PPI Reclaiming Discussion part 4

excited

Good afternoon,

My wife has had a mortgage with YBS since 1988 where she paid PPI. In 2004 she moved house but kept the current amount owing. Reason being they (YBS) effectively closed the mortgage and reopened it with the original amount owing but decided she didn’t need any PPI on the amount left from 2004 onwards.

Will she be able to make a claim?

Thanks Excited

cappo

maz1411 wrote: »

thanks will do, they do have extremely high repayment rates!!! they say in the letter its due to high volume of claims would be nice tohave something before xmas
:beer:

Hi maz i'm now getting exactly the same from LTSB

cappo

MrsShazbat wrote: »

Still waiting for a response from FOS re: Capital One

Hi karen got mine sorted out in the end, the insurance payment came through last week, the tide seems to be finally turning on cap 1 as far as the fos are concerned, the ombudsman was going to uphold mine after the initial adjudicator rejected it, the new adjudicator was really helpful and restored my faith in the fos where cap 1 were concerned.

cappo

debsjc wrote: »

I sent the initial letter to Barlclaycard, asking for a copy of my original credit agreement within 12 days (I used the MSE template).

I received a standard letter in reply on 20 October, to acknowledge receipt and advising me they were dealing with my request and would respond as soon as possible.

Is it acceptable to have a delay at this early 'information gathering' stage?
To they have to provide the information I requested within 12 days, or just acknowledge me?

Hi debs there seems to be a delay at every stage of the process now, the lenders are getting really slow, it'll get sorted out in the end though i know thats no comfort.

debsjc

amersall wrote: »

They will need time to find this,give them another week and if you have no response,then ring and ask for an update.
Did you pay £1 or £10,if you Paid a £1 and the loan was finished a while ago,they may write back and say they have no details and do not have to supply you with this.
If it was £10 they have 40 days to find the info you need.

Thanks for the information. I paid £1, but I still have and use the card, so hopefully they should be able to find the details.

pop87

Hi there, i took a loan out with barclays in 2004 for £4000, this had no PPI in 2005 i topped up my loan by 12,700 they said i had to take out PPI otherwise i wouldnt get the loan as i was high risk. i have found the old paperwork it states:Cash loan:12,700 + Premium loan :1912.13 for the period i was borrowing for which was 36 months. do you think i can claim this back? any info will help. thanks in adavance.

cappo

pop87 wrote: »

Hi there, i took a loan out with barclays in 2004 for £4000, this had no PPI in 2005 i topped up my loan by 12,700 they said i had to take out PPI otherwise i wouldnt get the loan as i was high risk. i have found the old paperwork it states:Cash loan:12,700 + Premium loan :1912.13 for the period i was borrowing for which was 36 months. do you think i can claim this back? any info will help. thanks in adavance.

Give it a go pop they were wrong to tell you you needed the ppi for starters.

beamerguy

pop87 wrote: »

Hi there, i took a loan out with barclays in 2004 for £4000, this had no PPI in 2005 i topped up my loan by 12,700 they said i had to take out PPI otherwise i wouldnt get the loan as i was high risk. i have found the old paperwork it states:Cash loan:12,700 + Premium loan :1912.13 for the period i was borrowing for which was 36 months. do you think i can claim this back? any info will help. thanks in adavance.

WHAT !! Banks dont do loans if you are high risk ? A PPI does not secure them against High Risk, it is designed to secure you if you cannot repay the loan.

Whoever told you that rubbish from Barclays needs to be sacked, they were just lining their own pocket with high commission :eek::eek:

YOU HAVE BEEN LIED TO AND ALSO MISOLD. CLAIM EVERY PENNY BACK PLUS INTEREST. YOU HAVE BEEN CONNED BY BARCLAYS BANK

gingamonkey

gingamonkey wrote: »

Cool, thanks!

I'd calculated the total PPI payments I'd made (inc. interest) with 8% additional interest added as a percentage of the total, forgetting that earlier payments made back in 2008 would generate more interest than more recent payments.

According to this calculator, if I get a refund I stand to gain nearly £6,700, as well as be over £120 a month lighter in PPI payments for the next 17 years!

Please let it happen! Thanks amersall :beer:

Bad news, Barclays rejected my claim!

Here is their breakdown of why:

• I believed that they had not asked about my partner's medical status. The application documentation only provided a breakdown sheet for myself, not my wife.

They quoted telephone conversations to the contrary and also that as she is the second borrower, she was only covered for Life.

Fair enough as her employment details were on the forms, etc. Not sure if I was made aware of the fact that she was only covered for Life though. Is this another reason for complaint?

• I was told that taking PPI would increase my chances of getting the loan.

They have quoted telephone conversations to the contrary, saying that the salesperson followed correct procedure and there is no evidence of saying that it would increase my chances of getting the loan.

I have a foggy memory, and it may have just been the tone/delivery of this information that may have swayed me into it. I was in serious debt at the time, and would have agreed to anything to help us out.

• The PPI only covered the first 5 years, but I would be paying interest for the full term

They stated that the payment details were fully relayed to me in the telephone conversation.

My query with this is, is this actually a legal way of offering protection anyway? 5 years of cover but paying through the nose for 20 years ?!?!

• I was not made aware that I could have shopped elsewhere for PPI on this loan.

They stated that 'Barclays are not obliged to supply details of other insurance policies available to buy'.

Is this them just being clever with words and trying to get around the fact that they didn't make me aware that there were other external options available to me?

I have already contacted them to ask them for copies of the telephone conversations, but if you guys could offer any help/advice it would be very much appreciated.

Is my battle over?

Thanks guys,

A very dejected Gingamonkey

Red_peppers

Hey Beamer,

Any chance you could take a look at my intelligent finance post on the main PPI thread list and tell me what you think?

You've helped so many people on here and I just wondered whether to take it further or just let it drop xxx