Oh and title it "Mortgage PPI help"

di3004

cappo wrote: »

Hi Dee and welcome have you more information i.e what was the name of the protection, it could have been ppi or life insurance or some other form of insurance, how much was the mortgage for (i'm not being nosey i'm trying to work out roughly whether the figure of the insurance would tally with the amount of the mortgage) if you have any more info it might be helpful.

Sorry Cappo, missed your post honey x;)

di3004

LynK wrote: »

I wonder could any if any of u good people could give me some advice please. As I mentioned in an earlier thread my first ppi claim was with sandander for a Dorothy Perkins store card which was rejected. I have appealed t the FLA bur going through this site it would seem they are pretty useless. So I spoke to a very helpful chap at the ombudsman on Thursday who said I should try claiming with the insurance underwriters who are a company called Financial Insurance Company Limited, he took some details down and said they would be in touch.
I recieved a letter from them (FOS) today it says

Thankyou for your recent enquiry about payment insurance bladdy bladdy blah.
The first step is to complain directly to the financial business that sold you the ppi, I have therefore written to Financial Insuranceto let them know that you have a complaint. Financial Insurance should now contact you for details of the complaint, if they do not already have them.
I have enclosed a ppi questionaire which will help the financial business you think is responsible for your complaint to assess your case and decide whether it should pay you compensation. etc etc
It goes on If you do not hear from them in the next few days after recieving this letter, you may wish to contact them at the address below, mentioning that we have alreqay written to them. They shoud issue a response in writing within 8 weeks of the date they recieve he complaint.

So should I wait for this company to contact me or do I go ahead and send them the questionnaire?? Sorry but I am a bit confused as to what to do next.

Hiya

I have one of mine ongoing with the FOS via the underwriter/insurer direction, and as amersall says, complete the questionnaire with your reasons for being mis sold, and then once you hear from the business see what they have to say, if they do not accept liability then the FOS will be able to investigate, good luck.

di3004

keggy1982 wrote: »

Hi All

Apologies if this has already been answered elsewhere! I’ve received a reply to my PPI reclaim from Barclaycard, it says they will be offering me a “gesture of goodwill no later than 31 August 2011 provided you have held you PPI policy for more than 30 days”, which I have.

After this sentence there is a star referring to a sentence at the end of the letter which says “In the event you do not hold a PPI Policy with us you will not be eligible for any refund” does this mean that now I have cancelled the PPI I will not get a refund?

Keg

Hi Keg

Not to worry, that is standard, a basic letter that all seemed to have received, in your case you had PPI, they are making a point as some tried making reclaims where they did not have ppi, but this part will not apply to you.
Good luck.;)

ImmortalQueen

Hi I'm a newbie and so apologies if this has been discussed before.

Has anyone been refunded PPI and found they're still paying it on a loan taken out? My story below...

Helping a friend since 2009 to claim back PPI on two loans with Lloyds TSB, we were successful in the bank upholding the claims and refunded my friend over £5k. We then understood that after accepting the money into the friend's account "ex gratis" (to quote the bank), that the PPI would be cancelled, and if my friend continued paying the full amount, the loan term would reduce.

Since 2009 my friend has continued paying the original amount each month expecting the term to reduce, however in a recent statement my friend has worked out that:
a). the PPI has not been removed and the loan amount reduced to the original amount.
b). the loan term has not reduced.

My friend has been phoning the bank to challenge this and was told that the bank do not see a problem. We challenged the bank again with another letter and they've just replied to the effect that the Bank paid the money to my friend's account so that he could pay back the bank the PPI.

Surely this is not correct - the bank mis-sold the PPI, they refund the PPI and remove the PPI off the loan. Not give my friend a sum of money for him then to pay the bank back the PPI.

We're both at the end of our tethers and would gladly welcome any advice/ thoughts from MSE posters.

di3004

ImmortalQueen wrote: »

Hi I'm a newbie and so apologies if this has been discussed before.

Has anyone been refunded PPI and found they're still paying it on a loan taken out? My story below...

Helping a friend since 2009 to claim back PPI on two loans with Lloyds TSB, we were successful in the bank upholding the claims and refunded my friend over £5k. We then understood that after accepting the money into the friend's account "ex gratis" (to quote the bank), that the PPI would be cancelled, and if my friend continued paying the full amount, the loan term would reduce.

Since 2009 my friend has continued paying the original amount each month expecting the term to reduce, however in a recent statement my friend has worked out that:
a). the PPI has not been removed and the loan amount reduced to the original amount.
b). the loan term has not reduced.

My friend has been phoning the bank to challenge this and was told that the bank do not see a problem. We challenged the bank again with another letter and they've just replied to the effect that the Bank paid the money to my friend's account so that he could pay back the bank the PPI.

Surely this is not correct - the bank mis-sold the PPI, they refund the PPI and remove the PPI off the loan. Not give my friend a sum of money for him then to pay the bank back the PPI.

We're both at the end of our tethers and would gladly welcome any advice/ thoughts from MSE posters.

Hi there

First of all well done on your success.:beer:

However, if this was upheld and not a goodwill gesture, I assumed the monthly repayments were to be reduced as if no PPI, or it would be like as if your paying for it all over again.

I'm sure others will post up on this as well, but even though they have refunded the ppi, you can still make a complaint on how they have dealt with this matter, and tell them you don't believe this is right.

cappo

di3004 wrote: »

Sorry Cappo, missed your post honey x;)

No worries my woman,how's it all going?:)

di3004

cappo wrote: »

No worries my woman,how's it all going?:)

Hi hun
Yeah not too bad, thanks for asking and you?
Been getting on with some paperwork for that be-dreaded Hamilton Case. Lots of photo-copying, scanning, printing, its been never ending, not sure if TBD has had the chance to go over to LB today, I expect he is very busy, but I have some spare time from the fos, that helps x:D;)

cappo

ImmortalQueen wrote: »

Hi I'm a newbie and so apologies if this has been discussed before.

Has anyone been refunded PPI and found they're still paying it on a loan taken out? My story below...

Helping a friend since 2009 to claim back PPI on two loans with Lloyds TSB, we were successful in the bank upholding the claims and refunded my friend over £5k. We then understood that after accepting the money into the friend's account "ex gratis" (to quote the bank), that the PPI would be cancelled, and if my friend continued paying the full amount, the loan term would reduce.

Since 2009 my friend has continued paying the original amount each month expecting the term to reduce, however in a recent statement my friend has worked out that:
a). the PPI has not been removed and the loan amount reduced to the original amount.
b). the loan term has not reduced.

My friend has been phoning the bank to challenge this and was told that the bank do not see a problem. We challenged the bank again with another letter and they've just replied to the effect that the Bank paid the money to my friend's account so that he could pay back the bank the PPI.

Surely this is not correct - the bank mis-sold the PPI, they refund the PPI and remove the PPI off the loan. Not give my friend a sum of money for him then to pay the bank back the PPI.

We're both at the end of our tethers and would gladly welcome any advice/ thoughts from MSE posters.

If the ppi is reclaimed it should have been removed this is not right as Di says challenge it.

di3004

cappo wrote: »

If the ppi is reclaimed it should have been removed this is not right as Di says challenge it.

I would definately question it, and would do so by emailing the Customer team at lloyds and copying it to the CEO.;)

You know me only too well Cappo that I would do this lol.

Anyway details of the emails for ImmortalQueen here.

[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]


[EMAIL="antonio.osorio@lloydsbanking.com"]antonio.osorio@lloydsbanking.com[/EMAIL]