PPI Reclaiming Discussion part 4

bethg2009

bethg2009 wrote: »

Have just had an acknowledgement letter from Future Mortgages dated last Thursday so I'm well impressed the fact they only rec'd on Monday 13th and at least responded (this was the front loaded ppi). None too pleased not to have heard from Santander as yet, thought Future Mortgage would be the ones not to reply.......

Just got home and found an offer letter for £1880 from Santander and a paragraph reads;
This is made in full and final settlement of your complaint.

How do I know this is the correct amount as I no longer have the credit agreement?
Do I just accept it? as it does seem a fair offer as the original loan was only for £8000 and ended in July 2010, it looks about right as far as I can tell. Is there a kind of a general "rule of thumb" as to what percentage of the loan is added as PPI that anyone may be aware of?
I recall having similar kind of cover on a catalogue many moons ago that was charged at either 28 or 32% of your balance each month for example so would be interesting if it was that simple.

quoy

How far back can you claim PPI, my husband and I had a loan from HBOS back in 1999 and the amount of PPI was nearly as much as the loan repayments, it was for a farm, you can't get a mortgage on land, we were a partnership, the PPI stopped after 5 years as we moved, my husband has since died, is it worth bothering do you think?

dilus

bethg2009 wrote: »

Just got home and found an offer letter for £1880 from Santander and a paragraph reads;
This is made in full and final settlement of your complaint.

How do I know this is the correct amount as I no longer have the credit agreement?
Do I just accept it? as it does seem a fair offer as the original loan was only for £8000 and ended in July 2010, it looks about right as far as I can tell. Is there a kind of a general "rule of thumb" as to what percentage of the loan is added as PPI that anyone may be aware of?
I recall having similar kind of cover on a catalogue many moons ago that was charged at either 28 or 32% of your balance each month for example so would be interesting if it was that simple.

Hi bethg2009, a number of factors determine the payout. This is a full uphold so they are giving you back ALL PPI paid + 8% standard interest (which is taxable if you are a tax payer)
Without a breakdown it's difficult to say how much redress you should get on an £8,000 loan. How long was the term, did it run to term, did you pay it off early, did you claim on it, what was the APR etc etc. Post a few more figures up if you know them and we could advise a little better, well done on the success though :T

bethg2009

dilus wrote: »

Hi bethg2009, a number of factors determine the payout. This is a full uphold so they are giving you back ALL PPI paid + 8% standard interest (which is taxable if you are a tax payer)
Without a breakdown it's difficult to say how much redress you should get on an £8,000 loan. How long was the term, did it run to term, did you pay it off early, did you claim on it, what was the APR etc etc. Post a few more figures up if you know them and we could advise a little better, well done on the success though :T

Loan was for £8000 over 36 months, I'm 98% sure the apr was 6.9% we paid it to term and never made any claim on it.
We were paying £286 a month
HTH

dilus

bethg2009 wrote: »

Loan was for £8000 over 36 months, I'm 98% sure the apr was 6.9% we paid it to term and never made any claim on it.
We were paying £286 a month
HTH

Hi bethg2009, the redress looks Ok going on those figures.
£286 X 36 = £10,296 total repayment, that includes the APR for the loan itself, so redress of £1,880 looks Ok to me. I would accept this Well done :T

bethg2009

Over the years we have had a few loans with a few different companies although don't recall or have most of the paperwork for them. Is there a standard letter I can send to all companies to request copies of any loan information they may hold? As some of theses may have been over 6 years ago is it worth getting a copy of my credit report??
Now we've had a win I'm well on the trail........

dilus

bethg2009 wrote: »

Over the years we have had a few loans with a few different companies although don't recall or have most of the paperwork for them. Is there a standard letter I can send to all companies to request copies of any loan information they may hold? As some of theses may have been over 6 years ago is it worth getting a copy of my credit report??
Now we've had a win I'm well on the trail........

By all means try a free credit report (Experian or such like) it might throw some light on the past. Not sure if a SAR would help beyond 6 years as that's all the banks have to go back to as far as records go. If you do on line banking see if that sheds any light. You could always phone the bank and ask if you have had any previous PPI on anything sometimes works

di3004

bethg2009 wrote: »

Over the years we have had a few loans with a few different companies although don't recall or have most of the paperwork for them. Is there a standard letter I can send to all companies to request copies of any loan information they may hold? As some of theses may have been over 6 years ago is it worth getting a copy of my credit report??
Now we've had a win I'm well on the trail........

Hi there

You can do as Dilus says, or maybe call into the local branch who may disclose the information.

However, also as Dilus says, you could request a Subject Access Request (SAR) but they may not hold data prior to the last 6 years, saying that, last year I requested a SAR with one of the banks and was lucky to receive data going back to late 90's, but you cannot guarantee this.

Another way is, if you know for sure you were sold and have reasons for being mis sold PPI, you can still continue to make a reclaim, having the account numbers to the loans would help.

You can try checking old banking statements, the account number should be shown next to the monthly repayment, if you bank online and still with the same bank where you repaid the loan repayments out of, this may allow you to go back to about 2003 or so.

Hope this helps, good luck.

di3004

quoy wrote: »

How far back can you claim PPI, my husband and I had a loan from HBOS back in 1999 and the amount of PPI was nearly as much as the loan repayments, it was for a farm, you can't get a mortgage on land, we were a partnership, the PPI stopped after 5 years as we moved, my husband has since died, is it worth bothering do you think?

Hi there

Defo give it a go with your reasons you have.
I take it you were joint on the application?

Many have been successful with making reclaims, from even older accounts.

So sorry of your loss of your beloved husband and hope you get some luck now, good luck with this and ask for further help if required.

di3004

dave73 wrote: »

Can some one give me the address for posting my ppi claim for egg and Santander thanks

Hi there

I may be wrong, but are Santander dealing with EGG complaints as well?
Hopefully someone will clarify on this, but details below of Santander, good luck.

Complaints
Santander UK PLC
PO Box 1125
BRADFORD
BD1 9PG

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1210607166846&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateA2